Former Massey HQ in Virginia now apartment building
RICHMOND, Va. -- Massey Energy's former headquarters in Richmond has been converted to an apartment building.
The Monument Cos. bought the four-story building in 2012 from Bristol-based Alpha Natural Resources, which acquired Massey in 2011. The building has been converted to 74 apartments, 31 of which have been leased, the Richmond Times-Dispatch reported Wednesday.
Apartments range from an average one-bedroom unit with 570 square feet for $975 a month to an average two-bedroom with 980 square feet for $1,450. About 100 solar panels have been installed on the roof to provide electricity.
Chris Johnson, a principal in The Monument Cos., said the company has invested nearly $9 million in the project. The cost is being offset with state and federal tax credits.
An historic district was expanded in 2012 to include the building and other structures in the area.
Most of the building's residents are students and young professionals, ages 25 to 39. Many walk to and from school or work, Johnson said.
"People love the location. It's halfway between the central business district and the Fan,'' Johnson told the newspaper.
Chafa Knox, a student at J. Sargeant Reynolds Community College, is among the first residents to move into the building. She said she stumbled upon it by chance.
"It's been really nice to see the changes and see it all come together,'' Knox told the newspaper.
The building, now called 4N4 Midtown, was constructed in 1951 and still bears the "Massey Building'' cornerstone plaque. Original marble paneling in the lobby also was retained.
Coal broker A.T. Massey created the company bearing his name in 1920. Massey was sold in 1974 to St. Joe Minerals, which later formed a partnership with Royal Dutch/Shell Group in 1980. A year later, Massey Coal Partnership was purchased by Fluor Corp. Massey Energy was created in 2000 when Fluor spun off its coal holdings as a separate public company.