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December 20, 2021updated 07 Jan 2022 6:46am

CoStar Group unveils plan for corporate campus expansion in Virginia

The new campus will feature a 26-storey office tower and a six-storey multipurpose building.

CoStar Group has announced plan to expand its research and technology centre in Richmond, Virginia, US.

Located on the James River, the planned corporate campus will feature a six-storey, mass-timber, multipurpose building, and a 26-storey office tower.

These two buildings will have a total 750,000ftof area.

The company stated that the new office tower will be designed to achieve LEED Platinum certificate.

The new campus will include fitness and wellness amenities, retail space, an auditorium, conference space, restaurants, and dining options as well as 50,000ft2 of green roof terraces.

It will also include more than 2.65-acres of outdoor green space.

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The two new buildings will be combined with CoStar’s existing building situated at 501 S. 5th Street to create a fully integrated campus of more than one million ft2.

The expanded Richmond campus is expected to house more than 3,000 employees focused on new technology, operations, marketing, research and development, and sales.

The building architecture will feature stepping design elements, and a series of elevated green terraces, offering open views.

This architecture with a dynamic cascading composition is inspired by the fall line of the James River.

CoStar Group CEO and founder Andrew Florance said: “Our decision to double down on investing in Virginia is driven by our confidence that with Governor-elect Youngkin’s successful commercial experience, Virginia will be open for business.

“With such strong support from both the Commonwealth of Virginia and the city of Richmond, CoStar Group is incredibly excited to make Richmond a hub that attracts the country’s top data scientists, real estate economists and software developers.

“We look forward to bringing thousands of our colleagues from across the country and from around the world to Richmond for training, advanced research and collaborative product development.”

The company’s new campus will also incorporate energy-efficient building systems, on-site energy generation and enclosures.

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