August 7, 2012
Developers want to convert the former Massey Energy Co. headquarters in downtown Richmond into high-end apartments.
But a nearby historic district would have to be expanded to include the building. That would allow the developers to offset the renovation's cost with federal and state tax credits.
The four-story building was constructed in 1951.
Alpha Natural Resources bought Massey in 2011. Alpha vice president John M. Poma tells the Richmond Times-Dispatch that the decision to sell the building was market driven. But he says it also was based on what's best for the area.
Poma says the proposed renovation would preserve many of the building's unique architectural features while giving it a needed facelift.