News

Opportunity

After purchasing the 25-acre Clopton Siteworks and its 26 former tobacco warehouses in South Richmond, Lynx Ventures has been redeveloping the community to create office, warehouse, and studio space for small businesses. Already, 11 of the buildings have been renovated and leased for many different uses, starting to reinvigorate a once-vibrant neighborhood.

Among the early tenants in the reimagined Clopton Siteworks was Hatch Kitchen, co-founded by Lynx Ventures, Brad Cummings, and Austin Green.  Hatch has operated a total of 20,000 square feet of commercial kitchen space, and combined café and event space in one renovated warehouse since late 2018. Hatch opened its doors to help food entrepreneurs operate in government-certified kitchens and gain access to related resources that help them achieve their goals.

Its clients include caterers, small producers, and even restaurants that need short-term expanded space for large-batch production. The site also features a corral with power hookups for food trucks.

As market demands evolved and shifted, the organization – now operating as HatchSpace – wanted to introduce additional services and dedicated spaces to support emerging producers and their needs. With Lynx building out the neighboring warehouse, Hatch will launch:

• Hatch Butchery:  A USDA certified facility to process meat-based food products that will be sold in stores. Currently, the closest short-term rental for small producers is in Maryland.
• Hatch Logistics: About 6,000 square feet – roughly a quarter of which will be refrigerated or freezer space – will be dedicated rental space for storage, from supplies to finished
• Hatch Packaging: A state-of-the-art production facility, specializing in co-packing a number of products from sauces to ready-to-eat foods.

Solution

A combined $2,827,000 loan, backed by real estate and equipment collateral, will support the build-out of the second warehouse as a dedicated space for Richmond’s growing food-and-beverage industry. The project aligns with VCC’s Fresh Food Loan Fund priorities and blends with its Healthy Food Financing Initiative resources. Lease income from the renovated warehouse will be used to repay the loan.

Impact

Both Lynx Ventures and the Hatch food business ecosystem are creating opportunities for new jobs in an underserved area, while also contributing to the development of a vibrant new community. Hatch also offers a model that supports the creation and growth of fresh food businesses, helping to expand food access in South Richmond. The redevelopment of Clopton Siteworks inspires outside investment in small businesses that will operate from the once-abandoned and now-renovated warehouses, contributing to the city’s economic prosperity.

The United Nations created 17 global Sustainable Development Goals (SDGs) that aim to eradicate poverty and deprivation, grow our economies, protect our environment, and promote peace and good governance. These SDGs best align with VCC, and our mission to positively impact communities.

The Lynx Ventures loan aligns with SDGs 2 and 8.