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CFA Institute Settles into Downtown Location - NBC29 WVIR Charlottesville, VA News, Sports and Weather

CFA Institute Settles into Downtown Location

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CHARLOTTESVILLE, Va (WVIR) -

An international financial institute that sets the standards for the investment industry is settling into its new home in downtown Charlottesville. The CFA Institute is finishing up the move into the former Martha Jefferson Hospital.

CFA expects to finish the move-in by this weekend. It's bringing hundreds of employees from four facilities spread across the city and Albemarle County into one new building that’s an old stomping ground for the institute’s chief risk officer, Guy Williams. Williams worked for Martha Jefferson when the hospital called the building home. Now, it's CFA's Charlottesville hub for 420 employees.

“What's very nice about this is that we now have everyone that's in the Charlottesville area under one roof,” Williams said.

The institute transformed the seven-story tower. A bright stairwell encourages employees to walk between floors, and each level features open offices and common spaces.

“We've adjoined departments based on functionality, which will, I think, improve not only the efficiency of communication but also the exchange of ideas,” Williams said.

A hallway connects to the former hospital's Patterson building, built in 1929. Restoration unveiled original archways and wood floors. Each window was painstakingly refurbished.

“That was quite an undertaking, but as you can see it turned out beautifully,” Williams said.

The institute put $37 million into the consolidation project, which the city hopes will generate more economic development downtown.

“Having them associate themselves with wanting to be downtown and actually making the commitment to either lease or purchase property and make that investment is significant, no doubt,” said Chris Engel, director of Charlottesville economic development.

CFA promises its investment in Charlottesville is for the long run.

“We're very blessed to be in this community and this close to the downtown, so we're looking forward to supporting downtown,” Williams said.

CFA will soon get new neighbors. Construction crews are working in the other side of the former hospital to create residential units and offices for HemoShear.

The biotech research firm expects to move in around April.

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