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The 24-story Bank of America Financial Center in downtown Richmond is about to get a major facelift.

The building’s new owners are planning a multimillion-dollar renovation over the next eight months. The work will include refacing the exterior and upgrading the lobby and exterior courtyard.

The building, at 1111 E. Main St., was purchased in February for $42 million by District Bay Realty Advisors, a Washington, D.C., real estate investment firm, and Joe Ersek, a Washington developer.

The purchase also included two parking garages and a four-story office pavilion along Main Street.

District Bay, the former Verris Capital, also owns Stony Point Shopping Center, off Huguenot Road in South Richmond where Martin’s Food Markets is an anchor tenant, through an independent investment entity.

Michael Wheeler, a managing partner with District Bay, said the beige exterior of the Bank of America building will be recoated in a white masonry material that will give it a crisp, clean look and appear as if it is shimmering.

“This is our second project in Richmond,” Wheeler said. “This is a market we continue to find very attractive and I think our improvements will be very well received,” he said.