Richmond has a new tower on the horizon.

A 21-story building, dubbed the Locks at 321, is in the works at the corner of 10th and East Byrd streets.

SunTrust announced this morning it will occupy 53,000 square feet of the building, moving about 200 staff members from its current tower at 919 E. Main St.

Locally-based Dominion Realty Partners is the developer. The new building, which will carry the SunTrust name, is scheduled to be completed by December of 2017.

“Richmond is an important market for us, and moving our Richmond main office to this new location reaffirms our commitment to the downtown area and the entire region,” John Stallings, SunTrust’s Virginia division president, said in a news release.

The tower will be part of the Locks, a massive multi-building redevelopment on the former site of the Reynolds North plant along the canal. Fountainhead Properties and WVS Companies began the Locks project in 2012.

Stay tuned to BizSense for more.