The Collegiate takes shape

An 11-acre, $22.4 million student apartment project is quickly coming out of the ground off Chamberlayne Avenue, north of Virginia Commonwealth University.

Trinitas Ventures, an Indiana-based student housing developer, worked for a year to close the deal on the land. Work began this summer, and BizSense first broke the story in June.

The development, known as the Collegiate, will consist of 270 one-, two-, three- and four-bedroom units.

This photo doesn’t do the project justice. What’s pictured is just the first row of apartments. The property extends back several blocks, and about four of the structures are out of the ground so far. It’s massive.

It also has interesting history. As BizSense first reported, the land was previously a trailer park and was then owned by an LLC tied to imprisoned developer Justin French. He, too, planned a student housing project for the land.

Trinitas purchased the land for $2.6 million. The proceeds of the sale went to the U.S. Attorney for restitution to French’s victims.

Indiana-based construction firm Vizor-Alderson is the general contractor.

The project is expected to be completed in August 2012.

An 11-acre, $22.4 million student apartment project is quickly coming out of the ground off Chamberlayne Avenue, north of Virginia Commonwealth University.

Trinitas Ventures, an Indiana-based student housing developer, worked for a year to close the deal on the land. Work began this summer, and BizSense first broke the story in June.

The development, known as the Collegiate, will consist of 270 one-, two-, three- and four-bedroom units.

This photo doesn’t do the project justice. What’s pictured is just the first row of apartments. The property extends back several blocks, and about four of the structures are out of the ground so far. It’s massive.

It also has interesting history. As BizSense first reported, the land was previously a trailer park and was then owned by an LLC tied to imprisoned developer Justin French. He, too, planned a student housing project for the land.

Trinitas purchased the land for $2.6 million. The proceeds of the sale went to the U.S. Attorney for restitution to French’s victims.

Indiana-based construction firm Vizor-Alderson is the general contractor.

The project is expected to be completed in August 2012.

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charles
charles
10 years ago

I hope they succeed, but my first take on this project is that they are nuts, and have no clue about Richmond real estate. There are ongoing issues with that locality, such that I certainly wouldn’t have my daughter live in those apartments.

But I really hope I’m wrong, as the project will be good for the city if it works.

Matt
Matt
10 years ago

I completely agree with charles.

It’s hard to imagine a worse location in Richmond and I cannot fathom the idea of allowing a child of mine to live there. Maybe the developers know something about the future of Gilpin Court that we don’t. Would think a common sense look at the staggering crime statistics for that area would be enough to pursue other sites…..

That being said, I hope this project works out….

DaveM
DaveM
10 years ago

Agreed with the others. There’s no way in heck that myself or my kids would ever live there. That location is horrible.

joe
joe
10 years ago

Im sure all 3 of you live in the suburbs. What a joke.

Jason
Jason
10 years ago

Where do you live Joe? The fan? Single male and no kids?

Matt
Matt
10 years ago

Joe- Thanks for asking….. I live 2 blocks south of the Lee Bridge in middle of Richmond City. How bout you? Gilpin?