A blighted corner in Jackson Ward is getting a makeover.
Property Results is spending $2 million to turn three houses at Marshall and Adams streets into 11 apartments.
Mark Scordo, a principal with the development firm, said the project will include 10 three-bedroom apartments and one two-bedroom. The units average about 1,200 square feet.
The developers closed on the buildings in July and hired MGT Construction to do the renovations. Joe Yates is the architect.
There is a brick courtyard between two of the buildings that will offer parking for seven cars. Scordo said that the spaces would be rented to tenants and that the rest of the parking would be on the street.
Scordo said that he and his partner, Sam McDonald, had wanted to do more apartments but had to conform to the city’s density requirements, which turned out to be a blessing in disguise. Fewer units, he said, make it easier for the developers to secure the tax credits from the Virginia Department of Historic Resources.
“Cutting a house in half makes for a difficult application, because you are messing with the historic fabric of it,” Scordo said. “If you are trying to put four units in instead of eight, it doesn’t really change the flow of the building. So we had to reduce the number of units, but it did allow for us to make it an easier sell to DHR.”
Residents should start moving in Aug. 1, Scordo said. Rent ranges from $1,595 to $1,795 for the three-bedroom units and is $1,095 for the two-bedroom unit. Three of the apartments have been leased, he said.
Property Results has several other properties in the area. Eco Flats at 613 Brook Road is three blocks away, and Emerick Flats at 101 W. Marshall St. is across the street from the Marshall-Adams development.
“We like Jackson Ward,” Scordo said. “There is still plenty of work to do, but I think, next to Manchester, it’s the neighborhood with the most things happening. It looks a lot different than it did even five years ago.”
A blighted corner in Jackson Ward is getting a makeover.
Property Results is spending $2 million to turn three houses at Marshall and Adams streets into 11 apartments.
Mark Scordo, a principal with the development firm, said the project will include 10 three-bedroom apartments and one two-bedroom. The units average about 1,200 square feet.
The developers closed on the buildings in July and hired MGT Construction to do the renovations. Joe Yates is the architect.
There is a brick courtyard between two of the buildings that will offer parking for seven cars. Scordo said that the spaces would be rented to tenants and that the rest of the parking would be on the street.
Scordo said that he and his partner, Sam McDonald, had wanted to do more apartments but had to conform to the city’s density requirements, which turned out to be a blessing in disguise. Fewer units, he said, make it easier for the developers to secure the tax credits from the Virginia Department of Historic Resources.
“Cutting a house in half makes for a difficult application, because you are messing with the historic fabric of it,” Scordo said. “If you are trying to put four units in instead of eight, it doesn’t really change the flow of the building. So we had to reduce the number of units, but it did allow for us to make it an easier sell to DHR.”
Residents should start moving in Aug. 1, Scordo said. Rent ranges from $1,595 to $1,795 for the three-bedroom units and is $1,095 for the two-bedroom unit. Three of the apartments have been leased, he said.
Property Results has several other properties in the area. Eco Flats at 613 Brook Road is three blocks away, and Emerick Flats at 101 W. Marshall St. is across the street from the Marshall-Adams development.
“We like Jackson Ward,” Scordo said. “There is still plenty of work to do, but I think, next to Manchester, it’s the neighborhood with the most things happening. It looks a lot different than it did even five years ago.”
Good luck! I love seeing these old structure recycled!