Roper’s in-progress project at Grace and Shafer streets. (Photo by Burl Rolett)
With two towers on the rise in the Fan, a Richmond developer is looking west for his next job.
Phil Roper of Plus Management is building 120 apartments at Botetourt County’s Daleville Town Center. Roper’s complex has been in the works for about two years, and he plans to deliver his first unit Nov. 1.
“I like that area. It kind of reminded me of Goochland,” he said. “It’s a real nice upper-end area, and they turned it into a real nice neo-traditional development.”
Roanoke-based Fralin and Waldron owns the Daleville Town Center. The project has lagged since breaking ground in 2006, but the Roanoke Times reported last week that it is gaining momentum.
Roper estimated the total cost of his project at $14 million. He is financing the development using cash and a $12 million loan from Berkadia Financial. Walter Parks Architects designed the project, and Fralin and Waldron is the apartment complex’s general contractor.
Roper is also building an 11-story apartment building and a seven-story office and classroom tower on the 900 block of W. Grace St.
Roper doesn’t venture out of Richmond often, he said, and the developer doesn’t have plans for more out-of-town developments.
“I’ve looked at the properties from Maryland to Florida,” he said. “It’s tough to find the perfect deal, and you need to take the travel time into consideration.
“It’s much better to sleep on your own pillow at night.”
Roper’s in-progress project at Grace and Shafer streets. (Photo by Burl Rolett)
With two towers on the rise in the Fan, a Richmond developer is looking west for his next job.
Phil Roper of Plus Management is building 120 apartments at Botetourt County’s Daleville Town Center. Roper’s complex has been in the works for about two years, and he plans to deliver his first unit Nov. 1.
“I like that area. It kind of reminded me of Goochland,” he said. “It’s a real nice upper-end area, and they turned it into a real nice neo-traditional development.”
Roanoke-based Fralin and Waldron owns the Daleville Town Center. The project has lagged since breaking ground in 2006, but the Roanoke Times reported last week that it is gaining momentum.
Roper estimated the total cost of his project at $14 million. He is financing the development using cash and a $12 million loan from Berkadia Financial. Walter Parks Architects designed the project, and Fralin and Waldron is the apartment complex’s general contractor.
Roper is also building an 11-story apartment building and a seven-story office and classroom tower on the 900 block of W. Grace St.
Roper doesn’t venture out of Richmond often, he said, and the developer doesn’t have plans for more out-of-town developments.
“I’ve looked at the properties from Maryland to Florida,” he said. “It’s tough to find the perfect deal, and you need to take the travel time into consideration.
“It’s much better to sleep on your own pillow at night.”