The new homes will have a similar design to a home by the same developer across the street. Photo by Jonathan Spiers.
A local development group is looking to add to the inventory of new, low-priced homes in Richmond’s East End.
Quality Life of Virginia is building several homes near Woodville Elementary School targeted toward first-time homebuyers with low to moderate incomes.
The Richmond Planning Commission on Monday approved a preliminary site plan for the project, which includes six single-family detached homes at North 28th and Y streets.
The two-story homes will resemble other houses the company has built in the city, including one nearby at 1808 N. 28th St. The line of six homes, to be called Grace Place, will fill three parcels totaling 0.7 acres at 1734, 1736 and 1738 N. 28th St. A portion of a parcel at Y and 27th streets is planned to remain open space.
Company head LeRoy Chiles has built or rehabbed other homes in Richmond’s Northside and Henrico’s Varina district.
Chiles, a native Richmonder who has worked in real estate and home construction for two decades, said the East End location, near Armstrong High School and Bon Secours Richmond Community Hospital, was selected due to a lack of new home construction.
LeRoy Chiles
“We realized that area is being underserved and a lot of lots were empty,” he said. “So a group of us got together and decided to raise some brand-new homes for low- to moderate-income people.
“There are a lot of people who would like to live in that area, but they don’t have any houses to buy,” he said. “Some people may like a resale, but if they can have a brand-new house, sometimes the area is not a big deal.”
Chiles said his company is financing the Grace Place project itself. He said the firm is serving as developer and builder and is purchasing the three parcels for about $40,000. City records show two parcels were purchased from Word for Living Ministries for $18,000 in April 2014. Chiles said the sale of the third parcel is expected to close soon.
Chiles estimated construction costs will total about $110,000 per house. He said the homes would be priced starting in the $140,000 range.
“Our main goal is to make (enough money to) make sure we can keep repeating the process,” he said of the company’s goal for producing lower priced homes. “With the $140,000 mark, that makes it possible for teachers and police officers and people in that price range to be able to buy brand-new homes. With the interest rates what they are, a person making about $20 an hour can buy a house brand new.”
Chiles said each home will span 1,400 square feet and consist of three bedrooms and 2½ bathrooms. He said first-floor rooms will have 9-foot ceilings, and some units will have an option for a basement.
The company is working with CHN Realty Co. LLC to sell the homes, which Chiles said would be built one at a time according to sales.
Chiles is the latest builder to bring changes to the East End. Nearby in Church Hill, developer Deanna Lewis is working to restore a stretch of row houses and an old general store.
The new homes will have a similar design to a home by the same developer across the street. Photo by Jonathan Spiers.
A local development group is looking to add to the inventory of new, low-priced homes in Richmond’s East End.
Quality Life of Virginia is building several homes near Woodville Elementary School targeted toward first-time homebuyers with low to moderate incomes.
The Richmond Planning Commission on Monday approved a preliminary site plan for the project, which includes six single-family detached homes at North 28th and Y streets.
The two-story homes will resemble other houses the company has built in the city, including one nearby at 1808 N. 28th St. The line of six homes, to be called Grace Place, will fill three parcels totaling 0.7 acres at 1734, 1736 and 1738 N. 28th St. A portion of a parcel at Y and 27th streets is planned to remain open space.
Company head LeRoy Chiles has built or rehabbed other homes in Richmond’s Northside and Henrico’s Varina district.
Chiles, a native Richmonder who has worked in real estate and home construction for two decades, said the East End location, near Armstrong High School and Bon Secours Richmond Community Hospital, was selected due to a lack of new home construction.
LeRoy Chiles
“We realized that area is being underserved and a lot of lots were empty,” he said. “So a group of us got together and decided to raise some brand-new homes for low- to moderate-income people.
“There are a lot of people who would like to live in that area, but they don’t have any houses to buy,” he said. “Some people may like a resale, but if they can have a brand-new house, sometimes the area is not a big deal.”
Chiles said his company is financing the Grace Place project itself. He said the firm is serving as developer and builder and is purchasing the three parcels for about $40,000. City records show two parcels were purchased from Word for Living Ministries for $18,000 in April 2014. Chiles said the sale of the third parcel is expected to close soon.
Chiles estimated construction costs will total about $110,000 per house. He said the homes would be priced starting in the $140,000 range.
“Our main goal is to make (enough money to) make sure we can keep repeating the process,” he said of the company’s goal for producing lower priced homes. “With the $140,000 mark, that makes it possible for teachers and police officers and people in that price range to be able to buy brand-new homes. With the interest rates what they are, a person making about $20 an hour can buy a house brand new.”
Chiles said each home will span 1,400 square feet and consist of three bedrooms and 2½ bathrooms. He said first-floor rooms will have 9-foot ceilings, and some units will have an option for a basement.
The company is working with CHN Realty Co. LLC to sell the homes, which Chiles said would be built one at a time according to sales.
Chiles is the latest builder to bring changes to the East End. Nearby in Church Hill, developer Deanna Lewis is working to restore a stretch of row houses and an old general store.