A well-known local developer is back in action in the heart of VCU.
Louis Salomonsky is in the midst of renovating the 11,000-square-foot property at 613 N. Lombardy St. into a 13-unit apartment building with commercial space on the ground floor. The two-story building sits at North Lombardy and West Broad streets and formerly housed the Nehemiah House of Prayer.
Construction started in late August and should finish up by March of 2016. It will cost about $1.5 million. First Capital Bank is the lender.
Earlier this year, Salomonsky’s Main Street Realty sold the 123-unit Coliseum Lofts a few doors down from his Lombardy project. And though he is also a partner with development firm Historic Housing, Salomonsky said he is working this latest project on his own.
He said the reason for doing the project was simple: he owns the building.
“Now was a good time, this is what we do for a living,” he said. “It’s a leftover project.”
Salomonsky purchased the property in 2002 through an entity called 613 North Lombardy LLC.
He said he plans to add four two-bedroom and nine one-bedroom apartment units. They will range between 650 and 950 square feet. The project does not yet have a name.
Verizon Wireless has already been contracted to lease out the 3,000-square-foot space on the ground floor.
Larry Cluff is the general contractor on the project, and Todd Dykshorn is the architect.
The property is along a main drag of VCU, but Salomonsky isn’t necessarily targeting undergrads.
“It will be really high-end,” he said. “Its appeal is going to be more toward faculty and graduates.”