A Virginia Beach developer is trying to reel in a deal to transform a state agency’s former West Broad Street headquarters into hundreds of apartments and commercial space.
Kotarides Developers has filed a plan of development with the city to raze the Department of Game and Inland Fisheries buildings at 3900, 4000 and 4010 W. Broad St. In their place, the company would build new structures with plans for as many as 238 apartments and room for retail space.
DGIF, which relocated its headquarters to Villa Park III earlier this year, currently owns the West Broad Street property. It consists of three buildings on about 5 acres just east of the Henrico County line.
The plans show that Kotarides has proposed purchasing the property from DGIF, although the deal has not yet closed.
DGIF Outreach Director Lee Walker said the department cannot comment on the pending sale but said it is actively pursuing a potential buyer for the property. Divaris Real Estate is handling the listing. The properties were most recently assessed at a combined $5 million.
Dubbed Belmont Apartments, Kotarides’ plan calls for the construction of a four-story, 51,000-square-foot building and another four-story, 11,900-square-foot building with ground-level parking. It did not indicate how much commercial space may be available.
A representative with Kotarides did not return requests for comment.
The Virginia Beach developer has tried to get in on Richmond development before, putting in a bid for the bus depot on South Davis Avenue. That deal ultimately went to the Monument Cos.
The developer also had to file a plan with Henrico, as a sliver of the DGIF land is in the county.