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- Studio, one- and two-bedroom apartments range from 410 to 924 square feet.
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- Thalhimer announced Wednesday that renovations at 1142 W. Grace Street are complete.
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- There will be an open house on June 18. Photos courtesy of Thalhimer Realty Partners.
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- Grace Street entrance. Photo by Kieran McQuilkin.
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- The building used to hold the University of Richmond’s law school.
-
- Some of the apartments feature chalkboards kept from the original U of R classrooms.
A Grace Street property built in the 1800s has gotten a 21st century upgrade.
Thalhimer Realty Partners, the development and investment arm of local real estate firm Cushman & Wakefield | Thalhimer, this month completed the transformation of 1142 W. Grace St. into a 25-unit apartment building dubbed the Columbia Apartments.
The two-story building was constructed in 1817 by Richmond businessman Phillip Haxall as an estate for his family. Around 1921, the property was used by the University of Richmond’s law school before eventually becoming an office building. It has 13,700 square feet and a 6,850-square-foot basement.
Drew Wiltshire
The property ran into financial trouble in 2013 and was slated for a foreclosure auction that year. Thalhimer Realty Partners eventually bought the building at a different foreclosure auction in 2014 from First Citizens Bank. It paid the bank $950,000 and spent $1.7 million on planning and renovations, according to Thalhimer’s Drew Wiltshire.
“Our strategy was based on the location and the age of the property,” Wiltshire said.
Commonwealth Architects was the architect for the job and Corinthian Construction was its general contractor. Union Bank & Trust financed the project, which also made use of historic tax credits.
The Columbia Apartments is a mix of studio, one- and two-bedroom apartments ranging from 410 to 924 square feet. Rental rates range from $749 to $1,399. Thalhimer’s brokerage is managing the property for which an open house will be held June 18.
Twenty-two of the 25 units have already been leased, Wiltshire said.
-
- Studio, one- and two-bedroom apartments range from 410 to 924 square feet.
-
- Thalhimer announced Wednesday that renovations at 1142 W. Grace Street are complete.
-
- There will be an open house on June 18. Photos courtesy of Thalhimer Realty Partners.
-
- Grace Street entrance. Photo by Kieran McQuilkin.
-
- The building used to hold the University of Richmond’s law school.
-
- Some of the apartments feature chalkboards kept from the original U of R classrooms.
A Grace Street property built in the 1800s has gotten a 21st century upgrade.
Thalhimer Realty Partners, the development and investment arm of local real estate firm Cushman & Wakefield | Thalhimer, this month completed the transformation of 1142 W. Grace St. into a 25-unit apartment building dubbed the Columbia Apartments.
The two-story building was constructed in 1817 by Richmond businessman Phillip Haxall as an estate for his family. Around 1921, the property was used by the University of Richmond’s law school before eventually becoming an office building. It has 13,700 square feet and a 6,850-square-foot basement.
Drew Wiltshire
The property ran into financial trouble in 2013 and was slated for a foreclosure auction that year. Thalhimer Realty Partners eventually bought the building at a different foreclosure auction in 2014 from First Citizens Bank. It paid the bank $950,000 and spent $1.7 million on planning and renovations, according to Thalhimer’s Drew Wiltshire.
“Our strategy was based on the location and the age of the property,” Wiltshire said.
Commonwealth Architects was the architect for the job and Corinthian Construction was its general contractor. Union Bank & Trust financed the project, which also made use of historic tax credits.
The Columbia Apartments is a mix of studio, one- and two-bedroom apartments ranging from 410 to 924 square feet. Rental rates range from $749 to $1,399. Thalhimer’s brokerage is managing the property for which an open house will be held June 18.
Twenty-two of the 25 units have already been leased, Wiltshire said.
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