After a decade’s worth of development, a Chesterfield neighborhood on a bank of the James River is preparing for its third and final phase.
The 740-acre Tarrington on the James, along Robious Road beside James River High School, is getting ready to start work on its last five sections, including three close to the river and the community’s riverfront park.
The sections will add about 200 homes to 490 already built, bringing Tarrington’s home total to 710 at build-out. Street and site work is getting underway, and construction is expected to wrap up next year.
Tarrington’s developer is Richmond-based Realty Ventures Group, which got started on the development in the mid-2000s. RVG principals Herbert Fitzgerald and Richard Nuckols said the project appealed to them for its location and access to area schools, shopping and the river.
“This phase will give better access to our riverfront park,” Nuckols said of the private dock system for Tarrington homeowners. Other amenities include a clubhouse with multiple swimming pools, more than 150 acres of common area and interconnected sidewalks throughout the community.
Of the 710 home sites slated for Tarrington, Nuckols said they have sold 525 – 56 in the last 12 months – leaving just under 200 remaining to be sold. Two of its recent sections included low-maintenance villa-style homes and 1-acre estate lots.
Homes in Tarrington range from the $400,000s to upwards of $1 million. Fitzgerald said a similar variety of price points, as well as home styles, would be offered in the final sections. Homes will range from three-bedroom, 2,000-square-foot villa homes to five-bedroom, 5,000-square-foot estate homes.
Builders include Boone Homes, Ellington Homes, Falcone Custom Homes, Homeplaces Ltd., Huguenot Builders, Ryan Homes, TimberCreek Building & Design and Thomas Homes. Five model homes have been built thus far for the new sections.
Fitzgerald and Nuckols put the overall cost of developing Tarrington at $35 million, with a total buildout value of upwards of $350 million. The pair has been working together as a development team since 1984, when they started RVG.
At its peak, the company totaled about 20 employees, but Nuckols said changes in its business model has since brought that number down to six. Most positions cut were on the marketing side of the business, which previously sold homes through sales offices in each development.
“Our model was we would sell the lots to builders and the homes for the builders. There was always pushback from builders to control their product,” he said. “That’s just an industry-wide trend. I’m not sure anyone is using a central sales office anymore.”
Laughing, Nuckols added: “I guess at some point, it started with me and Herb and it will end with me and Herb.”
Of about 25 communities RVG has developed in the area – including The Grove in Midlothian, Westhampton Place in Richmond, Tilman’s Farm in Powhatan and Rivergate in Goochland – Nuckols said Tarrington on the James is the biggest. The company works with a private investment group to finance its projects.
On Tarrington, RVG worked with Dave Gerstenmaier of HG, a local land planning and surveying firm; Charles Stick, a Charlottesville-based landscape architect who designed the community’s entrance; and E.D. Lewis & Associates, a Henrico-based civil engineering firm.
Up next for RVG is Holly View, a 500-lot development at Hull Street Road and Route 288 in Chesterfield. The 185-acre development is slated to break ground in fall 2017.
Just west of Tarrington, another large-scale development is likewise entering its next phase. Midlothian-based Riverton Associates is preparing a mixed-use development as the second and final phase of its Winterfield Place development.