One of the area’s busiest homebuilders is looking to beef up a planned Chesterfield townhome development by adding condos.
HHHunt has submitted plans to construct a 120-unit condo project on 18 acres of its planned 72-acre, $21 million Wescott development at 4001 Lonas Parkway near Brandermill.
Plans call for the construction of five four-story buildings housing 24 condo units each to be added to the development that’s already slated to include up to 480 townhomes, according to county planning documents.
Jonathan Ridout, HHHunt Communities vice president of land development, said Wescott is being designed to attract a variety of homebuyers, including first-timers and baby boomers looking to downsize. He said adding condos to the project brings another ownership option for potential buyers in a part of the county where single-family home sales continue to exceed $350,000.
“We think it’s an affordable option that could appeal to millennials and baby boomers alike,” Ridout said. “This kind of product type is something we hope to expand in Wescott.”
Called stacked condos, Ridout said the units will range from 1,200 to 1,800 square feet and that each building will include an elevator. A second phase for additional condos is planned depending on sales and demand from the first phase.
“We’re going to test out the market and see how it goes,” he said. “If (condo) sales go strong, we’ll add more; if they aren’t selling as fast as the townhomes, we’ll amend the plans and add more townhomes.”
A price point for the condo units is still being determined, but the townhomes will start in the low to mid-$200,000s.
Crews look to break ground on Wescott next month, with plans to start selling both the townhomes and condos in the second quarter.
While HHHunt will be constructing the townhomes in Wescott, Ridout said the firm is finalizing talks with Ryan Homes to construct the condo component of the development.
Aside from the mix of residential types in Wescott, the development will include a mix of amenities, such as a 2,000-square-foot clubhouse, green space and an amphitheater.
In addition to HHHunt, condo development appears to be catching on with several area developers as homebuilders try to appeal to a mix of buyers.
Farther west along Hull Street Road in Chesterfield’s Woodlake area, Richmond-based Stylecraft Homes is planning phase one of its Hancock Village residential development behind the Walmart-anchored Hancock Village shopping center.
Developers have proposed building 37 townhomes and 34 condos on the 17-acre parcel, according to planning documents.
Meanwhile, local private equity firm Markel | Eagle rezoned 12 acres it owns at the eastern edge of West Broad Village, where it plans to build dozens of single-family homes and condos.