With a zoning approval in hand for a dense mixed-use project in Innsbrook, a Norfolk-based firm has closed on the purchase of the land on which the development will rise.
Robinson Development Group last month purchased 14 acres at 4359 Sadler Road for $7.4 million. The seller was Wells Fargo, which has a campus next door and had left the plot undeveloped.
Robinson filed plans for the site last year, calling for 700 apartments across multiple four- and five-story buildings, as well as nearly 30,000 square feet of commercial space.
The company gained approval in November to rezone the land from business to the county’s Urban Mixed-Use designation, clearing the way for the unnamed project.
Robinson’s purchase of the land closed Dec. 31, per county property records. The land most recently was assessed at $2.9 million.
It’s unclear when Robinson intends to break ground. Its president and director of development Tom Robinson did not respond to requests for comment.
Robinson’s other projects in the region include three apartment complexes along Charter Colony Parkway in Midlothian: Colony at Centerpointe, Sapphire at Centerpointe and Oxygen at Centerpointe.
Meanwhile Highwoods Properties, one of Innsbrook’s biggest landlords, also is pondering a mixed-use plan in the area after it bought the nearby Elks Lodge building last month.
There are a handful of mixed-use projects in Innsbrook already underway, all looking to capitalize on the UMU zoning and the county’s drive for more density.
Commonwealth Properties is set to begin construction on an apartment building at 3500 Cox Road this year, and WVS Cos. and WAM Associates are working on Innslake Place, a 121-unit apartment building at 4235 Innslake Place.
Ohio-based Edwards Communities Development Co. also filed plans last fall for Silver Hills at Innsbrook, a 252-unit complex at 10945 Nuckols Road.