A rendering of the planned 6-story structure. (Courtesy city documents)
A sizable residential project along Arthur Ashe Boulevard earned City Council’s stamp of approval this week.
Council voted on Monday to grant a special-use permit for D.C.-based Outlier Realty Capital’s proposed cohousing project at 1101 N. Arthur Ashe Blvd.
The project will feature 29 apartments with a total of 148 bedrooms. Each apartment will include shared common, kitchen and living areas with five or six private bedrooms.
Common and shared areas at an Outlier coliving project in D.C. (Courtesy Common)
Monthly rent at the coliving project would start around $800 per bedroom. The six-story building also will feature 1,500 square feet of commercial space on the ground floor.
The matter was on Council’s consent agenda and was approved unanimously.
It’s unclear when the project will break ground or what its budget is. Outlier Managing Partner Peter Stuart was not available for comment by press time. The company is under contract to purchase the 0.3-acre site.
While the cohousing is in its early stages, a nearby residential development in Scott’s Addition is putting on its finishing touches.
The Nest, a six-story, 118-unit apartment building from Tom Papa’s Fountainhead Properties at 3105 W. Marshall St., has begun moving in residents.
The Nest is preparing to move in residents this month. (Mike Platania)
“We’ll be in full gear there Aug. 1. It is a surprisingly strong market, I’ll say that. I didn’t know what to expect,” Papa said. “I don’t know if it’ll stay strong, but people are looking to the day past COVID and want to be in Scott’s Addition.”
The Nest features two commercial spaces facing Marshall Street, and Papa said they’ve got a letter of intent out with a prospective tenant for one of the spaces, while the other will be used as a leasing office at first.
The project also features a ground-level parking deck and is near a Pulse station on Broad Street. Papa said he has some concerns long term about including parking decks in his projects.
Tom Papa
“I worry that the parking decks that I’m building will become an albatross around my neck in 15 years,” Papa said. “With Uber, Lyft, and scooters — whatever it is, there’s a lot of pressure being taken off the need to own a car. All these neighborhoods are walkable; everything is going in that direction.”
Adjacent to The Nest is another apartment building, The Summit, from local development firm SNP Properties.
A rendering of the planned 6-story structure. (Courtesy city documents)
A sizable residential project along Arthur Ashe Boulevard earned City Council’s stamp of approval this week.
Council voted on Monday to grant a special-use permit for D.C.-based Outlier Realty Capital’s proposed cohousing project at 1101 N. Arthur Ashe Blvd.
The project will feature 29 apartments with a total of 148 bedrooms. Each apartment will include shared common, kitchen and living areas with five or six private bedrooms.
Common and shared areas at an Outlier coliving project in D.C. (Courtesy Common)
Monthly rent at the coliving project would start around $800 per bedroom. The six-story building also will feature 1,500 square feet of commercial space on the ground floor.
The matter was on Council’s consent agenda and was approved unanimously.
It’s unclear when the project will break ground or what its budget is. Outlier Managing Partner Peter Stuart was not available for comment by press time. The company is under contract to purchase the 0.3-acre site.
While the cohousing is in its early stages, a nearby residential development in Scott’s Addition is putting on its finishing touches.
The Nest, a six-story, 118-unit apartment building from Tom Papa’s Fountainhead Properties at 3105 W. Marshall St., has begun moving in residents.
The Nest is preparing to move in residents this month. (Mike Platania)
“We’ll be in full gear there Aug. 1. It is a surprisingly strong market, I’ll say that. I didn’t know what to expect,” Papa said. “I don’t know if it’ll stay strong, but people are looking to the day past COVID and want to be in Scott’s Addition.”
The Nest features two commercial spaces facing Marshall Street, and Papa said they’ve got a letter of intent out with a prospective tenant for one of the spaces, while the other will be used as a leasing office at first.
The project also features a ground-level parking deck and is near a Pulse station on Broad Street. Papa said he has some concerns long term about including parking decks in his projects.
Tom Papa
“I worry that the parking decks that I’m building will become an albatross around my neck in 15 years,” Papa said. “With Uber, Lyft, and scooters — whatever it is, there’s a lot of pressure being taken off the need to own a car. All these neighborhoods are walkable; everything is going in that direction.”
Adjacent to The Nest is another apartment building, The Summit, from local development firm SNP Properties.
I think $800-950 per month for a room in a college dorm style arrangement is utterly insane but apparently there’s people with loads of money who can’t wait to move in.
Keep in mind the average price for a 1 bdr in the city is now over $1100.
Yes, but keep in mind these are 5-6 bedroom apartments. That means $4000-$5,700 a month for the full unit. No wonder it comes with full maid service. Does it include a butler too, or are they calling them the RAs? I can see why rental might as short as a 30-day periods. Who has 5 friends that want to live together? Let alone living with 5 other strangers! Are they planning to film CBS show Big Brother here?!?!
One of the great mysteries of the Richmond Area is they are building thousands of near million dollar homes and thousands of apartments with $1,500 dollar rents.
But at the same time even before the Virus came to town I have not seen any terrific paying jobs that would even come close to letting someone even raise enough money in a pay check to pay for this.
In fact these things are double and triple what I currently make and I have noticed that a lot of jobs barely pay more then $10 dollars a hour in Richmond.
I note that if no one can afford those places, the developers will go broke, and the places will get cheaper. On the other hand, I think you might be a bit confused about how much most jobs in Richmond pay, if you look at the stats, which the developers undoubtedly did. The evidence is that people can afford them, and have been moving into them. The median household income in Richmond is around 42k. Which means half of Richmond makes over 42k. Given 54k is enough to easily afford those apartments, clearly almost half of Richmond can afford them.… Read more »
GRTC eliminated many routes in lower income areas and replaced them with the Pulse. Now landlords know they can charge a premium for apartments near the Pulse line just like they do in DC with the Metro. Many people are seeing less and less access to mass transit in Richmond.
The point I’ve been trying to make is that there is a growing perception (and I’m not saying I agree with it) that transportation inequities are growing in Richmond. Dockless scooter companies routinely geofence around lower income neighborhoods. An article in today’s Times-Dispatch claims bike lanes are widening racial disparities. The protesters are not going anywhere. It’s only a matter of time before they turn their wrath to this.
that perception is totally there, but not within the groups oft claimed.
Anarchist VCU 25 yo are totally pissed they can’t live in the fan anymore. But they are ironically the problem they complain against.
That said, transportation in Richmond should, and could, be better.
If more people are renting near the pulse, for the pulse, your points contradict each other..