New York-based Aurelie Capital is planning to redevelop 16 acres at 2314 Hungary Road, where the 56-year-old Laurel Park Shopping Center currently stands, into a mixed-use project with 350 apartments and 12,000 square feet of retail space. (File rendering)
A New York developer’s plan to raze the 56-year-old Laurel Park Shopping Center in Henrico took a step forward Thursday evening.
The county’s planning commission voted to rezone and grant a provisional use permit for Laurel Park, a proposed mixed-use project at 2314 Hungary Road. Aurelie Capital plans to replace the aging retail property with 350 apartments, 72 of which would be townhome-style, along with 12,000 square feet of commercial space.
The Laurel Park Shopping Center.
Aurelie bought the shopping center and its 16 acres in March for $1.5 million. The firm’s founder, Pavan Malhotra, previously said they’d ideally break ground on the project in mid-2021.
At Thursday’s meeting, Henrico’s planning commission recommended the site be rezoned from B-2C Business District to R-6C General Residence District, as well as granting a PUP that allows for commercial uses.
Aurelie’s rezoning and PUP request for the project was previously deferred at the commission’s September meeting before earning a unanimous recommendation at Thursday’s meeting.
The matter now heads to the county’s Board of Supervisors. The board’s next meeting agenda has not been posted as of press time.
New York-based Aurelie Capital is planning to redevelop 16 acres at 2314 Hungary Road, where the 56-year-old Laurel Park Shopping Center currently stands, into a mixed-use project with 350 apartments and 12,000 square feet of retail space. (File rendering)
A New York developer’s plan to raze the 56-year-old Laurel Park Shopping Center in Henrico took a step forward Thursday evening.
The county’s planning commission voted to rezone and grant a provisional use permit for Laurel Park, a proposed mixed-use project at 2314 Hungary Road. Aurelie Capital plans to replace the aging retail property with 350 apartments, 72 of which would be townhome-style, along with 12,000 square feet of commercial space.
The Laurel Park Shopping Center.
Aurelie bought the shopping center and its 16 acres in March for $1.5 million. The firm’s founder, Pavan Malhotra, previously said they’d ideally break ground on the project in mid-2021.
At Thursday’s meeting, Henrico’s planning commission recommended the site be rezoned from B-2C Business District to R-6C General Residence District, as well as granting a PUP that allows for commercial uses.
Aurelie’s rezoning and PUP request for the project was previously deferred at the commission’s September meeting before earning a unanimous recommendation at Thursday’s meeting.
The matter now heads to the county’s Board of Supervisors. The board’s next meeting agenda has not been posted as of press time.
I had had my eye on that dilapidated shopping center for years when I received a call from Pavan saying that he was looking for a unique opportunity in the Richmond area. He wanted to build a class A rental community in an area that local developers passed on because of local bias. I took him to Laurel Park. He had recently rehabbed and sold a rental community off of Staple Mill Road so he was familiar with the territory and recognized the upside in the Hermitage HS district. Pavan said he knew what he could do there if given… Read more »
Bruce,
Do you have any info on who the contractor may be for this project? I represent a local sign company that specializes in this type of work and would love the opportunity to be part of it!
Bruce’s comments were right on target. I’m confident that the finished product will be first class.
I would also like to thank Bruce for including me in his comments. We did indeed work together on the sale of the shopping center.
Adaptive re-use is an essential tool for the County . It eliminates blight and revitalizes areas. Regency Square and Virginia Center Commons are two recent examples of adaptive re-use that are in the works.
I love the developer’s. planning department’s, and RVA BizSense’s over use of term mixed use. We do 99% housing and throw in 2-3 store fronts along a main road and its mixed use. What a laugh. At least Bruce called it what it is, a rental community. Probably just going to build a new free standing Dollar General to replace the one in the center. But it is true the center was at end stage!
Your pessimism will not be rewarded. The shops are likely to be service oriented to those residences that surround it. Don’t expect Dollar General though, nor on the opposite scale, Hermes and TIffany. The local retail dollar is served largely by the big box centers on Staples Mill and Brook Roads nearby which doomed this location. The uses will fit the community.