A regional homebuilder continues to add to its workload with recent approvals for projects in the city and the suburbs, while also securing land for more condos at Rocketts Landing.
Reston-based Stanley Martin Homes got OKs last week from the Richmond City Council and the Henrico Board of Supervisors for two respective projects: its Carver Square condos at Lombardy and Moore streets, and an expansion of its previously approved ReTreat at One development off Brook Road in the county.
Days earlier, the company also closed on its $2.2 million purchase of an acre along the riverfront at Rocketts Landing, where it’s started construction on 61 condos that will add to an initial block of condos it recently completed.
The projects add to Stanley Martin’s 59-unit Stony Point Landing behind Stony Point Shopping Center, its 130-unit Lakeside Landing at Brook Run Shopping Center, and more than 300 condos between its West Broad Landing and Wistar Glen projects in Henrico. It’s also planning nearly 200 condos next to GreenGate in Short Pump.
With the recent zoning approvals, the company is aiming to submit construction and demo plans next week for Carver Square, which will fill 3 acres across Lombardy Street from Maggie L. Walker Governor’s School. The $30 million project will feature the company’s signature “two-over-two”-style condos, albeit with a more urban design than those it’s built in the suburbs since entering the marketfive years ago.
Jeremy Swink, Stanley Martin’s vice president of land for the region, said the company hopes to start building its first set of condos at Carver Square by summer next year, with its first residents moving in by the end of that year.
Swink said prices for the condos have not been set, but he said they would be comparable in price and size to its other two-over-twos, meaning two-level units stacked above other two-level units. Lower-level units are typically 1,500 square feet, while upper units total 2,500 square feet.
Since proposing Carver Square earlier this year, Swink said the company has enjoyed the support of the neighboring community, specifically from the Carver Civic Association. Jerome Legions, the association’s president, said he’s happy the project has crossed the finish line.
“It is going to be awesome to see Stanley Martin break ground and create condos similar to their development in Rocketts Landing,” Legions said in an email.
“I was concerned earlier this year about the rate in which this project was being reviewed by the city. Glad to see it is a go,” Legions said. “I strongly believe this project is strategically how density should be added because it blends in without overcrowding a community.”
While he acknowledged the length of time it took to secure city approvals, Swink said he’s happy with the end-result. The company worked with attorney Mark Kronenthal with Roth Jackson Gibbons Condlin in its outreach efforts and the review process.
More homes added to ‘ReTreat at One’
In Henrico, Stanley Martin is adding a second section totaling 111 homes to its nearly 500-home ReTreat at One development, which is filling about 65 acres east of Brook Road and along the west side of Interstate 95 between Parham Road and Interstate 295.
Part of the second phase includes land previously rezoned as part of ReTreat at One, site work for which has gotten underway following Stanley Martin’s purchase of the 65 acres earlier this year. The company closed on those parcels, which include a few existing houses that would be replaced, in nine deals totaling upward of $5.22 million, according to county property records.
The second phase will add 37 townhomes, reduced from 67 initially proposed, and 74 houses on an additional 32 acres immediately south of ReTreat at One, on the north side of Scott Road between I-95 and Aberdeen Street. The townhomes would be located on the northern part of the land, creating a transition from the detached homes to the south and the first phase’s mix of townhomes, condos and villa-style homes.
The second-phase townhomes would be two and three stories in height and grouped in four- to six-unit rows. Wetlands on the property would be preserved as open space, and the one- and two-story houses would start at 2,000 square feet and feature of variety of design styles. Swink said prices for the houses have not been set.
The additional homes would share amenities with the rest of ReTreat at One, including a clubhouse with a patio and multipurpose court, a children’s play area, a grilling station and patio, a lake overlook, pedestrian trails, and reserved greenspace for a future pocket park.
With land clearing for the first phase underway, Swink said construction on those homes is aimed to start in May. The project also includes construction of an extension of Magellan Parkway, which Henrico County and VDOT plan to extend from across Interstate 95 via a new bridge, connecting the area west of the interstate with Route 1 near the Brook Road DMV office. The $28 million VDOT SmartScale project is scheduled this fiscal year.
$2M land buy clears way for Rocketts condos
At Rocketts Landing, Stanley Martin closed Oct. 9 on the riverfront acre where it’s building a second round of condos. It paid $2.2 million for the parcel, which Henrico most recently assessed at $742,000.
The 61 units add to a completed block of condos called Riverwalk at Rocketts Landing, all of which sold. Where that section consisted of two-over-twos, the new condos also will include a triplex configuration with two units above one lower unit.
Units will range from 1,500 to 2,500 square feet with four different floorplans and two- and three-bedroom options. Amenities include a fitness center, private garden lots, kayak storage and a pool.
Sales on the new section start this month, and the company is planning to start move-ins early next year. Prices start around $360,000 for the lower-level units and $390,000 for the upper units.