As it plans a major mixed-use development across the street, Innsbrook’s biggest landlord has unloaded a vacant parcel at the business park’s northern end in a deal that opens the door to hundreds of new apartments.
An entity that includes Highwoods Properties last month sold the 3.3-acre lot at 10945 Nuckols Road to an entity tied to Edwards Communities, which is planning a 250,000-square-foot multiuse building there with Silver Hills Development, also out of Ohio.
The property was purchased for $2.95 million in a deal that closed July 30. The undeveloped parcel, at the southeast corner of Nuckols and Sadler roads, most recently was assessed by Henrico County at $1.07 million. The selling entity, Nuckols Corner Land LLC, purchased the property in 2008 for $1.2 million in a multi-parcel sale.
The four- and five-story Silver Hills building will include 234 apartments, 5,600 square feet of ground-level retail space, nearly 5,000 square feet of office space and a 370-space parking deck. The apartment count is reduced from initial plans that called for 252 units.
A development plan for the project was approved last fall, and the land sale was contingent on that approval, said Jane DuFrane, market lead for Highwoods’ Richmond division.
DuFrane said site work for Silver Hills will start in early September. She said the parking deck would be constructed first, with the apartments and retail and office space built around it.
Called Silver Hills at Innsbrook, the project is one of two that Silver Hills Development is actively working on in the region. It’s also working with the International Mission Board on a 263-unit apartment complex on land beside the group’s headquarters in Richmond.
As with that project, Silver Hills and Edwards are working with Ohio-based Dimit Architects on the Innsbrook apartments. Richmond-based Kimley-Horn is handling engineering, and Lighting Virginia’s Chesterfield office also is involved in the Innsbrook project.
Edwards, which has developed multifamily properties in Ohio, Denver and in Louisville, Kentucky, works with Newport News-based Drucker + Falk for property management. Nathan Shor of S.L. Nusbaum Realty Co. represented Edwards in the transaction.
Attempts to reach Edwards and Silver Hills for comment were unsuccessful.
Plans show the parking deck would rise five stories and total about 114,000 square feet. The deck would be closer to the adjacent U.S. post office on Sadler Place, while the apartments would fill the rest of the site facing Sadler Road, Nuckols and Highwoods Parkway. Plans also show a traffic circle would be installed at Sadler Road and Highwoods Parkway.
The plans show the building would vary between four and five levels, with four levels of apartments above the ground-floor retail space. Apartments would have balconies, and the building’s exterior would have varying facades.
The plans indicate that 158 of the apartments will be one-bedroom and studio units, three would be three-bedroom, and the rest would be two-bedroom floorplans. Sizes would range from about 570 square feet for the studios to nearly 1,400 square feet for the three-bedrooms. Rental ranges are not specified on the plans.
The project adds to an influx of apartment development that’s getting underway across Innsbrook. Earlier this year, Robinson Development Group started work on its Metropolis at Innsbrook development, planned for 700 apartments and 13,000 square feet of commercial and amenity space on a 14-acre site between Dominion Boulevard and Sadler Road.
Meanwhile, Highwoods is seeking approval of its plan for a massive mixed-use development on 34 acres at Nuckols Road and Interstate 295, catty corner across Nuckols from the Silver Hills site. A rezoning request for the project is set to go before the Henrico Planning Commission Thursday after being deferred last month.
Also before the Planning Commission this month is Lingerfelt Development’s proposal to add nearly 1,400 apartments and structured parking across five office building properties it owns in Innsbrook. Planning staff is recommending deferral to address issues related to mixture of uses, appearance and impacts on public infrastructure and services.
Correction: The seller in the deal was Nuckols Corner Land LLC, an entity that includes Highwoods Properties. An earlier version of this story incorrectly identified Highwoods as the seller.