While its athletics department has been busy piecing together land near The Diamond, VCU has snapped up some additional real estate near Monroe Park.
The university’s real estate foundation last month purchased 104-110 N. Belvidere St. for $5.07 million.
At 104 N. Belvidere St. is a 9,200-square-foot brick office building used by VCU’s human resources department. The adjacent parcel at 106-110 N. Belvidere St. is a surface parking lot used by the university.
The parcels total about one-quarter of an acre and were assessed by the city this year at a combined $1.61 million. VCU’s acquisition closed Aug. 18, city records show.
While the sellers, Hamid and Ali Gharagozloo, had the property rezoned in 2018 to allow for a mix of uses, VCU spokesman Mike Porter said in an email Thursday there are no changes proposed for the property.
The university’s master plan, adopted in 2019, doesn’t outline any new projects for the North Belvidere land. To help to enact the master plan, VCU recently adopted a budget of $1.2 billion for construction projects from 2022 to 2028.
For much of the past year, VCU has been focused on the area surrounding The Diamond, where the university is planning an athletics village.
Last year it bought the Greyhound Maintenance station and Salvation Army properties along Hermitage Road for a total of $16.2 million, then this spring it bought a smaller parcel at 2700 Hardy St. where James River Distillery operates for $183,000.
The university had been busier near its Monroe Park campus three to four years ago.
In the span of a few months of 2018, it purchased a half-acre site at the intersection of North Belvidere and West Grace streets for nearly $4 million, as well as the former The Mansion 534 building on North Harrison Street for $3.5 million. A year prior, VCU bought the old New York Fried Chicken building at 501 W. Broad St. for just under $3 million.