Another Thalhimer-owned property is being teed up for new development — and this time an out-of-town firm is involved in the deal.
Thalhimer Realty Partners and Charlotte-based Crescent Communities have submitted plans for a seven-story apartment building to rise on the former Wesco Distribution site at 2902 N. Arthur Ashe Blvd.
Dubbed in plans as “Novel Scott’s Addition,” the new 83,000-square-foot building would add 272 apartments across from The Diamond.
The project would be the first in the Richmond region for Crescent Communities, a North Carolina development firm whose portfolio spans the country and includes dozens of multifamily, mixed-use, office and industrial projects. The firm is not affiliated with locally-based Crescent Preservation & Development Co.
TRP acquired the 3.2-acre Wesco site in late 2019 and had it rezoned in the spring. Wesco, an electrical supply company, has since moved its local headquarters to Ashland.
Crescent is listed as the developer of the project, and TRP as the owner, though it’s unclear whether Crescent would purchase the land from TRP. Crescent representatives as well as TRP principal Matt Raggi declined to comment for this story.
Per its website, Crescent brands all of its multifamily projects under the “Novel” name. Plans show that the building would be entirely residential and without a commercial element, similar to a six-story, 126-unit apartment project TRP is working on along Belleville Street in Scott’s Addition’s historic district.
Amenities at Novel Scott’s Addition would include a pool, multiple courtyards and a 362-space parking garage. Tysons-based architect KTGY is the project’s designer, and local firm Kimley-Horn is its engineer.
The Novel proposal continues an especially busy few months for TRP.
In late August it bought a warehouse not far from the Novel site at 1717 Rhoadmiller St. and 2510 Hermitage Road for $2 million. Later that month it filed plans for a 271-unit mixed-use building to rise on a surface lot at 423 Hull St. in Manchester, and in June it spent $2.75 million on 3.5 acres of land along Chamberlayne Avenue in Northside.
By the end of the year the city is expected to issue a long-awaited request for proposals to redevelop The Diamond and the land surrounding it, but other major changes along Arthur Ashe Boulevard are already in motion.
To the north of the Novel site, TRP is planning a retail and restaurant project, “Scott’s Walk” at 3064 N. Arthur Ashe Blvd, and on the other side of the train tracks Bow Tie Partners is mulling its options for the 17-acre plot of land surrounding its movie theater. Once eyed by The Cordish Cos. for a casino, the land is now being considered for other entertainment projects.
Across Leigh Street from Bow Tie, D.C. developers Level 2 Development and SJG Properties recently spent $12.5 million on just over 3 acres at 1117-1209 N. Arthur Ashe Blvd. where they’re planning an $80 million mixed-use project.