6-story apartment building planned for Broad Street parking lot

6-story apartment building planned for Broad Street lot

The development site is currently a parking lot between the Bank of America branch and Lalo’s Cocina. (Mike Platania photo)

Another of Richmond’s surface parking lots could be in line to be transformed into residential use.

Zac Frederick’s Crescent Preservation & Development Co. is planning a multifamily development to rise at 2613 W. Broad St., which is currently a parking lot for a Bank of America branch next to Lalo’s Cocina Mexican restaurant across from the Science Museum.

Tentative plans for the site include a six-story, 39-unit apartment building, but Frederick said they’re still in the early design stages.

Zac Frederick

“We’re still going through the motions as far as exterior design in communication with the city,” Frederick said, adding that he’s also considering a for-sale residential project or office space for the site.

Frederick bought the roughly 0.2-acre site along with the neighboring Bank of America branch in 2016 for $1.2 million. The intent was always to eventually develop the parking area, which is zoned B-5 Central Business district. In order to build six stories, Frederick is seeking a special-use permit from the city.

“(The plan) is really just to maximize density and still be in compliance with zoning and neighborhood desires,” he said.

Frederick said he’d like to have the building’s design finalized and ready to go before the city’s Planning Commission in late January or early February.

Jennifer Mullen of Roth Jackson is representing Crescent in the zoning case, and Walter Parks Architects is the project’s designer.

An early drawing of the building, which might include 42 parking spaces in a ground-floor deck.

It’s one of a handful of projects Frederick has in the works in and around Richmond.

He’s teamed up with fellow local development firm Spy Rock Real Estate on a 580-home project on the site of the former Henrico Plaza, as well as the Brewer’s Row project rising around Hardywood Park Craft Brewery’s near The Diamond.

Over in Church Hill, he’s also working on bringing over a dozen townhomes and condos to a former auto shop site at 2018 E. Broad St.

“East Broad is moving forward as contemplated. We’re in the construction drawing phase now,” Frederick said. “I’m hoping to start construction in the second quarter of 2022.”

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Bruce Milam
Bruce Milam
1 month ago

I couldn’t be happier for Zac. He’s selected some great partners as well in Spy Rock, and on this one and Shockoe Valley in Broker Bill Mattox. I look forward to the rebirth of that Henrico Plaza site.