Construction of massive Fulton Yard development finally set to begin

A rendering of Fulton Yard, a mixed-use development near Rocketts Landing. (BizSense file)

Nearly three years since its planning began, a major real estate development next to Rocketts Landing is set to get construction underway while another nearby is going vertical.

Zimmer Development Co. is preparing to break ground in the next several months on Fulton Yard, a mixed-use project on about 20 acres at 201 Orleans St., 25 Nicholson St. and an unaddressed parcel along Old Osborne Turnpike.

Spanning four buildings, the project will add 535 apartments and over 100,000 square feet of commercial space to the neighborhood.

The North Carolina-based developer has been planning Fulton Yard since 2019, including filing plans and getting the appropriate entitlements within four months.

It continued on schedule into 2020 when the company purchased the land for $5 million. Then the pandemic hit, and with it came delays.

“The pandemic slowed us down. We didn’t mind sitting on (the project) longer than we’d originally planned, but that’s how it goes,” said Landon Zimmer, Fulton Yard’s project manager. “We’re looking forward to developing that site.”

In late May or early June, Zimmer said, they’ll break ground on a pair of mixed-use buildings on Orleans Street. Those two buildings will bring over 200 apartments and 3,200 square feet of commercial space and be considered the first phase of Fulton Yard.

Zimmer said the next phases will break ground shortly after.

Fulton Yard will rise on a former CSX railroad parcel on the east side of Route 5. (Mike Platania photos)

“We’re going to start pushing on the (Old Osborne Turnpike) tract. We’re looking to move forward on the remainder soon thereafter,” he said, referencing the 15-acre parcel to the south. That site will house the remainder of Fulton Yard’s apartments, as well as some retail space.

The last slice of the project will be at 25 Nicholson St., which Zimmer said will be all retail and office space.

3North is the project’s architect and North Carolina-based Evolve Cos. is its general contractor. Icon Commercial’s Robert Jones and Thalhimer’s Connie Jordan Nielsen have the listing for Fulton Yard’s commercial space.

Zimmer said he expects an 18-month buildout once construction begins, which would give Fulton Yard a late 2023 or early 2024 completion.

Meanwhile, the next phase of Rocketts Landing proper is well underway.

WVS Cos. and PRG Real Estate are going vertical on the Block 8 apartments in Rocketts Landing.

Located adjacent to Zimmer’s Nicholson Street parcel at 4501 E. Main St., Block 8 is a six-story building with 203 units and sub-surface parking.

PRG and WVS broke ground on the Block 8 apartments last winter and PRG CEO Sam Foster said they’re looking to begin pre-leasing the units this summer.

“Those are going to deliver at the end of the year,” Foster said.

An apartment building is going up in Rocketts Landing.

Philadelphia-based PRG is a property management firm that’s also an equity partner in many of WVS’ developments.

Saunders + Crouse Architects is Block 8’s designer and KBS is its general contractor. Foster said their familiarity with both the site, WVS, and KBS allowed them to quickly go vertical.

“We already built like 300 apartments there. It makes it a lot easier when you’re doing the same deals with the same partners and contractors,” Foster said. “And we play nice with the city and don’t cause them any problems.”

Fulton Yard and Rocketts Landing both straddle the Richmond/Henrico border.

Foster said they have more in store for Rocketts Landing. To the immediate north of Block 8 is 4401 E. Main St., a roughly 1.8-acre site owned by an entity tied to WVS that Foster said will eventually be home to the Block 6 apartments.

“We’ll probably purchase the land in the next three to four months and break ground by the end of year,” he said. “It’ll be another couple hundred units.”

A rendering of Fulton Yard, a mixed-use development near Rocketts Landing. (BizSense file)

Nearly three years since its planning began, a major real estate development next to Rocketts Landing is set to get construction underway while another nearby is going vertical.

Zimmer Development Co. is preparing to break ground in the next several months on Fulton Yard, a mixed-use project on about 20 acres at 201 Orleans St., 25 Nicholson St. and an unaddressed parcel along Old Osborne Turnpike.

Spanning four buildings, the project will add 535 apartments and over 100,000 square feet of commercial space to the neighborhood.

The North Carolina-based developer has been planning Fulton Yard since 2019, including filing plans and getting the appropriate entitlements within four months.

It continued on schedule into 2020 when the company purchased the land for $5 million. Then the pandemic hit, and with it came delays.

“The pandemic slowed us down. We didn’t mind sitting on (the project) longer than we’d originally planned, but that’s how it goes,” said Landon Zimmer, Fulton Yard’s project manager. “We’re looking forward to developing that site.”

In late May or early June, Zimmer said, they’ll break ground on a pair of mixed-use buildings on Orleans Street. Those two buildings will bring over 200 apartments and 3,200 square feet of commercial space and be considered the first phase of Fulton Yard.

Zimmer said the next phases will break ground shortly after.

Fulton Yard will rise on a former CSX railroad parcel on the east side of Route 5. (Mike Platania photos)

“We’re going to start pushing on the (Old Osborne Turnpike) tract. We’re looking to move forward on the remainder soon thereafter,” he said, referencing the 15-acre parcel to the south. That site will house the remainder of Fulton Yard’s apartments, as well as some retail space.

The last slice of the project will be at 25 Nicholson St., which Zimmer said will be all retail and office space.

3North is the project’s architect and North Carolina-based Evolve Cos. is its general contractor. Icon Commercial’s Robert Jones and Thalhimer’s Connie Jordan Nielsen have the listing for Fulton Yard’s commercial space.

Zimmer said he expects an 18-month buildout once construction begins, which would give Fulton Yard a late 2023 or early 2024 completion.

Meanwhile, the next phase of Rocketts Landing proper is well underway.

WVS Cos. and PRG Real Estate are going vertical on the Block 8 apartments in Rocketts Landing.

Located adjacent to Zimmer’s Nicholson Street parcel at 4501 E. Main St., Block 8 is a six-story building with 203 units and sub-surface parking.

PRG and WVS broke ground on the Block 8 apartments last winter and PRG CEO Sam Foster said they’re looking to begin pre-leasing the units this summer.

“Those are going to deliver at the end of the year,” Foster said.

An apartment building is going up in Rocketts Landing.

Philadelphia-based PRG is a property management firm that’s also an equity partner in many of WVS’ developments.

Saunders + Crouse Architects is Block 8’s designer and KBS is its general contractor. Foster said their familiarity with both the site, WVS, and KBS allowed them to quickly go vertical.

“We already built like 300 apartments there. It makes it a lot easier when you’re doing the same deals with the same partners and contractors,” Foster said. “And we play nice with the city and don’t cause them any problems.”

Fulton Yard and Rocketts Landing both straddle the Richmond/Henrico border.

Foster said they have more in store for Rocketts Landing. To the immediate north of Block 8 is 4401 E. Main St., a roughly 1.8-acre site owned by an entity tied to WVS that Foster said will eventually be home to the Block 6 apartments.

“We’ll probably purchase the land in the next three to four months and break ground by the end of year,” he said. “It’ll be another couple hundred units.”

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Bruce Milam
Bruce Milam
2 months ago

Those quotes sound just like Sam Foster, one of the nicest gentleman you can meet in the apartment business. Rocketts Landing has become an exurb of the City stretching the urban feel and look now for miles along the river. I had the pleasure of photographing it from the party deck of Shiplock Views Apartments on a crystal clear evening the first week of February and it’s surprising in its mass. The development by Zimmer will take it from the river and into the old industrial area improving Rocketts even more in a community feel.

Brian Glass
Brian Glass
2 months ago

A question…..How will the area deal with the additional traffic?

Lee Clark
Lee Clark
2 months ago
Reply to  Brian Glass

As a resident of RL, I am concerned about the impact of all of this on little Dock Street

Tricia Maurer
Tricia Maurer
2 months ago
Reply to  Lee Clark

Agree – I am hoping they eventually put no left turns on Dock St. headed south from the city to RL. At least during rush hours.

Ian Davenport
Ian Davenport
2 months ago
Reply to  Brian Glass

The Richmond 300 master plan calls for adding a stoplight at Orleans and Williamsburg (which is already sorely needed) and hopefully will also involve resurfacing the entirety of Williamsburg (which is even more sorely needed). I think these developments, along with the removal of the Fulton Gas Works building and conversion of that parcel into a park, will lead to additional city resources flowing to the area. So much the better if that means increased investment in Greater Fulton.

Wayne Smith
Wayne Smith
2 months ago

Hope they like trains!!