The nearly 6-acre site has sat unused for over six years since plans for a Pleasants Hardware store fell through. (Mike Platania photo)
Another sizable swath of apartments is in the works along the Broad Street stretch between Scott’s Addition and Willow Lawn, while adding more momentum to the Westwood area.
Phoenix, Arizona-based Alliance Residential Co. is under contract to purchase 5.75 acres at 4400 W. Broad St., where it plans to build a pair of apartment buildings totaling 340 units.
The seller in the pending deal is Motleys Asset Disposition Group, which previously used the site as its headquarters. The acreage splits the Richmond-Henrico county line, however the bulk of its 5.75 acres are in Henrico.
In recent weeks a provisional-use permit application was filed in Henrico for a project dubbed “Broadstone West Broad.” Broadstone is Alliance’s “core” brand of multifamily buildings with similar projects in Pompano Beach, Florida and Plano, Texas.
Alliance is a privately-held firm that develops, acquires and manages multifamily real estate. Per its website, it has a national presence and has built or acquired over 100,000 units in its 22-year history.
A drawing of the four-story building that would front West Broad Street. (County documents)
Alliance Director of Development Justin Donaldson is listed as the land’s contract purchaser on the PUP application.
Plans show Broadstone West Broad would include an E-shaped, West Broad-facing building that would reach four stories and include 212 units. Behind that would rise a 5-story, 128-unit building. In total, the project would include 428 parking spots, 94 of which would be in a deck in the first building.
Alliance declined to comment. Motleys President Mark Motley confirmed that the land is under contract but declined to comment further.
The three-parcel assemblage was most recently assessed at a combined $2.4 million, county and city records show. Entities tied to Motleys have owned the land since 1996, when they bought it for a combined $1.8 million.
Poole & Poole Architects is listed as the project’s designer and Timmons Group its engineer. Roth Jackson’s Andy Condlin is representing Motleys in the PUP process.
Behind the first building would be a second, five-story apartment building with 128 units.
The Alliance project would add more apartment density along that stretch of Broad Street. It will sit just west of Spy Rock Real Estate Group’s The Ella, a mixed-use project that includes 250 apartments as well as 18,000 square feet of commercial space and a Courtyard Marriott hotel, and Kotarides Co.’s neighboring complex of more than 200 apartments.
Alliance’s proposal also shows continued interest in Henrico’s Westwood area, a 500-plus acre tract the county is pushing as a possible next iteration of Scott’s Addition.
Other apartment projects to arrive in the neighborhood include the 262-unit Tapestry West apartments at 2031 Maywill St. Spy Rock also is planning to build a five-story, 245-unit building at 2001 Dabney Road, less than a mile north of The Ella.
The Motleys property was also previously planned to become a flagship store for Pleasants Hardware, before that deal was scrapped in 2016 when the Sauer family sold the retail chain to a Virginia Beach-based firm. The land has been vacant ever since.
The nearly 6-acre site has sat unused for over six years since plans for a Pleasants Hardware store fell through. (Mike Platania photo)
Another sizable swath of apartments is in the works along the Broad Street stretch between Scott’s Addition and Willow Lawn, while adding more momentum to the Westwood area.
Phoenix, Arizona-based Alliance Residential Co. is under contract to purchase 5.75 acres at 4400 W. Broad St., where it plans to build a pair of apartment buildings totaling 340 units.
The seller in the pending deal is Motleys Asset Disposition Group, which previously used the site as its headquarters. The acreage splits the Richmond-Henrico county line, however the bulk of its 5.75 acres are in Henrico.
In recent weeks a provisional-use permit application was filed in Henrico for a project dubbed “Broadstone West Broad.” Broadstone is Alliance’s “core” brand of multifamily buildings with similar projects in Pompano Beach, Florida and Plano, Texas.
Alliance is a privately-held firm that develops, acquires and manages multifamily real estate. Per its website, it has a national presence and has built or acquired over 100,000 units in its 22-year history.
A drawing of the four-story building that would front West Broad Street. (County documents)
Alliance Director of Development Justin Donaldson is listed as the land’s contract purchaser on the PUP application.
Plans show Broadstone West Broad would include an E-shaped, West Broad-facing building that would reach four stories and include 212 units. Behind that would rise a 5-story, 128-unit building. In total, the project would include 428 parking spots, 94 of which would be in a deck in the first building.
Alliance declined to comment. Motleys President Mark Motley confirmed that the land is under contract but declined to comment further.
The three-parcel assemblage was most recently assessed at a combined $2.4 million, county and city records show. Entities tied to Motleys have owned the land since 1996, when they bought it for a combined $1.8 million.
Poole & Poole Architects is listed as the project’s designer and Timmons Group its engineer. Roth Jackson’s Andy Condlin is representing Motleys in the PUP process.
Behind the first building would be a second, five-story apartment building with 128 units.
The Alliance project would add more apartment density along that stretch of Broad Street. It will sit just west of Spy Rock Real Estate Group’s The Ella, a mixed-use project that includes 250 apartments as well as 18,000 square feet of commercial space and a Courtyard Marriott hotel, and Kotarides Co.’s neighboring complex of more than 200 apartments.
Alliance’s proposal also shows continued interest in Henrico’s Westwood area, a 500-plus acre tract the county is pushing as a possible next iteration of Scott’s Addition.
Other apartment projects to arrive in the neighborhood include the 262-unit Tapestry West apartments at 2031 Maywill St. Spy Rock also is planning to build a five-story, 245-unit building at 2001 Dabney Road, less than a mile north of The Ella.
The Motleys property was also previously planned to become a flagship store for Pleasants Hardware, before that deal was scrapped in 2016 when the Sauer family sold the retail chain to a Virginia Beach-based firm. The land has been vacant ever since.
It’s just the beginning.
We will see how this works between City and County. No mention of the City site plan in the email. And this property only has access via Broad Street. We used to joke about the delinquent tax sales being sold just over the “line” in Henrico. The front of the old showroom was the city/county line. Thus the City will have to be involved for access, parking (if lot is used for it), and landscaping. Love to see a site plan.
This is cool how they are turning parking spaces into new housing a lot of Cities in Califroinia would beg to be in the place Richmond is wilth the ability to add so much new housing in the city.
But I wish they would make the apartmetns like classic 1900’s brown stones or 1930’s buildings in that this new building looks like shipping containers stacked up one another.