A 15-story tower may soon replace this parking lot in Monroe Ward. (Mike Platania photos)
A mystery developer is aiming for what would be one of the tallest buildings in Monroe Ward.
Last week, plans were filed for a 15-story mixed-use building on a half-acre at 115 N. Foushee St. and 3-9 E. Grace St. The lot has been used as parking for decades.
Last fall, Philadelphia-based development firm Parkway Corp. bought the lots for $2.9 million. However, a letter filed with the city indicates that Parkway may be getting ready to flip the land.
A zoning letter was filed last week by Hirschler attorney Brian Jackson on behalf of an unnamed “potential purchaser of the property,” proposing to build a 264,000-square-foot building with 249 apartment units.
The letter states that the buyer’s building would reach 163 feet tall and include 12 floors of apartments above one level of retail/lobby space and a two-level parking deck. A separate lot at 101 W. Grace St. that was part of the deal Parkway struck last fall is not mentioned as part of the development.
Jackson wasn’t available for comment by press time. Calls to Parkway CEO Robert Zuritsky went unreturned.
As it looks to potentially unload the Monroe Ward property, Parkway has another hefty project in the works nearby. Along with local developer SNP Properties, Parkway is planning to build a 12-story, 254-unit building at 200 E. Marshall St. in Jackson Ward. That project is also currently a parking lot.
Originally proposed in summer 2020, Pinecrest’s building is now set to rise 16 stories.
A bit further to the west along Grace Street, Chicago-based Pinecrest is preparing to go vertical on Parc View at Commonwealth, a 16-story tower at 321 W. Grace St.
With 509 bedrooms across 168 rooms and 67 parking spaces, the building falls into Pinecrest’s specialty of student-focused housing. Pinecrest bought the half-acre lot in late 2020 for $2.5 million and CEO Tyler Perlmutter said they’re now preparing to wrap up utility and foundation work.
“Groundbreaking will probably occur at the end of this month,” Perlmutter said. “Then we anticipate to open prior to August of 2024.”
Originally proposed as 15 stories, the building is now planned to rise 16 stories. Perlmutter said they had the ability to add more beds on another floor, so they did so.
Parc View at Commonwealth will also include a 4,100-square-foot commercial space, though Perlmutter said they have neither a tenant nor listing agent lined up for it. Rycon Construction out of Pittsburgh is the project’s general contractor.
A 15-story tower may soon replace this parking lot in Monroe Ward. (Mike Platania photos)
A mystery developer is aiming for what would be one of the tallest buildings in Monroe Ward.
Last week, plans were filed for a 15-story mixed-use building on a half-acre at 115 N. Foushee St. and 3-9 E. Grace St. The lot has been used as parking for decades.
Last fall, Philadelphia-based development firm Parkway Corp. bought the lots for $2.9 million. However, a letter filed with the city indicates that Parkway may be getting ready to flip the land.
A zoning letter was filed last week by Hirschler attorney Brian Jackson on behalf of an unnamed “potential purchaser of the property,” proposing to build a 264,000-square-foot building with 249 apartment units.
The letter states that the buyer’s building would reach 163 feet tall and include 12 floors of apartments above one level of retail/lobby space and a two-level parking deck. A separate lot at 101 W. Grace St. that was part of the deal Parkway struck last fall is not mentioned as part of the development.
Jackson wasn’t available for comment by press time. Calls to Parkway CEO Robert Zuritsky went unreturned.
As it looks to potentially unload the Monroe Ward property, Parkway has another hefty project in the works nearby. Along with local developer SNP Properties, Parkway is planning to build a 12-story, 254-unit building at 200 E. Marshall St. in Jackson Ward. That project is also currently a parking lot.
Originally proposed in summer 2020, Pinecrest’s building is now set to rise 16 stories.
A bit further to the west along Grace Street, Chicago-based Pinecrest is preparing to go vertical on Parc View at Commonwealth, a 16-story tower at 321 W. Grace St.
With 509 bedrooms across 168 rooms and 67 parking spaces, the building falls into Pinecrest’s specialty of student-focused housing. Pinecrest bought the half-acre lot in late 2020 for $2.5 million and CEO Tyler Perlmutter said they’re now preparing to wrap up utility and foundation work.
“Groundbreaking will probably occur at the end of this month,” Perlmutter said. “Then we anticipate to open prior to August of 2024.”
Originally proposed as 15 stories, the building is now planned to rise 16 stories. Perlmutter said they had the ability to add more beds on another floor, so they did so.
Parc View at Commonwealth will also include a 4,100-square-foot commercial space, though Perlmutter said they have neither a tenant nor listing agent lined up for it. Rycon Construction out of Pittsburgh is the project’s general contractor.
Three new downtown towers to be added to the skyscrape. More proof that BLM destroyed the future of the City? More proof that investment dollars are exiting the City? Or is it the opposite, that this City has a great future ahead of it? These three buildings will add nearly a half-billion dollars to Richmond’s assessed value. Onward and, especially, upward!
The only thing BLM destroyed was the statewide Democratic Party. BLM had a choice: they could have reforms in the General Assembly or they could have riots in the streets. They chose riots.
I wish people would stop blaming BLM for everything that went on in Summer 2020. People who rioted are anarchist and opportunist. Simply put. They just used the peaceful protest in the day as cover for their destruction at night. They are cowards and terrorist. They attacked a historical black landmark in Waller’s Jewelry. Just like what happen in Minnesota, people come from all over to cause destruction to a beautiful area. Let Richmond continue to grow in the positive direction it’s trending in.
You must not have paid attention. There was a special session of the GA that summer that specifically addressed criminal justice reform. The demonstrations were incredibly effective at changing state and local laws/policing procedures.
That’s the definition of selective memory. A lot was accomplished in the General Assembly related to criminal justice reform, police, mental health, social justice, and other topics important to BLM. Was everything accomplished? No, because it’s pretty rare for any one group to accomplish everything they want.
More 1-bedroom apartments for transient college and 20 somethings who move from place to place. Residential might be booming but take a glance at sales taxes revenue number for the City of Richmond. Sales tax is flat while the meals taxes collections is way down In fact that City excepts this year that meals tax revenue will almost 25% below FY 19. Given the increases in food costs that tax should be up 10% since it is tied to the meal price. The City is becoming a bedroom community of boring box high rises for the increasing jobs and retail… Read more »
You’re telling half the story and both issues are National, not local: 1) people overwhelmingly shop online, which is why great stores like Nordstrom have left Henrico. Retail is dying and it’s not coming back. 2) Restaurants are still struggling to get back to 70% of what things were like in 2019 because of staffing issues and people not returning to their comfort level for eating out.
RVA is far from boring, but urban life did change with covid.
Bruce – “especially upward” – AMEN to that!! From your keyboard to God’s eyes, my friend!! We could perhaps say ‘four’ towers if we include the mammoth (and gorgeous!!) CoStar headquarters slated to rise on the riverfront. How I wish we could say ‘five’ towers – but all indications are that the 20-story building (originally to be anchored by VCU Health) that has been in the works for the Block D redevelopment has — quite unfortunately — been butchered down to perhaps less than 10 stories.As previously proposed, it would have been one of the tallest buildings north of Broad.… Read more »
“BLM destroyed the future of the city”…do you realize how ridiculous that sounds?,what evidence can you present to prove that the future of the city has been destroyed by BLM?.
The question now is how long will it take for these developers to receive their building permits? Having a review done by a company in California isn’t helpful.
It’s nice they are putting this wasted space to use with new housing over a empty parking lot saving tons of trees and not taking room away from the deer.