This nearly century-old, 3,700-square-foot building on Libbie Avenue and its parking lot are slated to be razed and redeveloped into 26 condos. (BizSense file images)
As work gets going on new townhomes nearby, a multimillion-dollar deal is setting the stage for more residential development along a transforming stretch of Libbie Avenue.
An LLC affiliated with Urban Generation Living paid $3.5 million earlier this month for the 0.75-acre property at 417-419 Libbie Ave., where the New York-based developer is planning to replace an existing office building with 26 condominiums.
The transaction closed July 8 and lays the groundwork for the project, which the Richmond City Council approved this spring.
UGL, whose local resume includes the condo conversion of the former One Monument Avenue complex on Stuart Circle, is working with a local group that includes Stuart Cantor, president of TitleWorks of Virginia, and Bruce Tyler, a principal at Baskervill. The LLC lists TitleWorks’ building as its address.
Reached this week, Tyler said Baskervill is working on designs for the unit interiors and the group is preparing permit applications. He said construction on the project is likely 12 months out, with an 18-month to two-year buildout expected.
Previously home to Vascular Surgery Associates’ West End office, the nearly century-old office building would be razed to make way for a three- and four-story structure that would fill the site. The building would feature varying facades along Libbie and house the bulk of the condos across three floors above a partially below-grade parking garage.
Conceptual elevations show the condo building with varying facades along Libbie Avenue. (City of Richmond document)
Two additional units would make up the fourth floor, which would be set back from the street with rooftop terraces overlooking Libbie. A community rooftop space for all homeowners also would be provided.
The two- and three-bedroom condos would range from 1,900 to 3,700 square feet in size. Eight units would fill each of the three main floors, with two elevators providing access for all units to the parking garage, which would provide two spaces per unit. The garage would be accessed off Libbie via a ramp and would include storage units and a trash disposal room.
Tyler said unit prices have not been determined. He said a cost estimate for the project has yet to be finalized.
“We worked with the planning staff and the Westhampton Civic Association, and their input was vital to us getting this project through the Planning Commission and City Council,” Tyler said.
The seller of the Libbie site was Libbie Associates, which bought the property in 1990 for $237,500, city records show. The city most recently assessed the property at $2.6 million.
The project is doors down from a 14-unit townhome development that’s underway at 509 and 511 Libbie Ave. Eagle Construction of VA is behind that project, which is filling two single-family residential lots that likewise total about three-fourths of an acre.
Site work is underway on Eagle Construction of VA’s The Row at Westhampton townhome development. (Jonathan Spiers photo)
Called The Row at Westhampton, Eagle’s for-sale townhomes will range between 3,000 and 4,500 square feet in size. Each unit will have between three and five bedrooms, at least 3½ bathrooms and a two- or three-car garage accessed by a shared alley.
The two rows of seven townhomes are being oriented perpendicular to Libbie, with one end of each row fronting the street and the private alley between them with access from Libbie.
The townhomes site is across the street from The Tiber, a condo development that effectively introduced such higher-density residential development along the stretch of Libbie between Grove and Patterson avenues. At Libbie and Patterson, the mixed-use Westhampton Commons development is also adding to the corridor, having recently filled out its last remaining commercial space.
This nearly century-old, 3,700-square-foot building on Libbie Avenue and its parking lot are slated to be razed and redeveloped into 26 condos. (BizSense file images)
As work gets going on new townhomes nearby, a multimillion-dollar deal is setting the stage for more residential development along a transforming stretch of Libbie Avenue.
An LLC affiliated with Urban Generation Living paid $3.5 million earlier this month for the 0.75-acre property at 417-419 Libbie Ave., where the New York-based developer is planning to replace an existing office building with 26 condominiums.
The transaction closed July 8 and lays the groundwork for the project, which the Richmond City Council approved this spring.
UGL, whose local resume includes the condo conversion of the former One Monument Avenue complex on Stuart Circle, is working with a local group that includes Stuart Cantor, president of TitleWorks of Virginia, and Bruce Tyler, a principal at Baskervill. The LLC lists TitleWorks’ building as its address.
Reached this week, Tyler said Baskervill is working on designs for the unit interiors and the group is preparing permit applications. He said construction on the project is likely 12 months out, with an 18-month to two-year buildout expected.
Previously home to Vascular Surgery Associates’ West End office, the nearly century-old office building would be razed to make way for a three- and four-story structure that would fill the site. The building would feature varying facades along Libbie and house the bulk of the condos across three floors above a partially below-grade parking garage.
Conceptual elevations show the condo building with varying facades along Libbie Avenue. (City of Richmond document)
Two additional units would make up the fourth floor, which would be set back from the street with rooftop terraces overlooking Libbie. A community rooftop space for all homeowners also would be provided.
The two- and three-bedroom condos would range from 1,900 to 3,700 square feet in size. Eight units would fill each of the three main floors, with two elevators providing access for all units to the parking garage, which would provide two spaces per unit. The garage would be accessed off Libbie via a ramp and would include storage units and a trash disposal room.
Tyler said unit prices have not been determined. He said a cost estimate for the project has yet to be finalized.
“We worked with the planning staff and the Westhampton Civic Association, and their input was vital to us getting this project through the Planning Commission and City Council,” Tyler said.
The seller of the Libbie site was Libbie Associates, which bought the property in 1990 for $237,500, city records show. The city most recently assessed the property at $2.6 million.
The project is doors down from a 14-unit townhome development that’s underway at 509 and 511 Libbie Ave. Eagle Construction of VA is behind that project, which is filling two single-family residential lots that likewise total about three-fourths of an acre.
Site work is underway on Eagle Construction of VA’s The Row at Westhampton townhome development. (Jonathan Spiers photo)
Called The Row at Westhampton, Eagle’s for-sale townhomes will range between 3,000 and 4,500 square feet in size. Each unit will have between three and five bedrooms, at least 3½ bathrooms and a two- or three-car garage accessed by a shared alley.
The two rows of seven townhomes are being oriented perpendicular to Libbie, with one end of each row fronting the street and the private alley between them with access from Libbie.
The townhomes site is across the street from The Tiber, a condo development that effectively introduced such higher-density residential development along the stretch of Libbie between Grove and Patterson avenues. At Libbie and Patterson, the mixed-use Westhampton Commons development is also adding to the corridor, having recently filled out its last remaining commercial space.
I still question the sub-grade ramp coming out of that 2nd from the left building on a partial hill with the elevated steps on your right and the retaining wall on your left. Libbie is busy road and it is hard enough see and turn off York. And at least York is at grade and not in the bend in the road. Otherwise nice infill design.
Gonna trade that beautiful building for that new prison-look sheep fold? Get it bought, get it built, get it leased. The total lack of individual style and form in modern cracker boxes puts one in mind of elevator music. Z-Z-Z-Z-Z