Stanley Martin Homes is putting the pieces into place for a redevelopment project at Hull Street and Courthouse roads.
The Reston-based builder last month bought two parcels that include Rockwood Golf Park at 10239 Hull Street Road for $2.5 million, according to Chesterfield land records. The land is valued at $1.2 million, per county assessments.
The 12-acre assemblage accounts for about half of the overall site of Stanley Martin’s planned 322-unit condo and townhouse development.
The overall 25-acre site is expected to feature 236 two-over-two condos and 86 townhomes, all of which would be for-sale units. The remainder of the project site consists of the parcels that make up the bulk of Rockwood Square Shopping Center.
The condos are expected to come in 1,600-square-foot and 2,350-square-foot floorplans. Townhomes are planned to be around 2,000 square feet. While price points are still being worked out, units at the development will probably start in the low- to mid-$300,000s, according to Stanley Martin land acquisition manager Laura Vaden.
Stanley Martin hasn’t yet selected a general contractor for the project, Vaden said. She added that the company will create the architectural design in-house.
Read Goode of Divaris Real Estate represented Stanley Martin in the deal.
Stanley Martin plans to buy the main retail strip of Rockwood Square Shopping Center and adjacent parcels from an entity tied to Gary Modjeska of Maryland-based Area Properties LLC, the center’s operator. Modjeska said tenants in the main retail strip are expected to move out of the center by summer or fall.
Stanley Martin expects to close on the rest of the project site by the fall, Vaden said.
The shopping center and golf facility are planned to be demolished to make way for the residential development. The center’s outparcels, which are occupied by users including Starbucks and McDonald’s, aren’t part of the project.
Rockwood Golf Park closed in November, according to signs posted around the facility.
Stanley Martin’s project is situated within the Rockwood Special Focus Area, Chesterfield’s long-range land-use plan intended to guide redevelopment of the aging retail centers and surrounding areas at Hull Street and Courthouse roads. Stanley Martin got the land rezoned for its upcoming project last spring.
All those $300K condo’s and townhomes will back up to the lovely Mallard Cove complex, great for the neighborhood.