It turns out that Kinsale Capital Group is planning more than just an office renovation on the land it owns near Willow Lawn.
The publicly traded specialty insurance company led by CEO Michael Kehoe, with the help of Marchetti Development, is planning a $450 million redevelopment of the former Anthem Inc. campus at the northeast corner of West Broad Street and Staples Mill Road.
According to documents filed in Henrico County, they’re looking to build nearly a million square feet of new construction on the 29-acre plot, with plans for 692 apartments, a 147-room hotel, more than 350,000 square feet of new office space and over 32,000 square feet of street-level retail.
Kinsale and Marchetti Development, a local firm led by father-son duo Joe Marchetti Jr. and Joe Marchetti III, are seeking a provisional-use permit to green-light the project. Their request was heard at the Henrico Planning Commission meeting Thursday night, where the commission unanimously recommended approval.
The plans for the development – referred to as Kinsale Center in planning documents – emerged just a few days after Kinsale announced its plans to relocate from its 3-year-old headquarters to a former Elevance Health building at 2015 Staples Mill Road. Anthem rebranded to Elevance last year.
Kinsale, which has a headcount of 545 employees, bought the entire Elevance complex late last year for $76 million before selling off an Elevance-occupied office at 2103 Staples Mill Road for $66 million this summer.
The deal left Kinsale owning about 23 acres. Plans show that Kinsale Center would replace nearly all the surface parking lots on the site.
The tallest building at the development would be an eight-story hotel along Broad Street next to Cook Out. Around the site’s existing office buildings would rise three apartment buildings: a seven-story, 261-unit building behind the under-construction Popeyes Louisiana Kitchen; a five-story, 173-unit building facing Staples Mill Road; and a five-story, 258-unit apartment building at the north end of the property along Thalbro Street. Two of the three apartment buildings would have ground-floor commercial space.
Marchetti and Kinsale are also planning a trio of six-story office buildings to rise on the property: a pair totaling 214,000 square feet at the northwestern corner of the property, and a 131,000-square-foot office at the corner of West Broad Street and Staples Mill Road.
Nearly 3,800 parking spaces are planned to support the Kinsale Center, including a new, 1,400-space deck at the northern end of the property. It’s described in plans as pedestrian-oriented, and between each building would be outdoor furniture, public art and green spaces.
After Thursday’s meeting Joe Marchetti III said they were glad to get the Planning Commission’s approval, and that in planning Kinsale Center, they set out for it to be an upscale, high-quality development.
“The expectation is that it’ll be a gateway to Henrico County from the City of Richmond,” he said.
Added Joe Marchetti Jr.: “The Kinsale Center is a world-class project that will showcase energy-efficient buildings with stylish exterior designs.”
The total buildout of Kinsale Center could cost around $450 million, Joe Marchetti Jr. said, a total that doesn’t include the $50 million Kinsale is planning to invest into the 2015 Staples Mill Road office. The development would be built in phases, and Joe Marchetti III said he expects it will take seven to 10 years to fully build out.
He added that they’re now anticipating their request will be heard by Henrico’s Board of Supervisors at its Dec. 12 meeting.
Baskervill is the project designer, Timmons Group is the engineer and Kimley-Horn conducted a traffic study for the project. Marchetti Development is acting as the developer. Marchetti and Kinsale are being represented by Roth Jackson’s Andy Condlin in the provisional-use permit request.
Kinsale Center is the latest in a string of major redevelopments planned for the Westwood area of Henrico County.
The Ukrop family and Pivot Development are looking to redevelop the adjacent, 19-acre Ukrop’s Homestyle Foods complex to include around 1,000 multifamily units plus more retail, office and hotel uses.
Federal Realty Investment Trust, the Maryland firm that owns Willow Lawn, is looking to give the longtime shopping center another makeover, this time with over 2,200 residential units and 500,000 square feet of commercial space in the pipeline. Initially built as a shopping mall in the 1950s, Willow Lawn has gone through a number of iterations over the years.
The Ukrops’ proposal was approved by the county earlier this year, while Federal Realty’s rezoning request for Willow Lawn is still pending.