A rendering of Kinsale Center, looking north along Maywill Street. (BizSense file photos)
A nearly half-billion-dollar development near Willow Lawn has been given the thumbs up by Henrico supervisors.
The county board voted Tuesday to approve Kinsale Center, a massive mixed-use project planned to bring nearly 700 apartments, an eight-story hotel and multiple new office buildings to the 29-acre former Anthem Inc. campus at Staples Mill Road and West Broad Street.
Behind the project is its namesake, specialty insurance company Kinsale Capital Group, and Marchetti Development, a local firm led by father-son duo Joe Marchetti Jr. and Joe Marchetti III.
Kinsale is located nearby and is planning to relocate its headquarters to a former office on the property. Last month, Kinsale and the Marchettis unveiled their plans for the broader development that’ll span the former Anthem campus at 1912 Maywill St. Anthem rebranded last year to Elevance Health, which maintains a presence on the site.
The board voted unanimously to approve a provisional-use permit for Kinsale Center at its meeting Tuesday night. There were no public comments for or against the project. Local attorney Andy Condlin of Roth Jackson represented the group in its permit request.
In addition to 692 apartments, Kinsale Center would also include over 350,000 square feet of office space across three new buildings, 32,000 square feet of retail space, and a 147-room hotel. The development is projected to cost at least $450 million and take nearly a decade to fully build out.
The seeds of the project were planted a year ago when Kinsale bought the property for $76 million. In September, it sold off an Elevance Health-anchored office building for $66 million, but held onto the remaining acreage that’s now planned for Kinsale Center.
A redevelopment plan for Willow Lawn Shopping Center and its nearly 37-acre property also was recently approved by the county. (BizSense file)
Kinsale Center is one of three major mixed-use developments planned for the Willow Lawn area that came to light this year.
In March, Henrico supervisors approved the Ukrop family and Pivot Development’s plans for Westmoreland Crossing, a mixed-use redevelopment of the Ukrop’s Homestyle Foods complex that, like Kinsale Center, would add hundreds of multifamily units plus new retail, hotel and office buildings.
A few weeks ago, at its Nov. 14 meeting, the board approved a proposal to transform Willow Lawn Shopping Center. The mall’s owner, Federal Realty Investment Trust, is looking to gradually add over 2,000 units and 500,000 square feet of new commercial space to Willow Lawn, with much of that filling existing parking lots on the shopping center’s 37 acres.
In total, Kinsale Center, Westmoreland Crossing and the new Willow Lawn could add nearly 3,900 new housing units and over 1 million square feet of commercial space to the area.
A rendering of Kinsale Center, looking north along Maywill Street. (BizSense file photos)
A nearly half-billion-dollar development near Willow Lawn has been given the thumbs up by Henrico supervisors.
The county board voted Tuesday to approve Kinsale Center, a massive mixed-use project planned to bring nearly 700 apartments, an eight-story hotel and multiple new office buildings to the 29-acre former Anthem Inc. campus at Staples Mill Road and West Broad Street.
Behind the project is its namesake, specialty insurance company Kinsale Capital Group, and Marchetti Development, a local firm led by father-son duo Joe Marchetti Jr. and Joe Marchetti III.
Kinsale is located nearby and is planning to relocate its headquarters to a former office on the property. Last month, Kinsale and the Marchettis unveiled their plans for the broader development that’ll span the former Anthem campus at 1912 Maywill St. Anthem rebranded last year to Elevance Health, which maintains a presence on the site.
The board voted unanimously to approve a provisional-use permit for Kinsale Center at its meeting Tuesday night. There were no public comments for or against the project. Local attorney Andy Condlin of Roth Jackson represented the group in its permit request.
In addition to 692 apartments, Kinsale Center would also include over 350,000 square feet of office space across three new buildings, 32,000 square feet of retail space, and a 147-room hotel. The development is projected to cost at least $450 million and take nearly a decade to fully build out.
The seeds of the project were planted a year ago when Kinsale bought the property for $76 million. In September, it sold off an Elevance Health-anchored office building for $66 million, but held onto the remaining acreage that’s now planned for Kinsale Center.
A redevelopment plan for Willow Lawn Shopping Center and its nearly 37-acre property also was recently approved by the county. (BizSense file)
Kinsale Center is one of three major mixed-use developments planned for the Willow Lawn area that came to light this year.
In March, Henrico supervisors approved the Ukrop family and Pivot Development’s plans for Westmoreland Crossing, a mixed-use redevelopment of the Ukrop’s Homestyle Foods complex that, like Kinsale Center, would add hundreds of multifamily units plus new retail, hotel and office buildings.
A few weeks ago, at its Nov. 14 meeting, the board approved a proposal to transform Willow Lawn Shopping Center. The mall’s owner, Federal Realty Investment Trust, is looking to gradually add over 2,000 units and 500,000 square feet of new commercial space to Willow Lawn, with much of that filling existing parking lots on the shopping center’s 37 acres.
In total, Kinsale Center, Westmoreland Crossing and the new Willow Lawn could add nearly 3,900 new housing units and over 1 million square feet of commercial space to the area.
Just what we need, more apartments. Really? When will the planning commission stop with granting apartments? Bring commitment to the area and build condos. Ownership is the only way to bring actual good, long-term investment.
Housing is housing and the more the merrier.
Gordon is still right though, we need more ownership in our country again. Of course it doesn’t help that our current tax model is rigged and we get alot of our tax dollars stolen and then transferred to the Rothschilds or sent overseas.
Soon the city of Richmond will be nothing but apartments and no businesses.
Apartments are still being constructed at a record pace because of the pent-up demand created by the Great Housing Recession earlier in the decade, when no apartments were constructed, coupled with an in migration due to job growth in the area.
At some point there will be equilibrium, but the marketplace doesn’t believe it’s reached that point yet. I would suggest keeping an eye on the Diamond District, which hasn’t broken any ground yet. Timing is everything! Hopefully the District won’t be too late.