An updated site plan shows access to the development via Willson Road, which bisects the site. Vehicular access is restricted from Route 5. (Image courtesy Thalhimer)
The stage is set for a nearly 800-home development in Varina after a seven-figure land deal recently closed.
East West Partners of Virginia, the corporate entity for local development firm East West Communities, completed its purchase of 261 acres for its Arcadia development at Route 5 and Pocahontas Parkway.
The company paid $4.5 million for the farmland, known as Nelson Farm, according to an announcement from real estate brokerage Thalhimer. The deal closed Feb. 29.
Thalhimer’s David Smith handled sale negotiations for the sellers, listed in property records as members or trustees of the Nelson and Gottwald families.
The transaction was not reflected in Henrico County’s online property records Thursday. It includes 8 more acres than the 253-acre site that Henrico supervisors approved for the project early last year. The additional acreage allows for a second vehicular access required for the project’s second phase.
When the project was proposed in 2022, the parcels that made up the 253-acre site were assessed by the county at just over $1.5 million collectively. A current assessment total for the 261 acres could not be determined without the transaction reflected in land records.
The transaction clears the way for the first phase of Arcadia, called Arcadia West, which would fill land north between the parkway and Willson Road north of Route 5. That area is planned for 500 homes to be built over seven years.
The second phase, Arcadia East, on the other side of Willson Road, would total 295 homes that cannot start being built until 2030, according to proffered conditions that East West submitted for the project.
Architectural styles for the houses would include Arts & Crafts, Classical, Contemporary and European Romantic. (BizSense file)
The development is planned to consist of a mix of houses, townhomes and condominiums, with prices ranging between $200,000 and $500,000. At least 20 of the homes are proffered to be built for lower-income households, through a collaboration with the Maggie Walker Community Land Trust.
Arcadia is the first project in Henrico for East West, which is based in Chesterfield County and developed Brandermill and Woodlake. Its other developments around Richmond include Giles in Hanover County and Patriots Landing in New Kent.
Mark Smith, East West’s senior vice president of development, said the project is slated to break ground this summer.
Mark Smith
“We’re continuing to work on construction plan approval with Henrico County. We’re excited to get started,” Smith said.
The project received pushback from some Varina residents who spoke against it in a hearing that preceded the supervisors’ approval. Speakers described Varina as a rural asset to the region and said they didn’t want it developed like Short Pump or Brandermill, the latter of which was East West’s first development.
Smith said the company is working to make Arcadia a good fit for the area.
“I think that there’s certainly a good portion of the Varina community that’s excited that we’re there,” he said. “There was some opposition, but we’re trying to work with all of the different groups and deliver what we believe to be a wonderful community for the residents of Varina and new people moving into town.”
In addition to the homes, the project is planned to include a central park area and 80-plus acres of open and recreational space with bike and pedestrian connections to the Virginia Capital Trail. Vehicular access to the site is restricted from Route 5 directly and is instead planned from Willson Road.
Smith said Arcadia will help meet demand for more housing options in metro Richmond.
“I think the market in general is doing well,” he said. “Demand for housing, even with high interest rates, has held up very well.”
The project is across Route 5 from the Varina Area Library and a few miles north of Varina Farms, a 2,100-acre former plantation that Henrico recently purchased for over $17 million and plans to preserve as a historical site.
An updated site plan shows access to the development via Willson Road, which bisects the site. Vehicular access is restricted from Route 5. (Image courtesy Thalhimer)
The stage is set for a nearly 800-home development in Varina after a seven-figure land deal recently closed.
East West Partners of Virginia, the corporate entity for local development firm East West Communities, completed its purchase of 261 acres for its Arcadia development at Route 5 and Pocahontas Parkway.
The company paid $4.5 million for the farmland, known as Nelson Farm, according to an announcement from real estate brokerage Thalhimer. The deal closed Feb. 29.
Thalhimer’s David Smith handled sale negotiations for the sellers, listed in property records as members or trustees of the Nelson and Gottwald families.
The transaction was not reflected in Henrico County’s online property records Thursday. It includes 8 more acres than the 253-acre site that Henrico supervisors approved for the project early last year. The additional acreage allows for a second vehicular access required for the project’s second phase.
When the project was proposed in 2022, the parcels that made up the 253-acre site were assessed by the county at just over $1.5 million collectively. A current assessment total for the 261 acres could not be determined without the transaction reflected in land records.
The transaction clears the way for the first phase of Arcadia, called Arcadia West, which would fill land north between the parkway and Willson Road north of Route 5. That area is planned for 500 homes to be built over seven years.
The second phase, Arcadia East, on the other side of Willson Road, would total 295 homes that cannot start being built until 2030, according to proffered conditions that East West submitted for the project.
Architectural styles for the houses would include Arts & Crafts, Classical, Contemporary and European Romantic. (BizSense file)
The development is planned to consist of a mix of houses, townhomes and condominiums, with prices ranging between $200,000 and $500,000. At least 20 of the homes are proffered to be built for lower-income households, through a collaboration with the Maggie Walker Community Land Trust.
Arcadia is the first project in Henrico for East West, which is based in Chesterfield County and developed Brandermill and Woodlake. Its other developments around Richmond include Giles in Hanover County and Patriots Landing in New Kent.
Mark Smith, East West’s senior vice president of development, said the project is slated to break ground this summer.
Mark Smith
“We’re continuing to work on construction plan approval with Henrico County. We’re excited to get started,” Smith said.
The project received pushback from some Varina residents who spoke against it in a hearing that preceded the supervisors’ approval. Speakers described Varina as a rural asset to the region and said they didn’t want it developed like Short Pump or Brandermill, the latter of which was East West’s first development.
Smith said the company is working to make Arcadia a good fit for the area.
“I think that there’s certainly a good portion of the Varina community that’s excited that we’re there,” he said. “There was some opposition, but we’re trying to work with all of the different groups and deliver what we believe to be a wonderful community for the residents of Varina and new people moving into town.”
In addition to the homes, the project is planned to include a central park area and 80-plus acres of open and recreational space with bike and pedestrian connections to the Virginia Capital Trail. Vehicular access to the site is restricted from Route 5 directly and is instead planned from Willson Road.
Smith said Arcadia will help meet demand for more housing options in metro Richmond.
“I think the market in general is doing well,” he said. “Demand for housing, even with high interest rates, has held up very well.”
The project is across Route 5 from the Varina Area Library and a few miles north of Varina Farms, a 2,100-acre former plantation that Henrico recently purchased for over $17 million and plans to preserve as a historical site.
That view of the city on Route 5 driving west is one of the most striking in the region. You are so close to the City yet in a very rural setting. Its like when Dorothy first sees Oz across the poppy fields. Oh well, there go the poppy fields!
A rural region so close to a downtown will not remain rural forever as people seek out cheaper housing. My brother lives east of downtown Tampa and the same thing is happening as his area is more affordable.
I’m personally amazed that it remained as rural as it did for so long. This place still has room for thousands of more homes.
Yes, I agree. I had a friend who owned at least one rental in one of the old rancher neighborhoods there (I know that because he had to stop there for something when we were driving to Richmond- (Friend has since moved to Eugene) and it was just one of the “why is this spot so rural?” moments that many people have scratched their chins about. The fact that the James River is where it is, that rt 5 essentially “goes nowhere” and that it has been so much easier to develop elsewhere meant that for years people could buy… Read more »
Actually, the Oz-like view of the city skyline is from a vantage point on Route 5 that is much further to the west of where this development will be.
Why does 4.5 million sound like a pretty good deal?
Looks like the slogan “Don’t Short Pump Varina” really worked, huh!
If they can avoid running wild with the big box stores and mega parking lots and the stoplights they might still be able to avoid turning it into short pump.
That crap will follow the housing. It always does.
MANY people see certain kinds of Big Box stores as an amenity more than a curse. Every time I have ever looked at living somewhere more rural I have always asked myself where the nearest Big hardware store is and grocery store — and then what kind. I value the fact that the nearest food lion is in walking distance and the nearest HD or Lowes is a ten minute drive. The next thing is WHAT is the grocery store — I’d of course prefer a Wegmans or even at WMT superstore, but there are very few undervalued homes near… Read more »
People often over-estimate the popularity of their opinions. If you own your property, the only thing that would make you stalwart on such a position would be an extreme sentimentality for what has been not exactly an idealic version of rural America. It’s not the Shenandoah and it can be nice when the value of something you own soars.
This is good in that the housing shortage is really out of control in Richmond but I think I would put in some apartment buildings of 100 to 300 units and have them be on 10 acre plots of open space vs everything being all single family houses. The reality is it might look and everyone says it’s rural but everything inside of Interstate 295 belongs to the sprawl.
I am happy to see that for sale units in the $200s are included. That’s about as low as you can get in new construction these days without some kind of subsidies.
I am sure those are condos….
If trends hold curent40% of them will be bought by hedge funds and turned into rentals, and never hit the market as homes owned by residents.
You’d like that. I’m not sure the market for single family homes would like it though.
No one in Varina wants this. No one.
Especially when homes will now go for $400,000 to $500,000, thus driving out the natives.
How will it drive out the natives? The aboriginals of Varina probably already own their homes, right? I am not an anthropologist of Varina, but it’s rural, —- are there trailer parks? Who will be driven out?
Do you live in Varina? You could be correct, but I somehow think that if no one wanted it, it would’ve been harder to get it approved.
Look at those houses — they look NICE! I think I am the first one to point it out — a lot of less expensive developments, the houses look “nice enough” these models aren’t even the “garage forward” ones that have been popular for so long in the Midwest and increasingly popular here.
If I were interested in buying a house these days I’d look at some of the older homes built in the 50-60s in a small already developed area.I believe the construction workmanship and materials were better than todays.
This is untrue. I used to advocate for these neighborhoods, esp in places like Henrico, you know, north-westy of Richmond, when no one wanted them. People were too snobbish to buy there and old people were aging out of the neighborhoods, so the prices were low. I pointed out that silly people were buying Tiny Homes when they could spend a big more money and get a 1500 sq ft house with some legal land underneath. Bonus: many came with garages and THAT could be your Tiny Home Dream if you really wanted it. That day has past — sure,… Read more »
You just made my point that older home construction is superior versus todays.Of coarse you’ll have to upgrade HVAC, plumbing, electricial.Im not trying to sell older homes to older, snobbish people,
I’m not sure how I made your point. I was trying to be as accurate as possible, which would include conceding any ways that home construction in the 50s-60s was better GENERALLY, as well as ways that contemporary construction is better than the 50s-60s. The “snobbish” homes that you characterize actually ARE of superior construction in SOME WAYS than either the 50s or now — they were often over-built for sturdiness, but also drafty fire traps too. Many need major upgrades. The 50s homes are often solid (but many victory homes in areas that were rather poorer are actually pretty… Read more »
https://sdinspect.com/blog/1950-house/#:~:text=The%20heating%20and%20electrical%20systems,to%20be%20a%20health%20hazard.
I should have included design in my comments.Id be damned if I am going to pay 500k for a house with brick veneer front and vinyl siding on the rear.
I agree with the last post that NO ONE WHO LIVES IN VARINA WANTS THIS DEVELPMENT. The builder stating that Varina residents were looking forward to this is a bald face lie. This development will do nothing to make overpriced housing any cheaper. It’s just builders cashing in on an overpriced market. As someone who lives less than a mile from where this will be built, it makes me shudder that it is the builder of Brandermill, who helped to create the overbuilt density & traffic nightmare that is west Hull Street. They’ve built that out, & now they are… Read more »
Interesting! An actual resident. Sorry that this will impact you but I have a few questions…. are you saying this outfit is the ORIGINAL developer of Brandermill? Or some recent developer near the original development? Funny how times change — the original Brandermill was heralded as the Awesome Future — it won awards I think. Meanwhile, the construction and sites there tend to SUCK — all the people who moan about contemporary building need merely go to Brandermill and talk to many of the residents whose homes have not yet had MAJOR renovations what they think of those bldgs —… Read more »
How many times have you heard,” a good fit for the area”?
Well, the schools will likely improve, no?