$6M land deal tees up 100 condos at Broad and Gayton

west village rendering

A rendering of the development at Broad Street and Gayton Road in Short Pump. (BizSense file)

The residential portion of a new development in Short Pump is getting lined up following a multimillion-dollar land deal.

Stanley Martin Homes recently purchased 4.3 acres at West Village, a 12-acre, $50 million development at the northwest corner of Broad Street and Gayton Road, where it’s approved to build 100 two-over-two condos across nine buildings.

The Reston-based builder paid $5.8 million for the parcel alongside Old Three Chopt Road, Henrico property records show.

The seller was SKM LLC, an entity tied to Rebkee Co., which is developing West Village. SKM had purchased the parcel in 2020 for $5.85 million.

Dan Hargett

Dan Hargett

The county assessed the land this year at $3.6 million.

Dan Hargett, who until recently was a principal with Rebkee before launching a new firm, Roka Partners, said Stanley Martin had been selected for the project based on its track record of condos along that stretch of Broad Street.

“We’ve got a great relationship with Stanley Martin and they were the right partner for the project, given their success along Broad Street,” Hargett said.

Farther west, Stanley Martin built Saunders Station at Broad Hill Centre, consisting of 166 two-over-twos across 13 buildings. And across Broad from Saunders Station, it’s currently building Gateway Square, a 23-acre site approved for 32 townhomes and 162 of the two-level condos stacked as four-story buildings.

StanleyMartinBroadGayton1

A rendering of the two-over-two condos, in which a two-level unit is stacked atop another. (Henrico documents)

Sizes and price points for the West Village condos have not been released. Jeremy Swink, Stanley Martin’s vice president of land for the region, could not be reached for comment.

At Gateway Square, condo prices start around $420,000, according to Stanley Martin’s website.

Stanley Martin’s other projects in Henrico include West Broad Landing and Wistar Glen, two developments off Broad Street totaling more than 300 condos; ReTreat at One, a 600-home development off Brook Road; Lakeside Landing, a 126-home development farther south on Brook Road; Brook Run shopping center on Brook Road; and 75 townhomes at Virginia Center Commons, the former mall being redeveloped by Rebkee and Shamin Hotels.

StanleyMartinBroadGayton2

A site plan shows the 100 condos divvied up in nine buildings.

The commercial portion of West Village, which Hargett said is being called the Shops at Gayton and Broad, is planned to total 50,000 square feet and so far includes an 8,500-square-foot building for Fink’s Jewelers, which has opened its store there. The development has also landed steakhouse chain Fleming’s as an upcoming tenant.

Hargett said discussions continue with other potential retailers that could fill out the commercial section.

“We’re in conversations with a number of other retailers for the remainder of the project. Nothing nailed down yet,” he said.

While Hargett has shifted away from Rebkee, his brother Rob remains a principal at the firm, and Hargett said they maintain ownership on several assets they share. Before launching Roka Partners in May, Hargett acquired the circular office building at 3540 Floyd Ave. in Carytown for $1.2 million.

POSTED IN Commercial Real Estate

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Michael Boyer
Michael Boyer
1 minute ago

Really,more condos in short pump.Who cares?