The wooded area sits just off Interstate 295 near Meadowville Technology Park. (Mike Platania photo)
While making a splash last month by acquiring the former Hardee’s restaurant property on Arthur Ashe Boulevard near the Diamond District, Shamin Hotels also closed another deal at the other end of the region on the same day.
The downtown-based hotelier purchased the 15-acre wooded plot at 620 Meadowville Road, across from the River’s Bend neighborhood, for $2.5 million.
Neil Amin (BizSense file)
Familial ties were part of what drew Shamin to the plot, CEO Neil Amin said.
“The backstory is my dad (Shamin co-founder P.C. Amin) lives in River’s Bend and I grew up there,” Amin said. “We know every inch of that area. I think that’s part of the appeal.”
He said Shamin doesn’t have any immediate plans to build on the plot, which is just west of Interstate 295, but that he likes the direction that part of Chesterfield is heading.
“I believe over time, (the site) will want to be developed. We like what’s going on there and we believe in the future of that area,” Amin said.
The property is about a mile from the 1.7 million-square-foot Lego manufacturing facility that began construction in the spring. More major development is coming to the area with projects from pharmaceutical firm Civica and indoor farming company Plenty Unlimited. In addition to living in the area, P.C. Amin also formerly owned the River’s Bend Golf Course at 11700 Hogans Alley. A wedding venue now operates on that property.
The county most recently assessed 620 Meadowville Road at $1.3 million.
The deal closed on June 14, the same day Shamin bought the former Hardee’s near the intersection of Broad Street and Arthur Ashe Boulevard for nearly $5 million. The property gives Shamin a prime spot near the future Diamond District development just to the north.
Amin, who wasn’t available for comment when BizSense first reported the Hardee’s deal, said last week that while it’s too early to give exact details, Shamin does plan to develop the property, which is zoned TOD-1 Transit-Oriented Nodal District and allows for up to 12 stories.
“When you think about Boulevard and Broad, those are pretty much the major arteries of the city,” Amin said. “We want to take advantage of the property’s zoning. That’s really our goal. …We’re looking at different options right now.”
Shamin is also staying busy in Henrico County. Amin said earlier this month that the company opened a Home2 Suites by Hilton at Glenside Drive and Broad Street, and it recently broke ground on a four-story, 111-room Marriott near Richmond International Airport. Shamin’s portfolio of hotels totals 75 properties.
The wooded area sits just off Interstate 295 near Meadowville Technology Park. (Mike Platania photo)
While making a splash last month by acquiring the former Hardee’s restaurant property on Arthur Ashe Boulevard near the Diamond District, Shamin Hotels also closed another deal at the other end of the region on the same day.
The downtown-based hotelier purchased the 15-acre wooded plot at 620 Meadowville Road, across from the River’s Bend neighborhood, for $2.5 million.
Neil Amin (BizSense file)
Familial ties were part of what drew Shamin to the plot, CEO Neil Amin said.
“The backstory is my dad (Shamin co-founder P.C. Amin) lives in River’s Bend and I grew up there,” Amin said. “We know every inch of that area. I think that’s part of the appeal.”
He said Shamin doesn’t have any immediate plans to build on the plot, which is just west of Interstate 295, but that he likes the direction that part of Chesterfield is heading.
“I believe over time, (the site) will want to be developed. We like what’s going on there and we believe in the future of that area,” Amin said.
The property is about a mile from the 1.7 million-square-foot Lego manufacturing facility that began construction in the spring. More major development is coming to the area with projects from pharmaceutical firm Civica and indoor farming company Plenty Unlimited. In addition to living in the area, P.C. Amin also formerly owned the River’s Bend Golf Course at 11700 Hogans Alley. A wedding venue now operates on that property.
The county most recently assessed 620 Meadowville Road at $1.3 million.
The deal closed on June 14, the same day Shamin bought the former Hardee’s near the intersection of Broad Street and Arthur Ashe Boulevard for nearly $5 million. The property gives Shamin a prime spot near the future Diamond District development just to the north.
Amin, who wasn’t available for comment when BizSense first reported the Hardee’s deal, said last week that while it’s too early to give exact details, Shamin does plan to develop the property, which is zoned TOD-1 Transit-Oriented Nodal District and allows for up to 12 stories.
“When you think about Boulevard and Broad, those are pretty much the major arteries of the city,” Amin said. “We want to take advantage of the property’s zoning. That’s really our goal. …We’re looking at different options right now.”
Shamin is also staying busy in Henrico County. Amin said earlier this month that the company opened a Home2 Suites by Hilton at Glenside Drive and Broad Street, and it recently broke ground on a four-story, 111-room Marriott near Richmond International Airport. Shamin’s portfolio of hotels totals 75 properties.
Interesting stuff! Mr. Amin need not “believe” in the future of that area — it is hard to deny it. When Rivers Bend was built, and it is a pretty nice development on a sweet spot, it was a bit speculative, and I know at least the Golf Course had some trouble. But that was long ago — that whole Enon Church area of Chesterfield has been buzzing for some time — years ago big buyers were buying up even blocks of the cheapest Victory Homes; every new thing built seems redolent of the Ironbridge part of Rt. 10, like… Read more »