Hank Wilton is at it again.
His firm, Wilton Acquisitions, is planning a new development of 107 townhouses off Wistar Road near its intersection with Walkenhut Drive in Henrico County.
The longtime local developer said his company will prepare the lots in the yet-unnamed development and will then sell them to Ryan Homes for construction.
The two- and three-story townhouses will be an average of 1,800 square feet in size and will top out at $280,000 in price, Wilton said.
Townhouses were a natural choice for the nearly 25-acre property, he said.
“There were townhouses across the street from me. Townhouses beside me. Apartments to the other side of me,” Wilton said. “It seemed to fit in there.”
Wilton Acquisitions is financing the project through Meridian Land Co. Wilton said he’s had the property under contract for a few months and will close on the deal once he has all of the required county approvals in hand.
Henrico County Board of Supervisors recently approved a zoning change to allow townhouse construction on the property. However, final building plan approvals are still pending, Wilton said. A construction date will be selected once the approvals are granted.
A couple of older houses currently sit on the property, and Wilton said he’ll soon be soliciting bids for their demolition.
Townhouses have been hot in Henrico County of late.
HHHunt is preparing to build 82 townhouses at the Townes at Woodman, a development off Woodman Road, near Mountain Road.
Eagle Construction of Virginia has two townhouse developments in progress near Short Pump.
This is one of the first major projects for Wilton’s new company as he gets back to business following a now-concluded bankruptcy and after stepping down as chairman of the Wilton Cos. in late 2012.
He said Wilton Acquisitions has a number of other properties under contract and is looking for more land.
“I’ve been doing this for 25, 30 years. It’s time to get started again,” Wilton said. “The market is finally shaping up. It’s time for me to get back to work.”
View Larger Map
Hank Wilton is at it again.
His firm, Wilton Acquisitions, is planning a new development of 107 townhouses off Wistar Road near its intersection with Walkenhut Drive in Henrico County.
The longtime local developer said his company will prepare the lots in the yet-unnamed development and will then sell them to Ryan Homes for construction.
The two- and three-story townhouses will be an average of 1,800 square feet in size and will top out at $280,000 in price, Wilton said.
Townhouses were a natural choice for the nearly 25-acre property, he said.
“There were townhouses across the street from me. Townhouses beside me. Apartments to the other side of me,” Wilton said. “It seemed to fit in there.”
Wilton Acquisitions is financing the project through Meridian Land Co. Wilton said he’s had the property under contract for a few months and will close on the deal once he has all of the required county approvals in hand.
Henrico County Board of Supervisors recently approved a zoning change to allow townhouse construction on the property. However, final building plan approvals are still pending, Wilton said. A construction date will be selected once the approvals are granted.
A couple of older houses currently sit on the property, and Wilton said he’ll soon be soliciting bids for their demolition.
Townhouses have been hot in Henrico County of late.
HHHunt is preparing to build 82 townhouses at the Townes at Woodman, a development off Woodman Road, near Mountain Road.
Eagle Construction of Virginia has two townhouse developments in progress near Short Pump.
This is one of the first major projects for Wilton’s new company as he gets back to business following a now-concluded bankruptcy and after stepping down as chairman of the Wilton Cos. in late 2012.
He said Wilton Acquisitions has a number of other properties under contract and is looking for more land.
“I’ve been doing this for 25, 30 years. It’s time to get started again,” Wilton said. “The market is finally shaping up. It’s time for me to get back to work.”
View Larger Map