The 21-acre donation includes the former Tuckahoe Village Recreation Association property and adds to 240 acres along the creek that Wilton has donated to the county since the early 1980s.
Listed in 2023 as a 4,000-square-foot plan, the house ended up nearly double that size due to options and changes requested by the buyers over the course of construction, agent Beth Lane said.
The initial phase will start beside the new CarMax Park and include residential buildings, a 180-room hotel and an office building that is planned to rise five floors or higher.
Called The Crossings at Mulberry, the 16-acre development by StyleCraft Homes will total 160 townhomes, with 25 of those priced for lower-income buyers through Henrico’s housing trust fund.
Officials are considering expanding the project area beyond a 9-acre assemblage that includes the Richmond Coliseum to include more city-owned properties.
Liquidity in secondary markets is always an area of concern for many institutional investors. That is no longer the case for the industrial sector in Richmond,” Lingerfelt President Brian Witthoefft said.
The transaction with Altria subsidiary Philip Morris closed three months later than originally scheduled, and the same week that VCU received approval from Gov. Youngkin to buy Altria’s downtown research building.
“I’m quite confident it will be in litigation very shortly,” said Bill Leighty, recently dismissed from the VCU Wilder School, of the dispute between VCU Health and Richmond over the payments stemming from a failed development project.
Mayor Danny Avula presented his administration’s $3 billion spending plan, which would maintain the current real estate tax rate and increase general fund spending by 5.5% over the current budget.
After finding the project’s original developer in default, Henrico “is eager to attract a new partner or partners that are proven, competent and capitalized to deliver on what’s clearly a once-in-a-lifetime development opportunity.”
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