The firm plans to break ground in mid-2025 on a 12-story Hilton with more than 270 rooms that will be built as part of the redevelopment of the former Spring Rock Green shopping center.
The 6-acre site sold for $3 million per acre and is planned for a 388-unit, 7-story apartment building next to the cinema complex.
The century-old house, originally built blocks away in the late 1700s, was purchased by a local developer two years ago and has been deemed by the city as unsafe.
“The office market is not ready for new construction, so we’re thinking about ways we can repurpose that land to make sure the Innsbrook community has another amenity,” said Highwoods’s Jane DuFrane.
The site is about half the size of the publicly traded company’s 142-acre campus in Northern Virginia, where five data centers are operational and four more are planned.
“I think getting the buildings demoed will be a real plus for the community,” said local developer Steve Leibovic, adding that demolition is expected to be completed by year’s end.
Currently under construction, the 4,700-square-foot deck will provide outdoor space that was originally planned for The Park, which co-owner Basim Mansour had first envisioned as a rooftop venue.
The 230-unit complex sits about a mile south of Willow Oaks in the city’s Southside. The new owner is Highwater Properties, a Los Angeles-based investment firm with 620 units in its portfolio.
The 1-acre parcel is in a prime location across from Scott’s Addition and sits next door to another of Thalhimer Realty Partners’ buildings.
Florida-based Bainbridge Cos. is over halfway through construction of Bainbridge Midlothian, a 310-unit development filling part of a 26-acre tract between Walmart Way and Old Buckingham Road.
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