After neighborhood feedback the developer tweaked the design, which reduced the number of apartments from 260 to 253, and the number of parking spaces from 335 to 330.
250-unit Grove Ave. apartment project gets thumbs up from Planning Commission
Commercial Real Estate
Commission to vote today on proposed repeal of city parking requirements
The change would not remove existing parking or prohibit owners from providing parking on their properties, but rather allow them to determine how much parking is needed based on the market and neighborhood conditions.
Lego holds groundbreaking ceremony for $1B Chesterfield factory
On display at the event was a scale model of the 1.7 million-square-foot Chesterfield factory made out of about 34,000 Lego bricks.
Pickleball venue coming to former Macy’s space at Regency mall
Performance Pickleball RVA will feature 18 courts, with a mixture of indoor and outdoor, as well as a pro shop, bar and restaurant. The investors behind the project say they believe the venue will be the largest of its kind in Virginia.
$5M land deal sets stage for spec warehouse in Chesterfield
Behind the project is Crescent Communities subsidiary Axial Industrial, which also is pursuing a pair of warehouses near the Project Rocky site in Goochland.
‘Undeniably the biggest challenge’: Richmond developers reckon with rising interest rates
The spike in loan rates that began in 2022 has prompted some real estate developers to rethink their math, leading some to delay construction on previously announced projects in the Richmond region or, in some cases, to put project sites back up for sale.
Bellevue apartments next to Samis Grotto Temple sell for $4M
The 36-unit complex is adjacent to the former Samis Grotto Temple at 4028 MacArthur Ave., which is slated for a mixed-use renovation after selling to a pair of local developers in January.
Site work starts for 310 apartments beside Midlothian Walmart
The 310-unit project is the first in the Richmond market for Bainbridge Cos., a 26-year-old company that has developed thousands of apartments in Florida and up the East Coast.
Outspoken investor ups the ante with billboard campaign against local REIT
Billboard ads are now running along I-195, alerting passersby of the lagging stock price of Medalist Diversified REIT. Aggressive shareholder Jon Wheeler is behind the campaign.
N.C. buyer drops $8M for 2-acre Manchester site and an acre near The Diamond
Raleigh-based PRMS Investments has made a splashy entrance into the Richmond market, buying land in two of the city’s hottest areas.