Seven of the homes would be market-rate and front M Street on the property’s north side, while the two remaining homes would front 26th Street and would be sold as lower-income units.
Six wooded acres beside Maybeury Elementary School and the Tuckahoe Family YMCA are under contract to Build Senior Living.
The deal for 75 apartments at 2001 E. Broad St. is at least the seventh in the Richmond area for Mercer Street Partners since the firm entered the market in 2017.
The five priciest, which also included homes in Henrico, Hampton Gardens and Windsor Farms, ranged from $1.6 million to $1.9 million.
The proposed 122-acre mixed-use development near Chester would feature commercial and retail space, residential units, a hotel and other uses.
The group, led by Baltimore-based Weller Development Co. and New York-based LMXD, is one of six on a list that could be whittled down by the city as soon as next week.
The intersection of Fifth and Broad streets, fed by traffic from Interstates 95 and 64, is many visitors’ first impression and only experience here.
The two-story addition to the Canal Crossing complex along 15th Street between Cary and Dock streets will include 44 studio units.
Sam McDonald and Mark Scordo had originally planned a 12-story, 188-unit tower at 512 Hull St. but got financing for five stories and 65 units due to COVID.
A New York firm is poised to acquire 301 W. 6th St., which includes an approved plan of development and other entitlements for two 11-story buildings connected by a skybridge.
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