Innsbrook-based Capital Square 1031, which paid $8 million for the property five years ago, was the seller.
Residential Real Estate
The housing market is seeing sales activity at levels not reached in years, according to the Central Virginia Regional Multiple Listing Service.
In response to a suit by Tuckahoe Funding alleging fraud and embezzlement, Josh Romano blames the dispute on their mutual real estate attorney.
“Our long term strategy of being patient owners in a fast-growing neighborhood has gotten microwaved,” said Bonaventure Realty CEO Dwight Dunton III.
Stanley Martin Homes purchased a 23-acre site at 12401 W. Broad St., where it’s approved to build 194 for-sale condos and townhomes.
Richmond’s Commission of Architectural Review recently endorsed a plan to renovate an existing building with a modern-style addition to create nine apartments and two commercial spaces.
The project is filling the area around Dove Street that was formerly the Dove Court public housing community and a pair of blighted apartment complexes.
“I don’t know how many city officials really appreciate the time value of money,” Center Creek Homes CEO Dan Magder said of costs the company incurred going through Richmond’s permitting process.
A Richmond developer bought 5 acres for $2.7 million and is planning a project with townhomes, a hotel, office and retail space.
Moneymaker Properties has started work on the last homes planned for Creek’s Edge at Stony Point, a gated townhome development started in the late 2000s by Steve Middleton.