Antar and Nael Abouzaki own buildings elsewhere downtown and in the Fan, including a Grace Street property slated for a new development and an old bank building on Main Street.
Until recently, Forest Hill Avenue lacked anything resembling distinctive architecture.
The 248-unit complex was built two years ago for around $40 million and just sold for $290,000 per door.
The 5,300-square-foot house on a 0.7-acre lot was put under contract in an all-cash deal for $2.3 million that closed a month later.
“It’s an opportunity for us, we think, to bring 130 home ownership opportunities to East Richmond,” said Bram Levy of John B. Levy & Co.
Led by RRHA and nonprofit developer The Community Builders, the project began this summer when a portion of the public housing complex’s 504 units were razed.
“We are a team of Richmonders and we remain deeply committed to the success of our city,” said Casey Tischer of Vision300.
Chris Harrison has denied claims of fraud and money laundering and countersued two of the project’s investors, all while working to finalize a deal with the City of Petersburg to sell back the controversial old Ramada Inn property.
A mystery developer is under contract to buy the 1-acre site for a development that will utilize the area’s TOD-1 zoning.
A dozen acres of undeveloped land left over from Henrico’s realignment of a major intersection was declared surplus and sold to a developer for $525,000.
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