A bike shop, an aerial dance studio and an ad firm signed leases at the seven-story apartment complex at 101 Manchester Road.
Residential Real Estate
The 1970s-era Gateway Apartments complex was, for a time, one of the first “singles-only” rental communities in the area. It’s now set for a $16 million redevelopment.
“We think this is going to be a continued addition to the demand that we see down in the city,” said company President Richard Kuhn.
“Our plan is to revitalize all of our assets on Broad Street,” said Douglas Asset Manager Cindy King. “It’s time to get this thing going.”
George Emerson and Phil Roper acquired 97 acres off Route 1, where they plan to build 500 apartments, 238 condos, 62 single-family homes and 27 townhomes.
A Markel executive and a CEO of a local investment group were among the parties involved in the top deals, both of which came in above list price.
Chip Tompkins and Trib Sutton will replace a 1950s-era house with seven three-level, 2,100-square-foot townhomes.
The James at 1415 Chamberlayne Ave. is a 10-year-old complex with 270 units, making for a per-door sale price of about $166,000.
Five four-story buildings would house up to 274 apartments on the motel site and a parcel to the south. Thirty-nine townhomes would fill the rest of the site.
“I’ve got too much going on, I don’t need to be put on that blacklist,” said a builder, one of many BizSense sources who asked not to be named in articles.