Left hanging by the collapse and bankruptcy of MGT Construction, a local developer is now suing an insurance company for allegedly not holding up its end of the deal on an apartment rehab in North Carolina.
Residential Real Estate
One of the pioneers in single-family and multifamily development in Henrico County is parting ways with nearly 50 percent of its apartment holdings, consisting of nearly 1,000 units. The buyer is local.
The developer behind some of the Midlothian area’s more established residential communities received an icy reception to its latest proposal in nearby Powhatan County.
The new owners and operators of a 16,000-square-foot Goochland County mansion that’s soon to become the region’s newest event venue have a clear path forward, although a winery they had lined up for the property is no longer part of the deal.
Bullish on Manchester’s multiplying multifamily counts, Mercer Street Partners has made a third investment in the fast-growing South Richmond neighborhood – and its fifth acquisition in Richmond overall.
“I’m not going to say it’s going to happen by the end of the year, because I don’t want to make promises I can’t keep. But we are keenly aware of what we need to do to turn the ship in the right direction,” said the city’s Sharon Ebert.
A tobacco warehouse conversion in the city’s Southside, an apartments rehab in Carver, new townhomes in Manchester and a new Scott’s Addition restaurant were among 11 local preservation and revitalization projects recognized with Golden Hammer Awards at a ceremony last week.
A CCV-area residence that until recently was tied directly to members of a prominent Richmond family wasted little time in lining up a buyer.
The run on new apartment development in the established Henrico office park continues to gain traction.
The ceremonial crane hoisting of a vintage Airstream trailer marked a milestone this week in construction of one of the new additions to the Shockoe Bottom apartment market.