The Richmond-based missionary group is seeking a permit for two five-story buildings that would fill a surface parking lot and replace an office building.
Residential Real Estate
Capital Square’s sale of the Maple Springs Apartments was its latest involving the tax-deferrable investment property swaps, which would be cut under the proposed American Families Act.
The local developer wants to build a mixed-use development with 145 apartments on the half-acre site, some of which could be designated as short-term rental units.
The month was the first this year without a residential real estate deal at or above $2 million, and was led by a local couple’s $1.76 million transaction.
“We like the idea of doing condos there because there’s no supply and we keep anecdotally hearing about a lot of demand,” said a principal at the firm.
Site work is underway for the $34 million, 224-unit complex to be fitted between the Brook Road post office and adjacent Spectrum apartments.
The $7 million purchase of the former Oasis Sports Park just east of Cosby High School sets the stage for Main Street Homes to expand its development.
The developer had previously proposed 225 apartments but is now planning 81 townhomes at John Rolfe’s intersection with Pump and Church roads.
A former city administrator is representing the applicant in a rezoning request for 711 Dawn St., where two existing industrial buildings would be demolished.
The land-use roadmap will guide redevelopment of aging retail centers at the corner of Hull Street and Courthouse roads toward a mixed-use future.