2013 is starting out as a busy year for The Breeden Co. in Virginia Beach. It broke ground yesterday on a $70 million, 420-unit apartment project in Henrico County and closed on a land deal last month in Chesapeake for a 336-unit complex.
Marshall Springs at Gayton West in the Short Pump area of Henrico is located on 30 acres on the north side of Interstate 64 from Short Pump Town Center. The site is near Gayton Road, which recently saw the opening of the North Gayton Road Extension, including a bridge over I-64. The 2.1-mile extension, which runs west of Short Pump Town Center at West Broad Street and connects to Pouncey Tract Road, is expected to spark more development in the western part of Henrico.
The target delivery date for the first units at Marshall Springs is January 2014, with expected completion of all units by spring 2015, Barry Tomlin, Breeden’s vice president for property management and marketing, told Virginia Business.
In Chesapeake, the company closed on a land deal on Dec. 7, paying $6.5 million for 16 acres in the Edinburgh neighborhood near the Chesapeake Expressway. Breeden said construction will begin in March on a $59 million community of 336, one- two- and three-bedroom apartment units.
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