Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Advertisement

Header Primary Menu

  • Issues
    • June 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Home News Industries Real Estate ‘Novel’ project will add 275 apartments to Scott’s Addition

‘Novel’ project will add 275 apartments to Scott’s Addition

Thalhimer Realty Partners contributed land for Richmond development

Published May 19, 2022 by Robyn Sidersky

Courtesy rendering

Crescent Communities, ParkProperty Capital and Thalhimer Realty Partners are developing a 275-unit apartment community in a joint venture on the border of Richmond’s fast-growing Scott’s Addition neighborhood and the city’s planned Diamond District.

Dubbed “Novel Scott’s Addition,” the community will be located at the former Wesco Distribution Site at 2902 North Arthur Ashe Blvd. The units will be studios, one-  and two-bedroom apartments and the top floor will have lofts. Most of the property will be five floors, with one wing rising to seven floors. The community will have a pool and pool deck, dining and gathering spaces including a fireside lounge, library, coworking rooms, dog park, spa, garden dining room, sky deck and resident speakeasy.

Construction will start this month and be completed by early 2024.

The apartment community site is located about 2.5 miles from downtown Richmond and across the street from the  Diamond District, which the city government is in the process of selecting a company to redevelop into the new Diamond District. Thalhimer Realty Partners is part of Diamond Partners, one of the three teams of finalists competing for the redevelopment project.

Charlotte, North Carolina-based Crescent Communities will develop the project in partnership with Atlanta-based ParkProperty Capital, marking the latter company’s entry into the Richmond market. TRP N Blvd LLC, an entity controlled by Glen Allen-based Thalhimer Realty Partners, contributed the 3.17 acres of land to the joint venture, in a $6.7 million transaction. Other partners on the project include architecture firm KTGY; civil engineering firm Kimley-Horn and Associates Inc.; landscape architect LandDesign; general contractor Clancy & Theys; and CID Design Group for interior design.

“We are excited to invest with such a high-quality developer in Crescent Communities and grow our footprint in the mid-Atlantic,” ParkProperty Capital Managing Director Brendan Whalen said in a statement. “This will be our first investment in Richmond and Scott’s Addition, and we see a lot of opportunity in this historic and quickly revitalizing neighborhood. As the first investment in our second discretionary fund, which invests in similar development opportunities throughout the major markets in the Sun Belt region, this is an important milestone for ParkProperty Capital on multiple fronts.”

 

  Subscribe to Virginia Business. Get our daily e-newsletter.

Related Stories

Virginia Business logo

$32.4M apartment complex coming to Scott’s Addition

The 350-unit development will also have 15,000 square feet of retail space.

1601 Roseneath Rd. rendering courtesy Capital Square

350-unit apartment complex coming to Richmond’s Scott’s Addition

Capital Square, Greystar to develop property, plus retail space

Richmond seeks developers for Diamond District

City issued request for interest in December 2021

Trending

Sentara taps new president and CEO

Corsicana Mattress Co. closing Chesterfield plant in Aug.

Va. Tech receives $1M gift for learning accelerator

Amtrak to boost service in Norfolk, Roanoke, Newport News

Barkin: Inflation high, but Fed has tools to contain it

Sponsored Stories

What can Supply Chain Consultants do for me?

The Lowdown on Downloads for Your Online Experience

5 Benefits of Treasury Management Services from Atlantic Union Bank

Creating An Urban Destination in Chesapeake

Advertisement

Advertisement

Trending

Sentara taps new president and CEO

Corsicana Mattress Co. closing Chesterfield plant in Aug.

Va. Tech receives $1M gift for learning accelerator

Amtrak to boost service in Norfolk, Roanoke, Newport News

Barkin: Inflation high, but Fed has tools to contain it

Sponsored Stories

What can Supply Chain Consultants do for me?

The Lowdown on Downloads for Your Online Experience

5 Benefits of Treasury Management Services from Atlantic Union Bank

Creating An Urban Destination in Chesapeake

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2022 Virginia Business. All rights reserved.

Site Maintained by TechArk

wpDiscuz