Richmond property sells for $2.75M

Lot in Libby Hill will be developed into apartments.

Published December 30, 2019 by Sydney Lake

Richmond-area developers Louis Salomonsky and David White of SWA Construction Inc. sold a 0.75-acre property across from the Lucky Strike Building in the city’s Libby Hill area for $2.75 million, Commonwealth Commercial Partners LLC (CCP) announced Monday.

The site is part of a three-parcel purchase of vacant land along East Main and Pear streets. Bruce Milam, senior vice president of CCP, represented the buyer, Shiplock 2 LLC, in the transaction that closed on Dec. 20. Shiplock 2 is led by developer Guy Blundon of Richmond-based CMB Development. He plans to build 180 apartment units on the site.

CMB Development also plans to acquire the 51-unit Shiplock Watch Apartments in January. The building elevations will be five stories along East Main Street and nine stories along Pear Street.

Walter Parks is the architect, Claire Shirley of Gradient PC is the civil engineer and Purcell Construction is the General Contractor. Construction has begun on the parking lot in the latter parcel, according to CCP.

In December 2018, Salomonsky and White bought a Quality Inn that sat on a 3.5-acre property at 3200 West Broad Street in Scott’s Addition for $8 million with the intention of building more than 300 market-rate apartments, 30,000 square feet of ground level of commercial space and a parking deck in a 12-story tower. Demolition of that property began in September 2019.