Riverside Health System partners with JLL to market a large land tract
Riverside Health System has retained JLL to help market a 150-acre tract within the system’s Quarterpath development in Williamsburg.
As part of a 380-acre, master-planned, mixed-use property, Quarterpath is situated at the intersection of Routes 199 and 60 near I-64 and Colonial Williamsburg.
The development is anchored by Riverside Doctors’ Hospital, a Harris Teeter-anchored retail center, a 227-unit luxury apartment complex and a luxury townhouse development by HHHunt Homes.
Infrastructure improvements have been underway to prepare for the parcel’s development, described by city officials as having the potential to be another city town center. Improvements have included work to build Battery Boulevard, add a sanitary sewer and install a new pump station and water lines.
Williamsburg has seen its population grow during the past 10 years, with working professionals and families coming to the area. Recently, Williamsburg also has seen an uptick in the number of business accelerator and startup incubator programs, indicating a growing entrepreneurial culture.
“We are seeing progressive growth here in Williamsburg — young professionals starting businesses and bringing their families to live. Quarterpath provides the ‘evolving’ Williamsburg with another town center that is representative of the vibrancy this community is bringing to us,” Michele Mixner DeWitt, Williamsburg’s economic development director, said in a statement. “The location alone is a selling point, but the city looks forward to partnering with companies who share the same vested interest in helping this community take shape.”
The 150 acres are part of an economic development area zoned for all commercial uses.
Quarterpath’s Master Plan includes hundreds of single-family homes and townhomes, planned expansion to the health care campus and 130 acres of protected green space providing trails, walking paths and a pond.
“We were thrilled to be selected as Riverside’s partner in finding the right developers to build out the initial vision of Quarterpath,” said Tom Dunn, vice president retail brokerage, JLL. “The unique opportunity to create another vibrant town center in Williamsburg, in a city steeped in history, will make this attractive to developers and businesses.”