Vacant Suffolk block to be restored
Sensei Development and The Monument Cos. are partnering to turn a vacant block in Suffolk into 68 loft apartments and 5,600 square feet of commercial space.
The project, according to Inside Business, will restore and renovate eight buildings in the 100 block of W. Washington St. The project is expected to cost $8.8 million. http://insidebiz.com/news/88m-redevelopment-remake-suffolk-block
The properties were previously owned by George Hranowskyj and Eric Menden, who were sent to prison for fraud that helped cause the fall of the Bank of the Commonwealth.
The project has received a $6.7 million loan from First Citizens Bank but needs a conditional use permit from Suffolk and approval from the National Park Service and the Virginia Department of Historic Resources, according to Inside Business.