As it strategies a key mixed-use enhancement throughout the street, Innsbrook’s biggest landlord has unloaded a vacant parcel at the company park’s northern stop in a deal that opens the doorway to hundreds of new flats.
An entity that features Highwoods Properties past month bought the 3.3-acre ton at 10945 Nuckols Highway to an entity tied to Edwards Communities, which is planning a 250,000-square-foot multiuse constructing there with Silver Hills Progress, also out of Ohio.
The assets was acquired for $2.95 million in a deal that shut July 30. The undeveloped parcel, at the southeast corner of Nuckols and Sadler streets, most recently was assessed by Henrico County at $1.07 million. The advertising entity, Nuckols Corner Land LLC, purchased the house in 2008 for $1.2 million in a multi-parcel sale.
The 4- and five-story Silver Hills creating will include things like 234 residences, 5,600 square feet of ground-degree retail place, virtually 5,000 sq. feet of office house and a 370-space parking deck. The condominium rely is lessened from first designs that termed for 252 models.
A advancement program for the project was accredited last fall, and the land sale was contingent on that approval, reported Jane DuFrane, sector guide for Highwoods’ Richmond division.
DuFrane explained web-site work for Silver Hills will start in early September. She said the parking deck would be manufactured initially, with the flats and retail and office environment house designed close to it.
Termed Silver Hills at Innsbrook, the venture is a single of two that Silver Hills Advancement is actively operating on in the location. It is also doing the job with the International Mission Board on a 263-unit condominium elaborate on land beside the group’s headquarters in Richmond.
As with that task, Silver Hills and Edwards are operating with Ohio-based Dimit Architects on the Innsbrook flats. Richmond-dependent Kimley-Horn is managing engineering, and Lights Virginia’s Chesterfield business also is included in the Innsbrook project.
Edwards, which has formulated multifamily attributes in Ohio, Denver and in Louisville, Kentucky, functions with Newport Information-based Drucker + Falk for assets administration. Nathan Shor of S.L. Nusbaum Realty Co. represented Edwards in the transaction.
Makes an attempt to reach Edwards and Silver Hills for remark were unsuccessful.
Strategies display the parking deck would rise 5 stories and complete about 114,000 square toes. The deck would be closer to the adjacent U.S. write-up office environment on Sadler Location, though the residences would fill the relaxation of the internet site experiencing Sadler Road, Nuckols and Highwoods Parkway. Plans also present a website traffic circle would be installed at Sadler Road and Highwoods Parkway.
The programs exhibit the building would differ among 4 and five amounts, with 4 stages of flats over the ground-ground retail room. Flats would have balconies, and the building’s exterior would have different facades.
The programs suggest that 158 of the apartments will be a person-bedroom and studio units, a few would be three-bedroom, and the rest would be two-bed room floorplans. Dimensions would variety from about 570 sq. toes for the studios to just about 1,400 square feet for the a few-bedrooms. Rental ranges are not specified on the options.
The job provides to an inflow of condominium advancement which is getting underway throughout Innsbrook. Previously this yr, Robinson Development Team commenced perform on its Metropolis at Innsbrook enhancement, planned for 700 apartments and 13,000 square feet of commercial and amenity place on a 14-acre web-site concerning Dominion Boulevard and Sadler Highway.
In the meantime, Highwoods is trying to find approval of its strategy for a significant mixed-use development on 34 acres at Nuckols Highway and Interstate 295, catty corner throughout Nuckols from the Silver Hills web page. A rezoning ask for for the task is established to go prior to the Henrico Organizing Commission Thursday following staying deferred previous month.
Also just before the Preparing Commission this thirty day period is Lingerfelt Development’s proposal to insert just about 1,400 apartments and structured parking throughout five office creating homes it owns in Innsbrook. Organizing staff members is recommending deferral to handle problems relevant to combination of makes use of, visual appearance and impacts on public infrastructure and solutions.
Correction: The seller in the offer was Nuckols Corner Land LLC, an entity that includes Highwoods Properties. An before version of this story incorrectly identified Highwoods as the seller.