Property Summary
The two-acre site at 807 Oliver Hill Way offers a developer the ability to build 500+ apartments with a stunning view of the downtown Richmond skyline. Located in the historic Shockoe Bottom neighborhood, the apartments will be in walking distance to the Virginia Commonwealth University Medical Center with thousands of employees and medical students. The Virginia State Capitol, the Central Business District and the City of Richmond’s Government Center are also within walking distance. There are 80,000 employees working in the area. Numerous entertainment, dining and cultural attractions are blocks away.
The site is zoned TOD-1 (Transit Oriented Development), which the City of Richmond has adapted to spur density in the development of the few remaining infill parcels in the downtown area. The parking requirements are relaxed somewhat and it also allows for taller buildings. There are also numerous public transit options in the immediate neighborhood. The City of Richmond has funded $28M in public improvements to the streets immediately surrounding the site to encourage development, improve access and further beautify the neighborhood. A 20,000 square foot warehouse with two stable tenants will provide income for the owner developer while the plans are developed.
The developer who buys this property will have every box checked- favorable zoning, great location, stunning views, public transit, easy access to all major highways, amenity rich neighborhoods, and proximity to major employers.
PROPERTY FEATURES
- TOD-1 zoning
- Prime development land with existing income
- 2+ AC in opportunity zone
- Architectural proforma plans available upon request
- Contact agent for pricing
PROPERTY DETAILS
| Units | 1 + Lot |
|---|---|
| Parcel ID | E0000318002 & E0000318004 |
| Const. Materials | Metal |
| Zoning Desc. | TOD-1 |
| Construction Date | 1970 |
| Co-broker Fee | Yes |