7251 N Spring Run Rd Midlothian, VA 23112

$3,350,000
Price

Development Site, Multi-Family
Property Type

136 
Units

13.7 AC
Parcel

Under Contract Listing

About This Property

One South Commercial is pleased to be the exclusive listing agent for the 13.7 acre age-restricted multi-family development site at 7251 N. Spring Run Road in Chesterfield County, VA. There is a significant need for new active living age-restricted communities in this densely populated stretch of the Hull Street Road corridor. The Spring Run Development is poised to capture a pool of end users as Chesterfield County has the region’s largest inventory of aging single family homes – which have an average age of more than 30 years – and an ever-growing baby boomer population increasingly intrigued by maintenance-free active living. The Development’s location is excellent for this demographic as there are countless shopping, dining and entertainment options within a 5-minute drive.

The site has been rezoned to Multifamily Residential (R-MF) with an approved conditional use planned development (CUPD) permitting additional density at 9.9 dwelling units per acre. The approved plan consists of a 4-story 100-unit Class A apartment building, 36 cottage-style single-story condominium units. Amenities include a clubhouse, pool, walking trails, and connectivity to local shopping.

The project will connect with the adjacent shopping center, promoting a walkable, mixed-use experience for the residents. Cash proffers have been reduced from $11,152 to $2,914 per dwelling unit pursuant to zoning case number 18SN0669. Additional proffered conditions are set forth in zoning case 16SN0554. Both zoning cases are attached as addenda hereto.

Additional Information

20
Walkability

0
Transit

Units136
Parcel ID725670986800000
Zoning Desc.R-MF CUPD
Co-broker FeeYes

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