US-based investment firm Middleburg Communities has plans to construct a build-to-rent community on an approximately 30-acre land parcel in Midlothian, Virginia, US.
The company announced that it closed on the land parcel located at 15200 East-West Road in Midlothian, a suburb of Richmond.
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The neighbourhood-style community will feature 283 housing units ranging in size from 788ft² to 1,800ft².
Named Hamlet Watkins Centre, the project will consist of 111 cottages, 12 duplexes, and 37 townhomes with a combination of surface, detached garage, and attached garage parking facilities.
The Hamlet Watkins Centre will provide a range of one, two, and three-bedroom floorplans to cater to the demands of single professionals and families looking for private, community living close to Richmond’s major job hubs and Chesterfield County’s top schools.
Among the amenities to be offered by Hamlet Watkins Center include stainless steel energy star appliances, laundry rooms and large walk-in closets, quartz countertops and tile backsplashes, a resort-style pool, a pet park, community parks and green areas, and electric vehicle (EV) charging stations.
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By GlobalDataConstruction is anticipated to commence in mid-2023, with units expected to come online in 2025.
Middleburg Development president Selim Tay-Agbozo said: “We are thrilled to debut our dedicated build-to-rent, single-family community brand in our home state of Virginia.
“Richmond has seen a steady influx of both job and population growth in recent years, with a large number of families moving to Midlothian specifically to be near its best-in-state schools. We expect Hamlet Watkins Centre to appeal to these families as well as the many individuals in the area who want to live in a neighbourhood setting that offers best-in-class amenities and minimal maintenance.”
The Hamlet Watkins Centre is part of the bigger Watkins Centre project, which comprises 169,000ft² of current Class A office space and another 100,000ft² office space scheduled for construction. This centre is close to Westchester Commons, a 128-acre mixed-use development with more than 650,000ft² of existing retail.
EagleBank provided financing for the Hamlet Watkins Centre.
