Church Hill Lot has Potential for 200 New Apartments
Richmond Times Dispatch
More than 200 apartments could rise on the back side of Church Hill if an undeveloped property that’s for sale changes hands.
A 4.76-acre lot at 401 N. 35th St., in the Chimborazo neighborhood of Church Hill, is listed for $3.11 million. The property, bounded by East Marshall Street, North 35th Street and Glenwood Avenue, is zoned for multifamily residential development and could take up to 207 units.
The property went on the market in July. It contains two parcels that are assessed by the city at a combined $670,000.
Tim Dudley, a Motleys vice president who’s handling the sale, said he had fielded more than 50 inquiries from local multifamily developers and out-of-state buyers .
“We’re probably pretty close to getting an offer in the next week or two,” Dudley said Tuesday.
If an offer is made, it could mark the second undeveloped parcel in the vicinity set for new apartments.