A joint venture of Cantor Fitzgerald, Silverstein Properties, Collins Capital Partners and Kaufman Jacobs has secured $53.6 million in construction financing for The James at Springline, a mixed-use development set to include 298 units and 28,000 square feet of retail in Chesterfield County, Va. Truist Bank provided the loan.
Developers broke ground on Sept. 28. on what is part of the first phase of a larger master-planned development, dubbed Springline at District 60.
Slated for completion in 2025, The James at Springline amenities are expected to include a lobby, conference area, interior courtyard, pool, roof deck and fitness center. Apart from The James at Springline, the first phase is set to include a 150,000-square-foot office building, a sports tournament and entertainment venue, a market and a parking facility.
Springline at District 60 comprises a former shopping center that will be redeveloped into a 42-acre, mixed-use property, at the intersection of Route 60 and Chippenham Parkway. The demolition of the previous shopping center began in March 2023. The site is planned to offer green spaces, walking and biking trails and structured parking.
An anchor for Chesterfield County
The development is 10 miles southwest of Richmond, Va., and some two miles southeast of Johnston-Wills hospital. Several dining, retail and entertainment options are available within a 1-mile radius.
The Chesterfield County Economic Development Authority acquired the former shopping center in order to create a walkable area that would serve as the anchor of Chesterfield County. Architect Cooper Carry joined the EDA and Collins for the creation of the overall master plan.
In May, Cantor Fitzgerald and Silverstein Properties have closed on a $233 million construction loan for the development of the first phase of South Pier at Tempe Town Lake, a large mixed-use master-planned development in Tempe, Ariz.
