Middleburg Communities will soon break ground on The Brook, a 310-unit apartment and townhome development in Glen Allen, Va. Construction will begin this month, with the delivery expected in late 2024.
In March, Middleburg purchased the 13.5-acre site for $4.4 million, according to public records. The Resmark Cos. serves as investment partner for the project, while financing was provided by Truist Bank.
READ ALSO: An Insider’s Perspective on Multifamily Development in the Mid-Atlantic
The apartment section of the development will comprise five buildings totaling 274 units, with one-, two- and three-bedroom floorplans, while the townhomes portion will consist of six buildings designed to have two- and three-bedroom units. The Brook will feature a fitness center, a swimming pool, a clubhouse, a yoga studio, a dog park and pet spa, elevator service, grilling stations, electric vehicle charging stations and parking.
The site is located at 9002 Brook Road, in Richmond’s Glen Allen submarket. The site is situated near the junction of interstate 95 and 295, which provide easy access across greater Richmond. The community will rise in an area with numerous retail centers, dining options and entertainments venues. Hanover County Municipal Airport and Lewis Ginter Botanical Garden are within 6 miles.
Middleburg has also recently acquired two land parcels for the development of a 338-unit multifamily project and a 260-unit build-to-rent project in the Tampa area. The company paid $14.7 million for the parcels totaling 49 acres.
