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7251 N Spring Run Rd
Midlothian, VA 23112
Spring Run · Land For Sale · 13.70 AC

INVESTMENT HIGHLIGHTS

  • Approved Conditional Use Plan Development from Chesterfield County
  • Plans include clubhouse, pool, walking trails, connectivity to local shopping
  • 136 Age-restricted multifamily units

PROPERTY FACTS

Property Type Land
Property Subtype Commercial
Proposed Use
Multifamily
  • Apartment Units - Senior
Total Lot Size 13.70 AC
Zoning R-MF - Multifamily Residential District

DESCRIPTION

This listing is an exciting opportunity to invest in 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 16SN055

PROPERTY TAXES

  • Listing ID: 16106556

  • Date on Market: 5/20/2019

  • Last Updated:

  • Address: 7251 N Spring Run Rd, Midlothian, VA 23112