Land deal clears way for 201-unit apartment complex in Chester
Construction is set to start on a $20 million development that will add hundreds of new apartments in the heart of Chester.
A group led by current and former executives of homebuilder Schell Brothers is preparing to start site work for The Station at Chester Village, a 201-unit apartment building set to rise on about 4.5 acres at 11910 and 11912 Chester Road, behind the Allen Tire and retail strip at Route 10 and the railroad tracks.
Chesterfield supervisors approved the project in late 2019. Plans call for a cluster of five apartment buildings that will house 65 one-bedroom units, 126 two-bedrooms and 10 three-bedrooms. Floorplans will range from 650 to 1,300 square feet in size. Burnette said rents have not been set for the apartments, which he said would be market-rate.
The four- and five-story buildings will be constructed with brick or stone and Hardiplank facades. The complex will include a 4,000-square-foot clubhouse, and amenities include a pool with cabanas, an outdoor fireplace and grilling stations. Walking paths are to be added along Chester Road, where additional turn lanes will be constructed to provide site access.
Burnette put the development cost at just under $20 million. Virginia Housing is providing financing for the project, and Costa Canavos with Berkadia handled mortgage lending.
Breeden Construction is building the apartments, which were designed by Poole & Poole Architecture. Balzer & Associates handled engineering work.
Burnette said the complex will add a rental product unlike what’s available in the Chester area now. While apartments can be found in Chester Village and in the vicinity, he said the closest comparable apartments are some distance away.
To read the full article, click here.
Nationally recognized, with over 60 years of expertise in every facet of the industry, The Breeden Company is a vertically integrated real estate development organization that boasts market-leading divisions including commercial real estate, multifamily property management and construction. With a portfolio of over 20,000 apartments and 2 million square feet of retail and office space that have been owned, managed and developed, The Breeden Company is one of the premier real estate development firms in the nation. Breeden Realty is one of the top commercial real estate firms in Virginia (Virginia Business, 2021); Breeden Property Management is one of the top multifamily property management firms in the country (Multi-Housing News, 2021); Breeden Construction, the much-acclaimed multifamily general contractor for numerous third-party clients, is one of the top multifamily builders in the country (Multi-Housing News, 2020).