Middleburg Communities to Commence Construction on 260-Unit Build-to-Rent Community in Richmond MSA

×

Error message

  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

Middleburg Communities (“Middleburg”) today announced it has secured financing from Simmons Bank to begin construction of Hamlet Falling Creek, a 260-unit build-to-rent community to be developed along Genito Road in Midlothian, Virginia about 20 minutes southwest of Downtown Richmond.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, February 5, 2024
Information
Tags: 
Residential Building & Real Estate, Banking, Commercial Building & Real Estate, Urban Planning, Construction & Property, Professional Services, Landscape, Interior Design, Building Systems, Architecture, Finance, Population growth, MSA, Hamlet, Virginia State Route 76, Energy Star, Part, EV, Quality of life, Sale, Simmons Bank, Development, River
Geotags: 
UNITED STATES, NORTH AMERICA, VIRGINIA, LAKE, GENITO, MIDDLEBURG
Organisation: 
MIDDLEBURG COMMUNITIES
Summary
Key Points: 
  • Middleburg Communities (“Middleburg”) today announced it has secured financing from Simmons Bank to begin construction of Hamlet Falling Creek, a 260-unit build-to-rent community to be developed along Genito Road in Midlothian, Virginia about 20 minutes southwest of Downtown Richmond.
  • The project marks Middleburg’s second build-to-rent community in Midlothian, joining Hamlet Watkins Centre, which is currently under construction.
  • Selim Tay-Agbozo, President of Middleburg Development, stated, “The Richmond MSA possesses many of the fundamentals that drive our investment decisions.
  • Middleburg currently has six built-to-rent communities under construction in Richmond, Charlotte, Charleston, Jacksonville, Huntsville, and Wilmington.


Middleburg Communities (“Middleburg”) today announced it has secured financing from Simmons Bank to begin construction of Hamlet Falling Creek, a 260-unit build-to-rent community to be developed along Genito Road in Midlothian, Virginia about 20 minutes southwest of Downtown Richmond. The project marks Middleburg’s second build-to-rent community in Midlothian, joining Hamlet Watkins Centre, which is currently under construction.

“We are excited to develop Hamlet Falling Creek, which, together with Hamlet Watkins Centre, will set the standard for what build-to-rent living in Richmond is all about,” said Robin Bettarel, Managing Director of Development for Middleburg’s Mid-Atlantic Region. “This type of community is highly appealing to all types of lifestyles – families, individuals, empty nesters – as it provides the opportunity to reside in a high-quality, meticulously maintained neighborhood without the burden of property upkeep or maintenance.”

Part of an approximately 100-acre master plan including for-sale homes and townhomes, retail, and preserved wetlands, Hamlet Falling Creek will offer one-, two- and three-bedroom cottages, duplexes and townhomes for rent. Like Hamlet Watkins Centre, the community will provide a truly differentiated living experience, with luxury finishes in every home, a best-in-class amenity package and a pedestrian-friendly neighborhood design. Situated between Route-288, Powhite Parkway, and Hull Street Road, the property’s location offers easy access to Downtown Richmond and 530,000 jobs within a 30-minute drive. The site is located in the highly-rated Chesterfield County school district and is part of the Genito Road/288 Corridor improvement plan, which includes landmark projects such as the recent expansion of the RiverCity sportsplex and The Lake, a massive surf-park anchored development currently under construction.

Selim Tay-Agbozo, President of Middleburg Development, stated, “The Richmond MSA possesses many of the fundamentals that drive our investment decisions. It continues to benefit from strong population growth as a result of its robust business climate, top-tier school and health systems, and desirable quality of life. On top of that, the availability of single-family homes available for purchase or rent in the area is at historic lows, and we look forward to helping fill that gap with the development of these two communities.”

Hamlet Falling Creek will offer renters a new rental experience blending the amenities and professional management of a Class-A apartment community with the welcoming feel of a neighborhood. All residences will feature stainless steel Energy Star appliances, quartz countertops, luxury vinyl plank flooring, 9’ ceilings, private patios with yard space, and more. Shared amenities include a resort-style pool, fitness center, dog park, several pocket parks and shared green spaces, co-working booths, EV charging stations and extensive pedestrian walkways.

Middleburg expects the first units at Hamlet Falling Creek to be completed in late-2025. Middleburg currently has six built-to-rent communities under construction in Richmond, Charlotte, Charleston, Jacksonville, Huntsville, and Wilmington.

About Middleburg Communities

Middleburg is a leading investment firm maximizing value through a fully integrated approach to the acquisition, development, construction and operations of high-quality attainable rental housing. Since 2004, Middleburg has acquired, developed or transacted in excess of $3 billion. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.middleburgcommunities.com.

Copyright: 
Copyright Business Wire 2024