Charleston developer breaks ground on mixed-use building in Richmond

Charleston, South Carolina-based real estate development company The Beach Co. announced Tuesday that it had broken ground on a 1.65-acre mixed-use development in Richmond called Tidewater, which has an expected completion of spring 2023.

Located in the Manchester neighborhood at 700 Semmes Ave., the six-story development will have about 266,854 square feet of apartments, about 8,000 square feet of amenity space and 2,603 square feet of commercial space on the ground floor. The development will have 221 apartments, with one- and two-bedroom floor plans.

“Richmond’s historic architecture, beautiful weather, tranquil green spaces and vibrant cultural scene are attracting a growing number of regional residents and employees looking to make this city their home,” Tim Cotter, development manager for The Beach Co., said in a statement. “Tidewater’s position in the heart of Manchester offers access to work and a balance of walkability to the neighborhood’s cafés, brew pubs and independent art studios and entertainment, all just a stone’s throw from downtown.”

Atlantic Union Bank is providing construction financing for Tidewater. The Beach Co. did not disclose financial details. Richmond-based Walter Parks Architects and engineering firm Timmons Group, plus general contracting company Newport News-based Clancy & Theys Construction Co., are The Beach Co.’s partners.