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Construction starts on $80M apartments in Chesterfield
The developer of an estimated $80 million apartment building in Chesterfield County’s Springline at District 60 mixed-use development broke ground at the site on Sept. 28. The James at Springline will have 298 apartments and 28,000 square feet of ground-level retail space. Connecticut-based Collins Capital Partners is the lead developer. The project is scheduled for […]
Hampton Roads real estate veteran to retire
Lisa Chandler, president and principal broker of Berkshire Hathaway HomeServices RW Towne Property Management, announced her retirement Wednesday. Chandler will leave at the end of October after more than 40 years in real estate. Berkshire Hathaway and Virginia Beach-based Rose & Womble Realty merged in March, bringing more than 750 real estate agents together. Chandler […]
Residential roller coaster
Last year began on a high note for the Hampton Roads residential real estate market, with home prices and apartment rents soaring. According to the Real Estate Information Network, monthly median rent costs rose 20.4% compared with 2021, with median rents of $1,800. But by the fourth quarter of 2022, rent growth slowed and sales […]
Buc-ee’s buys land for second Va. location
A second Buc-ee’s Super Center is coming to Virginia along a busy stretch of highway in Shenandoah Valley near Mount Crawford. Buc-ee’s Mt. Crawford LLC purchased 21.3 acres located at the intersection of Interstate 81 and Friedens Church Road in Rockingham County from Lispen LLC for $6.6 million, Norfolk-based S.L Nusbaum Realty announced Tuesday. Plans […]
August NoVa home price growth outpaces national rate
Home prices grew faster in Northern Virginia than nationally in August, according to a Northern Virginia Association of Realtors report released Monday. The Northern Virginia market also had lower inventory than the nationwide market, but sales declined in both markets. “Despite mortgage rate increases, demand for housing is outstripping available options in our region. Low […]
Henrico office building sells for $66M
Richmond-based Kinsale Insurance has sold a 291,000-square-foot Class A office building on Staples Mill Road in western Henrico County for $66 million. The office, located at 2103 Staples Mill Road, was sold to Salus Federal Properties, a Charlotte, North Carolina-based limited liability company, commercial real estate firm Newmark announced. The building is 100% leased to […]
NoVa home prices increase, Hampton Roads sees inventory boost
Median home prices in Northern Virginia continue to increase, hitting $700,000 in August, an 11.6% percent increase over the previous year, according to the latest report from the Northern Virginia Association of Realtors. At the same time, year-over-year sales declined, decreasing 12.4% from August 2022, but month-over-month sales increased as the summer reaches its end. […]
Fed Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathere[...]
Real Estate 2023: MARK J. HOURIGAN SR.
After stints with Westinghouse and Galloway, Mark Hourigan founded construction and development company Hourigan Group in 1993. The company has more than 200 employees, all based in Virginia. Notable Hourigan Group projects include the 17-story VCU Health Adult Outpatient Pavilion and the University of Richmond’s 8,700-seat Robins Stadium, as well as Apex Plaza, a mixed-use […]
Real Estate 2023: JON PETERSON
Founded in 1965 by Peterson’s late father, Milt, Peterson Cos. is responsible for some of the most prominent and successful mixed-use retail, residential and office developments in Northern Virginia and Maryland, including Fairfax Corner, Fair Lakes, National Harbor, Burke Centre and Tysons McLean Office Park. In 2021, the company branched out to self-storage, opening its […]
Real Estate 2023: LOUIS S. ‘LOU’ HADDAD
Haddad joined Armada Hoffler as an on-site construction superintendent in 1985. After several promotions, he was named president of Armada Hoffler Construction Co. in 1987, at age 29. In 1996, he was promoted to president of the parent company, and nearly 15 years after joining Armada Hoffler, he became the company’s CEO in 1999. He […]
Real Estate 2023: LOUIS J. ROGERS
Since Rogers founded Capital Square in 2012, the real estate investment company has completed more than $7.5 billion in transaction volume and grew from handling mainly Delaware Statutory Trust 1031 Exchange offerings to launching a real estate investment trust and developing and operating multifamily properties across the nation. In September 2022, Rogers’ son-in-law, Whitson Huffman, [&hel[...]
