Local developer Genesis Properties is under contract to purchase the 20-story Eighth & Main office building as well as a nearby parking deck at 620 E. Cary St.
Dodson adds to holdings with $3M buy of Morton's Apartments complex richmondbizsense.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from richmondbizsense.com Daily Mail and Mail on Sunday newspapers.
Investors buy Imperial Plaza for $75M, plan to spend millions more on upgrades
Jonathan Spiers photos)
A multimillion-dollar updating of one of Richmond’s longest-running senior living communities is in the works following a $75 million purchase last week.
Imperial Plaza, a gated complex totaling hundreds of units in the city’s Northside, is being renamed and reimagined as a so-called “active adult” community after its sale Thursday to an out-of-town joint venture.
The new owners are Bluestone Group, a New York-based commercial real estate investment firm, and frequent collaborator Brentwood Investment Group, based in New Jersey.
The four multistory buildings at 1717 Bellevue Ave., beside Interstate 95 across from Bryan Park, are being rebranded as “Legacy at Imperial Village,” which Brentwood partner Barry Zolty described as an updated version of the 1960s-era facility that he said will cater to today’s 55-and-up demographic.
Developer turns attention to Southside for next round of apartment rehabs
February 8, 2021
The 121-unit Holly Springs Apartments will each get $74,000 worth of upgrades, including new heating, air, plumbing and electrical systems, as well as renovated kitchens and new appliances. (
Courtesy of Genesis Properties)
On the heels of a $15 million apartment rehab it completed in the city’s Northside, a Richmond developer is moving forward with its next round of upgrades to more of its lower-income housing stock this time south of the river.
Genesis Properties is getting ready to start construction on the first two of three apartment rehabs it’s planning over the next few years. The three properties, totaling 295 garden-style townhome units, are on nearly contiguous parcels in the city’s Broad Rock area, at the southwestern end of Maury Street just west of Maury Cemetery.