Spy Rock going after Scott’s Addition condo market with 134-unit project
May 10, 2021 6
The 4.5-acre site planned for a 134-unit condo project is currently home to masonry firm Riverside Brick & Supply Co. (
Mike Platania photo)
Scott’s Addition is constantly flush with new apartments, but a local developer is trying out a residential product of a different sort: condos.
Spy Rock Real Estate Group is planning a 134-unit condo project at 3406 Carlton St. at the intersection of Roseneath Road and Carlton Street.
The roughly 3.7-acre site is owned by Riverside Brick & Supply Co., a 150-year-old masonry company. Riverside President Mike Wray and Spy Rock Principal Andrew Basham both confirmed that Spy Rock has the land under contract for purchase.
Richmond development roundup for 2020
December 29, 2020
A rendering of the planned 7-story Soda Flats development next to the Hofheimer building in Scott’s Addition. (
Courtesy city documents)
Pandemic be damned, the COVID-fueled economic downturn didn’t seem to slow down development interest in the Richmond region in 2020.
Here’s a recap of some of the biggest projects that made headlines in Richmond this year:
Greater Scott’s Addition
The intersection of Ownby Lane and Overbrook Road continued to draw developer interest this year. Spy Rock Real Estate is planning a major mixed-use project that will place around 300 apartments and condos on six acres surrounding Hardywood Park Craft Brewery, which is renovating its taproom in the neighborhood.
Even amid the coronavirus pandemic, 2020 has proved to be a strong year for investment banking deals managed by Boxwood Partners.
The boutique investment bank with an office in Richmond â the headquarters moved from Richmond to Florida last month â has provided advisory services to eight companies on merger and acquisition deals this year.
âThatâs a good year for an investment bank our size,â said Patrick Galleher, Boxwoodâs managing partner. âThe market is great.â
Despite the economic impact of the pandemic, âamong companies that did well during COVID, we have got some great clients,â he said. âThe private equity markets are still flushed with cash and the debt markets are functioning well, considering everything that has happened.â