Posted on 11/12/2020 by Jonathan Spiers at Richmond BizSense
Less than a week after spending $10 million for a 23-acre site near Short Pump, a prolific area builder put down nearly half that amount for roughly 2 acres in the city — putting the final piece of its next Richmond development in place.
Stanley Martin Homes has finalized its purchase of about 2¼ acres at 1480 and 1500 W. Moore St., where it plans to build the bulk of its recently approved Carver Square condominiums. The Reston-based builder paid $4 million in a deal that closed Nov. 4, according to an announcement from Divaris Real Estate.
Divaris agents Read Goode and Cheryle Toy represented Stanley Martin in the purchase. The transaction was not reflected on city property records available online as of Tuesday afternoon.
The purchase secures the final piece of a three-parcel assemblage that will house Carver Square, approved for 90 “two-over-two”-style units, meaning two-level condos stacked on top of each other within four-story buildings. The project, which secured zoning approval last month, will be the company’s second in the city, following the under-construction Stony Point Landing in the Bon Air area.
Stanley Martin had previously secured the third parcel for Carver Square: a 1.3-acre site at 1027 N. Lombardy St. that it purchased in March for $3.9 million. One South Commercial’s Lory Markham and Ann Schweitzer represented the seller in that deal.
Commonwealth Commercial’s Ben Bruni and Ryan Fanelli had the Moore Street listings, representing property owner John Bottger, who previously owned Argus Steel. The metal supplier has since relocated to Hanover County.