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Northland Buys 22 Acres near Richmond for Live-Work-Play Development
Newton, MA-based Northland has acquired a 22-acre mixed-use development site within Innsbrook in Glen Allen, VA, a submarket of Richmond.
The site, named North End, is currently zoned for up to 700 multifamily units, 55,000 square feet of retail and a 150-key hotel. Highwood Properties is planning a 315,000 square-foot, Class A office building adjacent to the site.
The firm plans to introduce a diverse mix of retail options, including chef-curated restaurant concepts and amenity boutiques centered around activated open space, for both future multifamily residents and office tenants. The site is within close proximity to I-295, U.S. 250, and I-64 for connectivity to Richmond plus Washington, DC, Norfolk, VA and Chesapeake, VA.
“Richmond, and especially the area’s numerous active suburbs, has long been a compelling target market for Northland given its consistently fervent population growth, institutional higher education ecosystem, and flourishing Fortune 500 job prospects,” said Santo Dettore, associate VP of development at Northland.
- ◦Development
