Third developer in 3 years takes a crack at vacant Broad St. lot on Richmond-Henrico line

A rendering of one of the planned apartment buildings. (County documents)

The third time might be the charm for 4400 W. Broad St. to finally be redeveloped.

The 6-acre parking lot, which has been targeted by apartment developers at least twice in recent years, is being eyed for a nearly 300-unit project from Northern Virginia-based Middleburg Communities.

Last month Middleburg submitted plans to Henrico County for a pair of four-story buildings totaling 296 units for the site. The building nearest to Broad Street would house 132 units and include a 9,300-square-foot amenity space. Behind it would be a second building with 164 units. 

Planned amenities include a pool and courtyard, plus 358 surface parking spaces. Poole & Poole Architecture is listed as the project architect and Timmons Group the engineer. 

A site plan of the development.

Middleburg spokespeople didn’t respond to questions about the planned development. Mark Motley, whose Motleys Asset Disposition Group owns the land, wasn’t available for comment by press time. 

The lot, which straddles the Richmond-Henrico County line, has sat vacant for years. 

In 2022, Arizona-based developer Alliance Residential Co. put it under contract with plans to build 340 apartments, but that project was scrapped after running into issues related to utility access between the two municipalities. 

Next came Florida-based Mill Creek Residential, which put the property under contract and looked to pick up where Alliance left off. But that deal also didn’t reach closing as high interest rates led Mill Creek to punt on it. 

Now it’s Middleburg’s turn to take a crack at it. The firm entered the local market a few years ago with a trio of projects in the area. 

It’s unclear whether Middleburg has the Broad Street site under contract. When the property hit the market last year, the asking price was $13 million, and the offering included an approved special-use permit and plans for the development, which Alliance secured in 2022. The city and county most recently assessed the property at a combined $2.7 million. 

Additional apartments are in the works a bit further down West Broad Street. 

The Breakwater Cos. is planning to replace an aging office building at 4605, 4623 and 4625 W. Broad St. with a six-story, 171-unit structure. The Maryland-based developer secured the land it needs for the redevelopment late last year.

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