RICHMOND, VA -Middleburg Communities announced it closed on an approximately 30-acre land parcel located at 15200 East West Road in Midlothian, Va., a suburb of Richmond. Middleburg plans to develop a Class A, build-to-rent community on the site, complete with cottages, duplexes and townhomes with private entrances and yards. The community, to be known as Hamlet Watkins Centre, will consist of 283 homes ranging in size from 788-1,800 square feet.
Hamlet Watkins Centre will offer a variety of one-, two-, and three-bedroom floorplans that meet the needs of single professionals and families alike who are seeking private, community living proximate to Richmond s major job centers and Chesterfield County s premier schools. The neighborhood-style community will feature a wide range of amenities and will include 111 cottages, 12 duplexes, and 37 townhome buildings with a mix of surface, detached garage, and attached garage parking. Construction is expected to commence in mid-2023, with units expected to begin coming online in 2025.
We are thrilled to debut our dedicated build-to-rent, single-family community brand in our home state of Virginia, said Selim Tay-Agbozo, President of Middleburg Development. Richmond has seen a steady influx of both job and population growth in recent years, with a large number of families moving to Midlothian specifically to be near its best-in-state schools. We expect Hamlet Watkins Centre to appeal to these families as well as the many individuals in the area who want to live in a neighborhood setting that offers best-in-class amenities and minimal maintenance.
Robin Bettarel, Managing Director of Development for Middleburg s Mid-Atlantic Region, stated, We re bullish on the Richmond MSA as our research shows exceptional, sustained economic growth with superior demographics. Our build-for-rent product in Midlothian will provide residents with a community anchor in a highly convenient location near multiple economic and leisure demand generators.
Hamlet Watkins Centre will be located at the interchange of VA-288 and Midlothian Turnpike, providing easy access to the more than 515,000 jobs within 30 minutes of the community. The property is part of the Watkins Centre masterplan, which includes 169,000 square-feet of existing Class A office, with another 100,000 square feet of office slated for construction. It s also a short distance to Westchester Commons, a 128-acre mixed use development with over 650,000 square feet of existing retail.
Financing for Hamlet Watkins Centre was provided by EagleBank.