Commonwealth Building

Richmond, VA

Units - 165
Strategy - New Construction 

Product Type - Mid-Rise Class A Apartments

The Commonwealth Building property in the rapidly developing Monument Avenue Park neighborhood, situated between the two most expensive rental areas of Richmond - Scott's Addition and Libbie Mill, is currently home to an outdated and largely unoccupied office building.  

The property's location presents various notable features, such as its advantageous proximity to the Willow Lawn retail center and two grocery stores situated just a few minutes away. Tenants will also benefit from the excellent connectivity provided by the Pulse mass-transit system, which provides easy and fast access to entertainment, restaurants, bars, and vibrant nightlife across all of downtown Richmond.

Upon completion of the redevelopment project, the property is set to become an iconic landmark along West Broad Street. The building's unique design and high quality architecture with significant road frontage on a prominent corner will make it easily recognizable and highly distinguishable. Prospective tenants will discover that the building strikes an ideal balance between luxury and affordability, urban living and tranquility, and communal amenities and personal privacy.

Groundbreaking is projected to be Q4 2024 with the first apartments slated for delivery in Q1 2026. The project will offer 165, luxury Class-A residential apartment homes in a mid-rise building. Alongside the apartment homes, the building will also feature a substantial retail space serving the local community. The property will showcase top-notch amenities, including a spa-like pool, a rooftop deck with city line views, dog washing station, multiple outdoor spaces, co-working area, and a wide range of contemporary tenant services. The building's connectivity to the surrounding community is also exceptional, ensuring easy access to the area's various amenities and attractions.