Actions

Tobacco Row condos hit market, ahead of project approval

Posted at 10:02 AM, Jun 30, 2016
and last updated 2016-06-30 10:02:19-04

RICHMOND, Va. — Units in a new condominium tower planned at the end of Tobacco Row are hitting the market, even before the $10 million project has received city approval.

One Shiplock, an 11-story, 15-unit condo building planned at 2723 E. Cary St., appeared in residential real estate listings earlier this month, with the highest-priced units listed for $1.55 million.

But the project, presented publicly last September, has yet to receive a special use permit from the City of Richmond needed for construction to go forward.

Developers David Johannas, Jerry Peters and Howard Kellman filed an application for the permit early this year, and City Council introduced the request at its meeting Monday. City Council referred it to the planning commission, which will consider it July 18. The site currently is zoned for manufacturing.

Johannas, a local architect, serves on the commission and said he would recuse himself when the request is considered.

The developers have spent months securing letters of support from the Shockoe Bottom and Church Hill neighborhood associations. With those letters received, Johannas said the project is more likely to receive the permit, hence their decision to start marketing the units.

“We spent a lot of time in Church Hill. We’re very sensitive to their concerns,” Johannas said. “The scale of the building is really small based on the footprint. I don’t see why we’d run into problems at this point.”

The developers are marketing the condos with One South Realty, which held a launch event this month. One South founder Rick Jarvis said it’s not unusual to list projects before they’re approved.

Jarvis said that is done in most cases “provided that there is substantial agreement from the neighborhoods that are involved in it.”

Continue reading on RichmondBizSense.com.

CBS6-News-at-4pm-and-Jennifer-Hudson-480x360.jpg

Entertainment

Watch 'The Jennifer Hudson Show' weekdays at 3 p.m. on CBS 6!

📱 Download CBS 6 News App
The app features breaking news alerts, live video, weather radar, traffic incidents, closings and delays and more.