Posted by admin on August 18, 2015
Libbie Mill-Midtown to Meet Growing Need for Office, Retail, Hotel Space
HENRICO CO., VA. – Gumenick Properties recently received approval from the Henrico County Board of Supervisors for a 250-foot, mixed-use building at Libbie Mill-Midtown. The board not only approved zoning revisions allowing the structure but also backed a related provisional use permit. Zoning and the permit were approved unanimously. Award-winning Libbie Mill-Midtown is the largest revitalization project in the 400-year history of Henrico.
As part of the approval, height restrictions placed on buildings during the original zoning case in 2007 were modified. Libbie Mill-Midtown now will be able to construct one building up to 250 feet in height and two buildings up to 175 feet in height. Based on current planning, these buildings will be designed for a mix of uses possibly including, retail, offices, a hotel, parking and condominium homes. Each building’s interior areas can be designed to meet the specific needs of the space users. No date has been set for construction of any of these buildings. The timing of such work will depend upon market conditions.
The developer agreed to restrict the location of these mixed-use buildings to specific locations primarily concentrated toward the core of the approximate 80-acre development. Remaining buildings to be constructed at Libbie Mill-Midtown, other than townhomes, are restricted to 100 feet or less in height.
“The addition of high-rise and mid-rise mixed-use buildings reflects strong demand in Central Virginia for office space. Libbie Mill-Midtown offers an excellent location for companies and organizations desiring access to downtown Richmond, western Henrico County and major regional transportation networks. These buildings also will enjoy a superb location at the heart of the Libbie Mill-Midtown community, placing them within easy walking distance of restaurants, stores and the Libbie Mill-Midtown lake plaza area, which serves as the neighborhood’s ‘downtown’ ” said Shane Finnegan, Vice President-Construction and Development.
Libbie-Mill-Midtown has already become a highly desirable location for offices and retail establishments. Since construction began at the community, a variety of companies and organizations have located there or plan to do so, including Rutherfoord, a Marsh & McLennan Agency, LLC company, Richmond Memorial Health Foundation, the Libbie Mill Library, Gumenick Properties and Southern Season of Chapel Hill, N.C., which operates a 53,000-square foot gourmet food store there.
The library, which will have approximately 60,000 square feet of floor space, is slated to open in late October of this year. Gumenick Properties donated the land for the library to Henrico County.
Libbie Mill-Midtown will be unique, existing as both a thriving local community and a regional destination. Its Midtown location is convenient to downtown Richmond, western Henrico and major roadways, including I-64 and I-95. The community is approved for up to 994 for-sale homes and 1,096 apartments. Libbie Mill-Midtown also will have a total of approximately 160,000 square feet of retail space. The neighborhood is estimated to take approximately 10 years to complete.
Earlier this year, Libbie Mill-Midtown received the Impact Award from the Richmond Real Estate Group and was named Project of the Year by the Greater Richmond Association for Commercial Real Estate. Click Here to learn more about Libbie Mill - Midtown.
CBRE|Richmond represents Gumenick Properties for leasing of the retail and office portions of Libbie Mill-Midtown. The community has a variety of office and retail spaces available. Barry Hofheimer and Robby Brownfield handle retail leasing for the property; Scott Durham and Malcolm Randolph oversee leasing for the office component. CBRE|Richmond can be reached at (804) 320-5500.
Based in Henrico, Gumenick Properties is an award-winning real estate development and management company with operations throughout the Southeast. Founded in the late 1940s, the company engages in two primary lines of business – apartment and commercial space development and community operations, and homebuilding. The company owns and operates investment properties in Florida and Virginia. In addition, the company currently is engaged in the creation of two new home communities in Henrico – Grayson Hill and Monument Square.