Unicorp Delivers $250M, 1M-SF-MXD Development

RICHMOND, VA-Unicorp Development will be delivering the first phase of its $250 million, 911,000-sf, mixed-use project here within the next few weeks. Called West Broad Village, the project, which offers a mix of hotel, retail, office, multifamily and for-sale housing, has already leased up some 70% of the retail component.

The goal is to have the project operational at one time, Lisa Earnhardt, director of project management, tells GlobeSt.com, “so the project is not divided into formal phases per se.” Rather it will be opening in waves, she explains, with the first set to open at the beginning of September, when Whole Foods moves into the first building of the six-building-and-eight-out-parcel development. Other retailers that have signed onto the project include Books A Million, REI (which will be in a standalone building), Wachovia, Old Navy, and Dave and Busters.

The second wave of openings will be the apartment complex, called the Flats, which will be above the retail component. Later, a 135-key aloft hotel (a new Starwood brand) and two office towers will open. The two towers, which will be along Route 64, equal some 425,000 sf, she says. The remaining office space–175,000 sf–will be in the Village Center alongside the retail. Charles M. Polk III, Jimmy Appich and Sheila Bartosic, of GVA Advantis will handle leasing the office portion.

The project also includes a residential component: 339 apartment units and 545 for-sale, single-family attached homes. The latter, Earnhardt says, have already been sold to Ryan Homes, Prospect Homes and Eagle Construction. Located on approximately 118 acres, the development has three entrances along West Broad St.