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RICHMOND, VA – Swift Creek Associates, LP sold 76.5 acres of Swift Creek, a mixed-use development in Chesterfield County, to Crowne Partners for $4.55 million.

The site, at Hull Street Road and Interstate 288, is across Hull Street from Brandermill, a planned community. Crowne, based in Birmingham, AL, said it plans to build a 312-unit apartment complex and may eventually build as many as 700 multi-family units.

David M. Smith, CCIM of Insignia Thalhimer, handled the sale negotiations for Swift Creek Associates, LP. Smith says he is negotiating with major retail tenants, peripheral and out parcel users for the 3,400 sf retail portion of the development, but said none of the names could be disclosed.

The development includes 13 acres of office land which will back up to the retail site and serve as a buffer between the retail and the apartment units, Smith says.

A third tract is under negotiation. The 25 acres backs up to Commonwealth Center and will connect to Commonwealth Center Drive, allowing access to the retail stores there, he says.

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