Answer: “About 700 apartments.”
Question: What is happening at the corner of 17th and E Broad?
The Richmond Cold Storage complex is a series of warehouses that produced ice (thus the name) as well as a few other warehouses and vacant lots that have been either converted to apartments (via Historic Tax Credits) or have become “ground-up” urban infill. When all said and done, the apartment count in within a 2 block radius of the corner will be somewhere between 700 and 800. When you include the project being developed on the entire block at Main and 21st, the count comes closer to 1,000.
That is substantial development in a relatively small area in a very compressed time frame and the good news is that they are leasing well for prices that can only be described at as pleasing to the developers that built them.
This new node of development in the northern end of “The Bottom” is an excellent trend for an area that has always struggled to sustain commercial/retail momentum. By targeting the “all inclusive” model at the Medical crowd and within walking distance to the Medical complex, the apartments seem to be creating their own momentum. The apartments are shifting population trends into eastern sections of the City and adding living options that did not exist in the area prior to just few years ago.
Cold Storage, Cedar Broad, Southland Wine Company and Raven’s Place are all part of the overall development area that will impact the City for decades to come.
