The condominium market in Richmond was largely non-existent until the year 2000.
While there were several projects offering ‘condos’ for sale, these projects were largely dated in both decor and layout and offer little resemblance to the projects constructed in Richmond’s boom period from 2000 – 2008. The large majority of the projects built during this period were located within the City of Richmond and in the more dense neighborhoods of Jackson Ward, The Fan, Downtown, Church Hill, Manchester and along Broad Street.
Many of the Downtown Richmond neighborhoods were designated as ‘historic’ by the Department of Historic Resources/National Park Service meaning incentives for development became available which increased the feasibility of the projects dramatically and created a market where none had existed. The condo properties tend to be clustered in either mid-rise or high-rise structures.
The condominiums in Richmond are generally sized smaller than the typical single family home in the area and thus are popular with ’empty-nesters,’ first-time urban buyers, graduate/medical students and young professionals. Mostly located in neighborhoods which offer walkable amenities, the condo market in Richmond has helped to bring a population back to the urban neighborhoods in properties which had become functionally or economically obsolete.
The larger and more notable condo projects include (click for a list of All Condos in the Richmond Area):
- The Vistas on the James | Hi-rise luxury project in Downtown Richmond along the James River
- Riverside on the James | Mid-rise project in Downtown Richmond along the James River
- Rockett’s Landing | Collection of mid-rise buildings east of Downtown
- Ginter Place | Adaptive re-use of the historic Richmond Memorial Hospital in Richmond’s Northside
- Lock Lane | Adaptive re-use near the Libbie-Grove corridor in Richmond’s Near West End
- The Tiber | Upscale newly constructed project along Libbie Avenue
- The Warsaw | Mid-rise project in Richmond’s Fan District
- The Prestwould | Hi-rise project overlooking VCU’s Monroe Park campus
- The Tuckahoe | Stately mid-rise project overlooking CCV
- Tuscan Villas | Large mid-rise project along the Boulevard in Richmond’s Fan District
- Hathaway Towers | High-rise project along Forest Hill Avenue
- Monument Square | Collection of mid-rise properties near Willow Lawn
- The Emrick Flats | Industrial mid-rise project in Jackson Ward
- The Reserve | Combination of historic renovation and new construction along 25th Street
- Iron House Place | Mid-rise project near VCU
- Fan Gallery | Mid-rise adaptive re-use along Broad Street
- The Cary Mews | Combination of historic rehab and contemporary new construction along Cary Street
- Marshall Street Bakery | Adaptive re-use in Jackson Ward
- The 212 | Adaptive re-use in Jackson Ward
- 2C | Adaptive re-use in Jackson Ward
- Nolde Bakery | Adaptive re-use in Church Hill