The curious case of Gotham.
Developed in the early 2000’s by the REO Enterprises team, Gotham, according to most Richmonder’s, would fail miserably. As is the case with Richmond and something ‘new to Richmond,’ we were wrong.
Gotham was supposed to be different. Designed by local architect David Johannas and his team, it was one of the first residential projects to be placed in a Downtown Richmond neighborhood and it features (gasp!) contemporary design. It sold very quickly and it sold very well.
Now, fast forward a decade and knowing now what we all know about condos, would there have been some design changes? Yes, there would. Much of condo development is now driven by the principles of condo finance and Gotham requires a few things to be massaged in order to make it fall within the guidelines proscribed by Fannie Mae and Freddie Mac. But these tweaks can be achieved if you what you are doing.
Gotham is a neat project and at the time this post is written, One South has be responsible for roughly 60% of the sales in the property in the past several years. Needless to say, we know the building well.