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Rendering of Bainbridge Midlothian near Richmond
DevelopmentNewsSoutheastVirginia

The Bainbridge Cos. Breaks Ground on Midlothian Project Near Richmond, Virginia

by Lynn Peisner

MIDLOTHIAN, VA. — The Bainbridge Cos. has broken ground on Bainbridge Midlothian, a 310-unit community in Midlothian, about 16 miles west of Richmond, Virginia. This is the company’s first project in the Richmond market. The community will offer units in one-, two or three-bedroom floor plans. The developers anticipate a summer 2024 completion. The project cost was not disclosed. Bainbridge Midlothian’s amenities will include a resort-style pool and sundeck, a clubhouse featuring work-from-home spaces, a resident lounge and fitness center, a pickleball court, pet spa, fire pit, grilling stations, a …

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DevelopmentNewsNortheastVirginia

IDI Group, PTM Partners Complete 318-Unit Viridium in Woodbridge, Virginia

by Kari Lloyd

WOODBRIDGE, VA. — Developers IDI Group Cos. and PTM Partners have jointly completed construction of Viridium, a 318-unit community located in Woodbridge, approximately 20 miles south of Washington, D.C. Construction began in the second quarter of 2021. Viridium features one, two- and three-bedroom apartment layouts, a range of resident amenities and access to the Occoquan River. According to Apartments.com, rents for Viridium range from $1,740 to $4,190 per month. The building completes the multi-phase development, which began more than 15 years ago with the construction of Viridium’s sister building, Rivergate …

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Riverlands Apartments, a two-story brick multifamily community.
Investment SalesNewsSoutheastVirginia

Blackfin Purchases Riverlands Apartments in Newport News, Virginia for $44.2M

by Channing Hamilton

NEWPORT NEWS, VA. — Blackfin Real Estate Investors LLC has purchased Riverlands Apartments, a 404-unit multifamily community located in the Hampton Roads town of Newport News, for $44.2 million. Hank Hankins, Charles Wentworth, Victoria Pickett and Garrison Gore of Colliers represented the seller, an undisclosed developer that has owned the property since it was delivered in 1989. Riverlands features one-, two- and three-bedroom apartments, as well as a pool and fitness center. The property is adjacent to Westover Station, a 108-unit property that Blackfin acquired in November 2020. Overall Blackfin …

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