FOR IMMEDIATE RELEASE
March 16, 2017
HISTORIC CARYTOWN BUILDING WILL BECOME 32 LUXURY APARTMENTS
Building formerly housed Virginia Commission for the Blind
RICHMOND, Va. — March 15, 2017 — One of Carytown’s most famous historic buildings will soon become 32 luxury apartments. The former site of the former Virginia Commission for the Blind building at 3003 Parkwood Avenue in Richmond was sold by Commonwealth Commercial Partners.
“The property is in a fabulous location offering future residents easy access to all of the amenities in Carytown,” said Sam Worley of Commonwealth Commercial Partners, who represented the Seller along with Chris Jenkins and Ryan Fanelli.
The purchaser, Crescent Preservation and Development of Richmond paid $1,687,500 with the intention of converting the property to apartments using historic tax credits. Crescent Preservation & Development Co. is a real estate investment management firm specializing in the acquisition and adaptive reuse and/or substantial rehabilitation of affordable housing and historic structures using federal, state and local incentives to produce sustainable communities.
Walter Parks Architects of Richmond has been retained for the renovation design and Cite Design of Richmond has been hired for landscaping improvements. Monument Construction has been selected as the general contractor.
The 16,288-square foot, U-shaped building, originally constructed in 1941, sits on the edge of Carytown at the corners of Parkwood and Sheppard Streets. Built during the Colonial Revival style era, the building sits on .68 acres, and features Flemish-bond brick exterior walls, a brick belt course and corner quoins.
The building was constructed for $80,000 (including WPA funds) under the direction of Virginia Governor James Price. He appointed Lucian Louis Watts and the Virginia Commission for the Blind to oversee construction of the building, which came to represent Virginia’s significant efforts to address the social welfare of the blind population in the Commonwealth. The building served as executive offices of the Commission until 1980, when it moved to Azalea Avenue. The property was most recently a senior/retirement home known as Parkwood Manor.
About Commonwealth Commercial Partners, LLC
Commonwealth Commercial Partners is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Nashville, TN; Jacksonville, Tampa, FL; Reading, PA.; Greensboro, Raleigh, and Charlotte, NC.; Greenville, SC, and Hampton Roads, VA. Founded in 1996, the firm provides expertise to office, industrial, retail, hospitality, rural and urban land, and investment clients. CCP and affiliates service lines include Property Management, Asset Management, Fund Management, Hospitality Management, Commercial Sales & Leasing, and Land Sales. Supported by proprietary systems that provide consistent, proactive solutions, the team delivers a broad range of services to support the needs of large institutional, regional, and local clients. Our clients value the entrepreneurial, hands-on approach that is fostered by our culture of accountability, communication, and responsiveness. For more information, please visit www.commonwealthcommercial.com.