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Posted on 4/30/2018 at Virginia Business

A local homebuilder has purchased the land for a 99-lot subdivision adjacent to a controversial proposed megasite near Chester.

Commonwealth Commercial Partners, based in Henrico County, said Monday that brokers Ryan Fanelli and Sam Worley represented Stoney Glen LLC in the sale of a 99-lot subdivision at 15310 Wellspring Road. According to Commonwealth Commercial, Richmond-based NK Homes, which has built homes in the counties of New Kent, Hanover and Henrico, purchased the 63-acre property for $1.4 million. The list price for the land at Commonwealth’s website was $2.2 million. The land was described as what would be Phase Two of the Wellspring development, with active new home sales in the Phase One development averaging $382,000.

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