INNSBROOK MIXED USE PHASE ONE SLATED TO BEGIN
After years of planning and research, Innsbrook’s zoning designation as an Urban Mixed Use “UMU” development is coming to fruition. Developers plan to break ground on phase 1 by the end of November at the corner of Innslake Drive and Dominion Boulevard in Innsbrook.
“We saw the potential value in Innsbrook right away”, said developer Richard Souter of WVS Companies. WAM Associates LLC, led by Joe Marchetti Jr., along with Richmond-based WVS, filed their updated plans last month for the second phase of their Innslake Place apartment development at 4235 Innslake Place in Innsbrook.
The first phase calls for a five-story, 100-unit apartment complex on the corner of Innslake Drive and Dominion Boulevard. The second phase of 123 units will extend above a surface parking lot next door to the Benchmark Mortgage Company building on the site. The development will include a 255-space parking deck for office tenants and residents, and a courtyard and improved walkways with upscale landscaping. “Innsbrook is already the heart of business in Henrico and one of the largest business parks in the state. The future is urban so we are taking the lead with this project as we begin to actualize the vision of the Innsbrook Architectural Review Committee for the future growth and densification of Innsbrook”, Richard Souter, continued. The first phase of Innslake Place is slated to be finished by the first quarter of 2020.
Innsbrook business park was the brain child of founders, Sidney Gunst and Paul Kreckman nearly 4 decades ago. While history certainly has its place, it is also important to continue to keep pace with changes in trends. With this in mind, Mr. Gunst and Mr. Kreckman, along with the Innsbrook Owners Association, decided to make plans for “Innsbrook Next”. Innsbrook business park is managed by Highwoods Properties which owns the largest percentage of property in Innsbrook. “Highwoods Properties is thrilled for the first new residential apartment community in Innsbrook Corporate Center to become reality in the near future. We have thousands of office customers who enjoy the many amenities of Innsbrook and this project is a validation of the desirable ‘live, work, play’”, remarked Highwoods Properties’ Richmond Lead and Vice President, Jane DuFrane.
In addition to the 400 companies and 20,000 employees that call Innsbrook their home for business, thousands more come to Innsbrook each year for entertainment, community engagement, retail opportunities, and for the pristinely landscaped natural features of Innsbrook which include more than 5 miles of walking trails and 36 acres of man-made lakes. To say that Innsbrook is unique is an understatement. “With built-in retail in the Innsbrook Shoppes, which is walking distance from the apartment development, this was the perfect location for our project”, Souter commented.
“The Innsbrook Foundation team will continue to build on the 80-100 events that we host and oversee in Innsbrook each year. Plans are already underway to add programming that reflects the needs and interests of our expanded community”, remarked Innsbrook Foundation Executive Director, Yvonne Mastromano.