The project is located in Norfolk Virginia, and sits within the neighborhood of Park Place. Park Place was once a Blue-Collar neighborhood consisting of mostly single-family residential structures. Park Place is known for the beautiful landscaped mini-parks that sit within various blocks of the community. The project is located at the 35th Street Corridor of Park Place at the intersection of Newport Avenue and West 35th Street. THC is focusing on the 35th Street corridor to increase density and bring back neighborhood commerce, in answer to the current trend of young professionals who like to live in cool neighborhoods, and be able to purchase goods and services without having to get back in their car once they reach home. THC successfully completed a mixed-use property on the adjacent lot 600 West 35th ( Newport Plaza). Newport Plaza consists of six loft apartments and a 4,500 Square foot ground floor restaurant called Croakers Spot, Now Bricksters. The project was completed four years ago and the restaurant has become a destination location in the City of Norfolk. Park Place is in the Growth stage of the real estate development cycle and has quickly become one of Norfolk's most sought after neighborhoods. The apartment community will be marketed to Norfolk's workforce (see chart below). Families with income between $30,000/Yr and $45,000/Yr. There has not been any new development of work force apartments, and as a result current workforce residents are being priced out of the neighborhood.
Building Type:
4 Story mostly brick construction with elevator
Unit Mix: (13) 2 Bedroom 2 Bathroom units & (37) 1 Bedroom units
Parking: (50) Off-street parking spaces
Features:
Access to Public Transportation, ADA Accessible Units, Bicycle Storage, Cable & High-Speed Internet Connections, Ceiling Fans, Central Air & Heat, Ceramic Tile Flooring, Community Laundry Facility, Community Room, , Dishwasher, In-Unit Washer/Dryer Hookups, Onsite Management Office, Microwave, Mobile Guest Access, Onsite Parking, Online Maintenance Requests, Online Rent Payments, Pendant Kitchen Lighting, Private Balconies, Secured Entry Access, Security Cameras, Stainless Steel Appliances.
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