The Winfield

  • In a partnership with United Methodist Family Services (UMFS), Spy Rock signed a 99-year prepaid ground lease for 5.91 acres adjacent to Scott’s Addition
  • The plan of development is to build 250 Class-A apartments with 15,700 SF of ground floor commercial and 128-key limited service hotel
  • Acquisition date: August 2019
  • Multifamily construction start: December 2016
  • Multifamily occupancy start: Summer 2021
  • Acquisition Bridge Lender: TowneBank
  • Multifamily construction/Permanent financing: Virginia Housing Development Authority
  • Hotel construction financing: TBD

Spa Lofts

  • Adaptive use of an existing warehouse into 139 apartments in the Manchester submarket of Richmond, VA using 4% Low-Income Tax Credits and Stae and Federal Historic Tax Credits
  • The project will include a class-A amenity package comprising of a fitness center, pool, clubroom and business center
  • Acquisition Date: November 2018
  • Construction Start: Q2 2019
  • Multifamily occupancy: Q2 2020
  • Acquisition loan: Virginia Commonwealth Bank
  • Construction/Permit financing: Cedar Rapids Bank & Trust
  • LIHTC investor: RedStone Equity Partners
  • Historic tax credit investor: Foss and Company

The Scout at Scott’s Addition

  • New construction development in Scott’s Addition, Richmond, VA
  • Five story building with garage and surface parking
  • 218 apartments with pool, grilling areas, dog park, fitness center, rooftop clubroom and deck
  • 15,000 SF of first-floor commercial space for rent
  • Construction start: November 2018
  • Initial deliveries: June 2020

The Oliver

  • New construction and historic renovation in Richmond, VA
  • Four story building and renovation of Three story historic building with surface parking
  • 164 apartments with clubroom, fitness center, outdoor grilling and gathering areas, and dog park
  • Construction Start: October 2018
  • Initial Deliveries: December 2019


  • New construction apartments in Scott’s Addition, Richmond, VA
  • 202 units in two newly built , four story elevator buildings with a roof deck
  • All first floor apartments are townhouse style two story with direct entry
  • The community offers a resort-style clubroom with pool, fire pit, fitness center and lounge
  • Over half and acre of open space will provide one of the largest outdoor recreation areas in the neighborhood
  • 293 parking spaces
  • Construction start: May 2016
  • Completed: July 2018

Diamond North

  • New construction apartment development in Virginia Beach, VA
  • Four story elevator buildings with surface parking
  • 180 apartments, resort-style clubhouse with pool, fire pit, fitness center, Cyber cafe and lounge
  • Construction start: May 2015
  • Construction complete: December 2016

Old Store Lofts

  • Adaptive Reuse of an old general store on Hull St. in the Manchester Neighborhood of Richmond, VA
  • 3 story building with 10 apartments and 3,000 SF of first floor commercial space
  • Construction Start: May 2016
  • Construction Complete: December 2016

The Preserve at Scott’s Addition Apartments

  • New construction and historic adaptive reuse of a former Coca Cola bottling facility in the Scott’s Addition neighborhood of Richmond, VA
  • 124 units in a newly built, four story elevator building with a roof deck
  • 70 loft-style units with a resort-style clubhouse with pool, fire pit, fitness center and lounge
  • Construction Start: March 2014
  • Initial Delivery: Q4 2014

Element at Ghent

  • New construction luxury apartment development in the Ghent neighborhood of Norfolk, VA
  • Six story elevator building with 4 levels of residential above 2 levels of parking
  • 164 apartments, resort-style clubhouse with pool, fire pit, fitness center, Cyber cafe, lounge and multiple outdoor decks
  • Construction start: April 2013
  • Initial delivery: March 2014