BridgeWater Real Estate Brokerage is proud to exclusively present for sale this 8.412-acre development opportunity in Richmond, Virginia dubbed Highland Overlook.
Located in the Chestnut Hill neighborhood (pictured right), this site is just a few minutes away from the heart of downtown! Customers and residents can drive themselves or take a short walk from the nearby 4th and Magnolia GRTC bus stop.
Haint Blue Design Company has provided four preliminary concept plans for 6th and Magnolia. These concept plan include a flexible mix of development options including single-family detached homes, townhomes, multifamily apartments, and commercial buildings.
The site is currently zoned a combination of R-6 and M-1, creating possibilities for residential and industrial development. The Richmond 300 future land use map calls for part of the site to transition from Residential to Industrial, allowing for potential rezoning opportunities.
Additionally, the property benefits from a favorable political environment in Richmond’s 6th District—represented by Councilwoman Ellen Robertson—an area actively championing urban density, infill projects, and housing reform.
Developers can also take advantage of robust local financial incentives, including eligibility for 15–30 year local tax abatements via the Richmond Affordable Housing Performance Grant alongside potential gap financing through the Richmond Affordable Housing Trust Fund (AHTF).
For questions or more informaiton, please contact Adam Stein at 202-603-5587 and astein@bwreb.com. Thank you for your consideration.