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Crowne Partners Pays $4.55 Mil for Richmond-Area Tract

RICHMOND, VA-Crowne Partners plans to build a 312-unit apartment complex on the 76.5 acres of Swift Creek, a mixed-use development in suburban Richmond.

By Mark Clothier | Updated on November 27, 2001

RICHMOND, VA – Swift Creek Associates, LP sold 76.5 acres of Swift Creek, a mixed-use development in Chesterfield County, to Crowne Partners for $4.55 million.

The site, at Hull Street Road and Interstate 288, is across Hull Street from Brandermill, a planned community. Crowne, based in Birmingham, AL, said it plans to build a 312-unit apartment complex and may eventually build as many as 700 multi-family units.

David M. Smith, CCIM of Insignia Thalhimer, handled the sale negotiations for Swift Creek Associates, LP. Smith says he is negotiating with major retail tenants, peripheral and out parcel users for the 3,400 sf retail portion of the development, but said none of the names could be disclosed.

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