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Real Estate

More on the apartments proposed for Mosby Street

Jonathan Spiers at Richmond BizSense has more info on the apartment building proposed for Mosby (right by Wheel Simple):

“Sam Tuttle’s Streetcar Properties is planning a three-story, 15-unit apartment building at 715 Mosby St., between Carrington and Venable streets and across from the Jefferson Townhouses rental complex.

[…]

While the apartments would be new construction, Tuttle is looking to capitalize on the site’s location within a state Opportunity Zone, which makes the project eligible for potential tax benefits for its investors. He said he’s also pursuing financing that would set rents at what he considers a market rate for that area. He said specific rental ranges would depend on that process playing out. He did not disclose a cost estimate for the project.”

The property at 715 Mosby Street, originally built as a fast-food restaurant, has most recently served as a small market. A proposal surfaced in 2009 to redevelop the property to roughly the same scale as the current proposal, to which neighbors at the time took issue with what many felt was a generic suburban design.

This proposal goes before CAR on August 25.

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