East Coast developer contributes to multiphase master plan with affordable student housing in an Opportunity Zone
Collins Capital Partners has a long legacy of helping cities help them-selves. The developer currently holds a $500 million portfolio com-prising multifamily and commercial office space along the East Coast. Collins Capital Partners looks for opportunities to redevelop existing properties in urban areas, using real estate as a means to revitalize communities and help cities bring their visions to life.
The company’s latest project involves a partnership with Chesterfield Economic Development Authority. The public entity is undergoing a multiphase master plan called Springline at District 60, which is expected to become a bustling destination at the heart of Richmond, Virginia. Formerly known as Spring Rock Green, the 42-acre site will soon be home to retail, restaurants, office buildings, green spaces and Collins Capital Partners’ redevelopment project, The James at Springline.
The James will offer affordable student housing just a five-minute drive away from Virginia Commonwealth University. Its fully furnished units will range from one to four bedrooms, and it will boast the only townhome-style layout in Richmond’s off-campus housing stock. The amenities are designed to support an academic lifestyle, including computer stations, free printing, study spaces, a private shuttle to campus and complimentary high-speed internet in every unit.