Norfolk, VA

CovePointe is a 122-unit Class A rental community developed in the Larchmont area of Norfolk, VA, and completed in 2015. The project represents the final phase of a master-planned riverfront neighborhood featuring townhomes, condominiums, and extensive amenities oriented toward the Lafayette River.

Located adjacent to Old Dominion University, just one mile from the Norfolk Naval Base, the Port of Norfolk, and two miles from downtown and the medical center, CovePointe is the only Class A rental property in this historic area of the city. Collins played a key role in transforming this growing neighborhood, where significant public and private investment has fueled expansion of the university, new businesses, and educational facilities.

Partners

Joint venture with HQ Capital, NY

Lender

BB&T Bank

Financials

Project Cost: $18.3 mm
Projected 2016 NOI: $1.4 mm

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