Norfolk, VA

CovePointe is a 122 rental apartment community built in the Larchmont area of Norfolk, VA and completed in 2015. The project was a final phase of a riverfront housing community that includes townhomes and condominiums with extensive amenities oriented to the Lafayette River. The property will be the only class A rental community built in the oldest part of the City adjacent to Old Dominion University, a mile from the Norfolk Naval Base, the Port of Norfolk and 2 miles from downtown and the medical center. Collins has helped transform this growing area of the city where considerable public and private investment has brought dramatic expansion to the university, businesses and new schools including a new Catholic School and elementary school.

Partners

Joint venture with HQ Capital, NY

Lender

BB&T Bank

Financials

Project Cost: $18.3 mm
Projected 2016 NOI: $1.4 mm View Property Website