South Gate Apartments
112 units of Affordable Housing. An existing apartment community that was renovated and updated. Total cost of the project was approximately $4.5 million financed using 4% tax exempt bonds.
Property Development
Genesis Properties, Inc., and its affiliates has been active in real estate since 1977. Its principals have developed or re-developed over 2,000,000 square feet of multifamily, office, and retail real estate in the Greater Richmond area.
Current Developments
Our current projects include new construction and historical rehabilitation, with impact for different residential communities throughout Richmond.
Completed Projects
Our successful projects are evident throughout Richmond and provides the foundation of our reputation as a premiere development company here in Central Virginia.
Property Development
Genesis Properties has established a reputation for excellence in the development and construction of multi-family housing by establishing wide-ranging experience in investment structuring, property financing, management and property sales. Since 1977, the company has concentrated its efforts in the Central Virginia market.
Genesis Properties has developed or rehabilitated over 2,000,000 square feet of multi-family, office, and retail space in a variety of roles from principal, to developer, to general contractor. Having cultivated lasting relationships with the finest design professionals and subcontractors, Genesis Properties is a recognized leader in the multi-family housing industry and maintains a distinct advantage in these competitive markets.
View features
Overview
- 25 Years Property Management Experience
- Managed over 500 single family homes in Richmond (1985-Present)
- Currently manages over 1,700 Multi-family apartment units in Central Virginia
- Manages 18 Retail locations
Recognition
- 2002 CCIM Virginia Business Most Significant Real Estate Transaction Award
- 2005 CAHEC Best Implementation of Community Programs Award
Affiliations
- VAMA (Virginia Apartment Management Association)
- RAOA (Richmond Apartment Owners Association)
- IREM (Institute of Real Estate Management)
- NAA (National Apartment Association)
- NAAMA (National Affordable Apartment Management Association)
Completed Projects
Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam.
Hatcher Tobacco Flats
A 152-unit affordable community located in Manchester area of Richmond. Hatcher Tobacco Flats utilized 9% low-income housing tax credits and features a covered parking, clubhouse, and fitness center. Residents have access to free internet and cable, and can be in downtown Richmond within 1 minute by car or bus.
Trolley Lofts
Genesis completed adaptive rehab of the historic City of Richmond Trolley Car repair facility in the Old Manchester historic district. This property consists of 47 upscale loft apartments. Most are two story units with views of the city skyline.
The Edison Apartments
This 1914 building was the original headquarters of Dominion Virginia Power. Genesis acquired this 13-story tower and 7-story annex along with a 300-car garage in a joint venture with Armada-Hoffler (NYSE:AHH). This property features 174 luxury apartment units and a variety of retail and office tenants, including the Partnership for People with Disabilities, a subsidiary of Virginia Commonwealth University.
Shockoe Valley View Apartments
A 151-unit new section of Richmond, market rate development in Union Hill. This property has changed the skyline in Union Hill and follows Genesis’ motto of “renewing neighborhoods.” SVV features a modern design and includes a pool, business center, bicycle repair shop, and clubhouse with a view of the downtown skyline and the entire Shockoe Valley.
5–27 West Broad Street
This project has been the subject of several local newspaper articles. This project was a $15 million adaptive rehab project of 104 market rate residential units and five retail units. Like the Heritage building, Genesis was asked to nominate this project for national recognition.
Brown & Williamson
Tobacco facility in Petersburg, Va. This is a three phase project that Genesis is partnering with Franklin Development Group to convert into an old tobacco manufacturing and warehouse complex into upscale apartments, retail and office. The first phase has over 175 apartment units.
The Corley Buildings
With the Richmond Arts District’s recent expansion, these buildings at 214 E Grace and 213 E Broad are well located and will help redevelop the area into a thriving mixed use corridor. The development will include 19 market rate apartments, 2 Live/Work lofts, and 3 retail locations.
1400 Block of West Marshall
Genesis and its partners developed the entire block (behind the new VCU Parking Deck). The first phase was renovating the old Eagle Mill Paper Company building turning it into 45 residential units. Phase Two included a $5 million adaptive rehab project taking a historic clothing manufacturing facility and converting it into 40 upscale apartments. The third and final phase consisted of 30 condominiums and a two-level 130 car parking deck. Genesis was able to obtain a Special Use Permit by working with the City of Richmond and the Carver Civic Association to obtain the Special Use Permit necessary to undertake this development.
Village South Townhouses
An affordable 121-unit property in South Richmond, where Genesis used Low Income Housing Tax Credits to rehab an existing complex built in 1947. Genesis was recognized as the Affordable Community of the Year in 2002 by Virginia Business and won the Outstanding Community Development award by CAHEC, a non-profit tax credit equity investor.
