Breeden Co. Launches Construction of VA Community

Located near Chesapeake Bay, the $30 million Pinewell Station development features three buildings encompassing 145 units.
Rendering of Pinewell Station

The Breeden Co. has launched construction of a 145-unit apartment community in Norfolk, Va. Valued at $30 million, Pinewell Station will consist of three buildings once completed and will offer a mix of one-, two- and three-bedroom units.

Located at 719 E. Ocean View Ave., the six-acre project is situated one block from Chesapeake Bay, about 9 miles from downtown Norfolk, and is close to interstates 64 and 564, as well as highways 60 and 460. Amenities at the four-story community will include a media center, fitness facility, hospitality bar, business center, swimming pool, fire pits and rooftop deck.

The Breeden Co. is the largest owner of multifamily in the Richmond, Va., area with approximately 7,700 units across 33 properties, according to a Yardi Matrix report from last Spring.

Last November, Besyata Investment Group and The Scharf Group added to its footprint in Virginia Beach, Va., with the acquisition of Brookfield Apartment Homes from Bonaventure Realty Group for $37.8 million.

Image courtesy of The Breeden Company