Richmond Adds Luxury Community

The 137-unit Charleston Ridge in Hanover County will welcome its first residents by mid-October 2016.

By Bogdan Odagescu, Associate Editor

Charleston Ridge site plan, Mechancsville, Va.
Charleston Ridge site plan, Mechanicsville, Va.

Richmond, Va.Charleston Ridge, a 137-unit upscale community 14 miles north of downtown Richmond, will welcome its first residents by mid-October 2016, the Richmond Times-Dispatch reported. According to Yardi Matrix, the property is owned by Lawrence Shaia and will be managed by R.C. Evans Management Group.

Located at 10449 Atlee Station Road in Mechanicsville, Charleston Ridge is situated close to the intersection of interstates 95 and 295, as well as the Hanover County Municipal Airport and several high-density employment corridors.

The community offers 13 floor plans, encompassing 43 one-bedroom and 94 two-bedroom units ranging between 727 and 1302 square feet. Charleston Ridge consists of four elevator-served buildings sitting on a 29.9-acre lot and features a fitness center, clubhouse, business center, outside storage, grade-level parking and a media room.

The property is subject to an $18.6 million HUD construction loan originated by Berkeley Point Capital at the end of September 2015. The loan has a 4.14 percent fixed interest rate.

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