With a local builder on board for the first phase of the project, the green flag is being waved for a Midlothian development which is being driven by the former owners of Richmond Raceway.
Main Street Homes has committed to building 150 townhouses which will be the first phase of Midlothian West, a residential and commercial development planned for a 44-acre site at Midlothian Turnpike and Old Otterdale Road.
The Midlothian-based builder in August purchased a 16-acre portion of the currently forested site, which sits across the Midlothian Turnpike from the Winterfield Crossing development and just west of the Ivymont Square shopping center anchored by Kroger.
The company paid $ 4.5 million for the parcel located at 14351 Midlothian Wood Blvd., which forms the southeast corner of the site. The deal was made on August 26, according to Chesterfield County property records, which did not show an appraisal value.
John Costello, director of land acquisition for Main Street Homes, said construction on the townhouses is expected to begin next spring, launching a multi-phase development that is also approved for 275 apartments. A shopping area facing Midlothian Turnpike is also planned, with developer BWS Enterprises taking the lead.
“The first phase of development will be our townhouse development,” Costello said, adding that the work would include the construction of a roundabout on Old Otterdale Road.
“I don’t think they will be far behind us on the commercial side. I believe multi-family apartments are still a few years away, ”he said.
County supervisors approved zoning for apartments and townhouses in 2018. Costello said the apartments would complete the development, following the commercial section that would face the toll highway.
Taylor Long Properties manages the rental of the commercial section, which would consist of retail sites. Robert Marshall of the brokerage, who manages the rental with owner Ellen Long, deferred his comments on the project to Sean Sawyer of BWS, who could not be reached.
Sawyer is the son of the late Wayne Sawyer, who ran BWS with his brother Billy. The brothers once owned the Richmond Raceway before selling it in 1999 with their father, Paul Sawyer, who led the racetrack’s transformation from a dirt track into a current racetrack complex.
Wayne, who has also invested in other real estate projects in the area, died on November 19.
Townhouses are expected to rise three stories and include covered porches on the second story of the kitchens. The units will range in size from 2,000 to 2,600 square feet and will include two to three bedrooms and flexible space on the first floor that can be converted into a fourth bedroom.
Home prices are expected to start between $ 300,000 and $ 300,000, although Costello noted that prices have not been finalized. A clubhouse is also planned and access to the site would be provided through the roundabout and a connection to Midlothian Wood Boulevard, which runs behind the adjacent shopping center.
Midlothian West continues a wave of westward development along the toll highway that includes Winterfield Crossing, which continues to take shape across the street. The Blackwood Development-led project recently got a new concept from EAT Restaurant Partners and will house a third location for Triple Crossing Brewing.
Meanwhile, Main Street Homes continues to develop Cosby Village, a 68-acre project at the intersection of Otterdale Road and Hull Street Road. Earlier this year, the company paid $ 7 million for a 47-acre site nearby, where it plans a $ 160 million development with up to 400 townhouses and a senior citizen’s residence.