Seven years after getting the necessary zoning approval, a Virginia Beach developer is moving ahead on a $40 million apartment project in Chesterfield County.
Nearly 25 acres north of Chesterfield Towne Center have been cleared by Kotarides Developers to make way for construction of 17 two-story apartment buildings with 368 units.
Kotarides spokesman Danny Blevins said monthly rents on the apartment homes will range from $1,000 to $1,600. The first units are scheduled to be open next summer.
The development, named Belmont at Chesterfield Towne Center, will not include any commercial space, Blevins said. Besides being near the shopping mall, the apartment complex will be neighbors with a Costco store and WCVE’s headquarters.
Blevins said the project’s amenities include “a large clubhouse with a state-of-the-art fitness center, movie theater, cyber café, billiard table, kitchenette and clubroom, gaming stations, and WiFi throughout.”
The clubhouse pool will feature a sundeck, lap pool, sun shelf, fountain and waterfall, he said.
“In addition,” he said, “there is a hammock lounge, bocce-ball court, cabana with outdoor TV and fireplace, and a grilling area.”
The property will include a central wooded open space of more than 2 acres, a playground, a carwash facility, detached garages that can be leased and a fenced, landscaped perimeter.
Blevins said KPM LLC, a company affiliated with the developer, will handle property management.
The project is bounded on the north by Robious Road, on the west by Mall Drive, on the east by Old Farm Road and on the south by the Costco property.
Chesterfield County Senior Planner Beth Sykes said the property was rezoned in October 2006.
Most of the required road improvements were completed when the Costco was built, she said. The zoning report says the property is in attendance zones for Greenfield Elementary School, Robious Middle School and James River High School.
“The site plan has been approved for the apartment development,” Sykes said. “Currently, each building is in the building permit review process.”
Founded in 1963, Kotarides Developers specializes in multi-family, single family, and mixed-use acquisition and development. The company has several developments mostly in Hampton Roads and North Carolina.
KPM LLC manages a portfolio of more than 3,000 apartments and several commercial properties.