Development The DRP team offers a broad spectrum of experience when it comes to development services including site selection, due diligence, entitlement, incentive, marketing, design and construction management and financial services. Throughout the development process we are focused on the end result: a high-quality, high-value asset with eco-friendly design principles.

Fifth Street Place | Charlottesville, VA

Fifth Street Place will consist of 200 Class A garden style apartments located on 5th Street, directly off Interstate 64 at exit 120 in southern Charlottesville, VA. Fifth Street Place will be adjacent to Red Light Management’s new mixed-use lifestyle center, Fifth Street Station. The development has commenced site work and includes 465,000 square feet of retail space and will be anchored by Wegmans Food Markets (140,000 square foot), a widely acclaimed, family-owned regional supermarket. Other tenants will include Field & Stream and Petco as well as upscale fashion retail stores, restaurants and personal service shops. The project also has easy access to all the areas of Charlottesville, including the Downtown Mall and the University of Virginia via 5th Street as well as all other areas of Charlottesville via I-64.

The property will consist of five (5) apartment buildings, a resident clubhouse with Wi-Fi access, a fitness center, coffee bar, and a swimming pool with sundeck and grilling area in a beautifully landscaped setting. Unit amenities will include nine-foot ceilings, granite countertops, ENERGY STAR appliances, washer/dryer, storage, balconies or patios, and walk-in closets. Fifth Street Place will also be designated by NAHB’s Green Building Standards.

Project Details

  • 200 One- and Two-bedroom Class A Apartments
  • Average Unit Size: 939 SF
  • Close Proximity To Rich Amenity Base That Includes Wegman's, Field & Stream, Dick's Sporting Goods, Panera Bread and Jersey Mikes
  • Commenced 2016: Anticipated Completion 2017