Dominion Realty Partners
PREMIER DEVELOPMENT FIRM
The DRP team offers a broad spectrum of experience when it comes to development services including: site selection, due diligence, entitlement, marketing, design, 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.
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Five years after striking a similar deal on an apartment complex next door, a local development firm has sold another batch of apartments in Chesterfield’s Boulders Office Park to the same out-of-town buyer.
Richmond-based Dominion Realty Partners last month sold the Boulders Lakeview apartments at 1501 Boulder Springs Terrace to American Landmark Apartments for $51.5 million.
The deal for the 212-unit complex closed Jan. 21 and comes to nearly $243,000 per door. Chesterfield County assessed the 27-acre property at $48 million.
American Landmark is a Florida-based firm that in 2021 bought the adjacent Boulders Lakeside complex that DRP likewise developed. The company paid $71.6 million, or about $288,000 per door, for that property, which has 248 units.
Sprouts Farmers Market is among a handful of retailers to sign on at the $200 million Westside Bottling project in north Durham, the site of the former Durham Coca-Cola Bottling Warehouse.
The developer, The Ardent Companies of Atlanta, has also landed Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salon and a handful of other retailers. The multifamily is being built in partnership with Raleigh developer Dominion Realty Partners.
For the residential piece, there will be 370 multifamily units and 35 for-sale townhomes. The apartments will be in a 5-story building with a mix of studio, one, two and three bedrooms while the townhomes will likely be a mix of three and four bedrooms.
Full buildout of the project will be in the second quarter of 2027 with the multifamily delivering in phases that line up with the retail phases.
Dominion Realty Partners, LLC (DRP) is pleased to announce that it has been awarded a new residential property management assignment by New York Life Real Estate Investors for 511 Fayetteville Street in Raleigh, NC, totaling 239 units. The transition will unite the existing commercial management assignment with New York Life Real Estate Investors and DRP for 501 Fayetteville Street, which includes 154,000 SF of commercial office at the project. Gregory Maziarz and Sherry Collins will collectively lead the Property Management teams.
“After developing the project and being awarded the management assignment of 501 Fayetteville Street in 2022, we have been devoted in showing New York Life Real Estate Investors the DRP difference. We are excited about the opportunity in fully managing this trophy project, and continuing to expand our partnership with New York Life,” says DRP CEO, Michael Campbell.
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About Dominion Realty Partners (DRP)
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30
years of experience
Our Commitment to the Environment
Our team at Dominion Realty Partners has more than 50 years of experience developing high-quality, yet environmentally sensitive commercial and residential properties throughout the Southeast & Mid-Atlantic regions.
DRP has completed 32 green certified projects, including one LEED Platinum, six LEED Gold and one LEED Certified, as well as numerous Green Globe and NAHB certifications in the last 14 years. It is the goal of the Dominion Realty Partners team to be a model corporate citizen by utilizing resources efficiently and being environmentally aware and responsible in all new and future developments.