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Before 2000, Richmond was NOT a condo town, with only a handful of older and dated condo projects to choose from.
In the early 2000’s as home prices were beginning their year over year rise and the leading edge of baby boomers approached retirement, the RVA Condo craze began. During the run, Richmond (specifically Downtown Richmond) added 2 towers, rehabbed numerous old apartment buildings, built new ground-up infill projects, converted warehouses, hospitals, churches and schools and pretty much added what amounted to 700+ units that didn’t exist before.
It was a big jump.
Condo Inventory in Richmond // For Sale
When the dust settled, the developers in Richmond (and some from outside) had created a new market in areas that had severely lacked any new product for literally decades. In the Downtown market, lofts and flats were the most common with several high rise options. In points further west, old apartment buildings were the primary source of product and many were bought, renovated, converted and sold. When the market adjustment occurred in the summer of 2008, MLS showed over 400 condos available in Zone 10. The number was probably greater by about 20-30% as few projects listed every unit for sale in MLS.
Since the 2008 adjustment, the condo market has stabilized somewhat as the excess inventory was absorbed quickly. Likewise, due to the nature of a condo (usually smaller size), there have been fewer incidences of foreclosure and short selling. With the ability for a condo owner to reasonably rent their unit to cover expenses and the exploding demand in rental market (think VCU and MCV!) owners had the ability to minimize the financial hardship of a condo that has lost value much better than the owners of a $500,000 suburban home.
Searches for Condos By # of Bedrooms
Searches for Condos By Price
The Condo market in Richmond is generally comprised of several larger projects (50+ units) or projects which tend to be smaller (25 units or less).
The larger projects typically, though not always, offer more amenities (pool, exercise facilities, elevators, security, secure garage parking) and often times better views due to their height.
- Vistas on the James (High Rise along the River in Shockoe)
- Riverside on the James (Mid Rise along the River Downtown)
- The Prestwould (High Rise overlooking VCU’s Monroe Park)
- Old Manchester Lofts (warehouse conversion in Manchester)
- Nolde Bakery (warehouse conversion on Church Hill)
- Rocketts Landing (4 different Mid Rise buildings + several town home projects)
- Ginter Place (historic conversion to large luxury units in Ginter Park)
Fan/Near West End
- Tuscan Villas (spanish themed apartment conversion along the Boulevard)
- Lock Lane (apartment conversion in the classic Libbie/Grove corridor)
- Monument Square (new construction upscale mid rise near Willow Lawn)
- Mount Vernon (low rise apartment conversion fabulously located)
- The Tuckahoe (Classic and elegant High Rise near CCV)
West End/Short Pump/Glen Allen
- West Broad Village (WBV is a dense collection of upscale town homes, not condos, but in a ‘New Urbanist’ setting, so it is included on this page)
- Grayson Hill (again, upscale town homes, but with a great amenity package)
Around The Colleges
Other Downtown Condos
- Emrick Flats — First truely industrial design in RVA
- The Marshall Street Bakery — Historic Jackson Ward
- The Reserve — A Blend of Contemporary and Warehouse along Tobacco Row
- Warehouse 201 — Authentic Industrial Chic (this project is still largely treated as an rental property by the owner, despite having several units under individual ownership)
- The Decatur — Luxury Custom Loft
- Miller and Rhodes — Only a handful of the condos at M+R were sold and the rest were converted back to apartments.
- The 212 — Traditional Design close to Med School
- 2C — Modern and Industrial in JW
- Studio 516 — The CondoMINIums
- 6N6 — a conversion of an old book bindery property.
Fan/Museum District/Near West End Condos
- Ironhouse Place — Popular with VCU students
- Cary Mews — High Modern meets Contemporary Warehouse
- Cary Place — New Construction along Cary Street
- The Windsor — Great Spot and close to VCU
- The Sydney — Heart of Fan
- Fountain Lake — Waterfront at Fountain Lake
- Mulberry Place — Fan District Renovation of Beautiful Building
- The Ambrata — Affordable in Museum District
- Fan Gallery — Industrial Renovation west of VCU
- The Hamlett Cleaners — Walk to EVERYTHING!
- Summit Lofts — in the heart of the renovation in Scotts Addition
- Hathaway Towers – Scenic views along Forest Hill Avenue
One-Click Searches for Condos
- For complete Condo coverage, visit our sister site at www.RichmondVaCondos.net