The Lofts at Trolley Station has sold $5.45 Million. News of the November 15th sale was first reported by The Richmond Times-Dispatch.
Genesis Properties, the developer of the property, has this to say about the property on their website:
“This was an adaptive reuse of the City of Richmond’s Trolley car Repair Facility in the Old Manchester Historic District which runs along the James River directly across from Richmond’s business and downtown district. Genesis started this project when this area of Richmond was in the doldrums. Numerous old historic tobacco and manufacturing buildings. Most were being used as warehouses were vacant and falling apart. Genesis was one of the first developers to move into this now thriving and fast growing area of the city. The Lofts at Trolley Station consists of 47 unique loft style luxury apartment homes. Most of the apartments are two story units with terrific views of the city skyline. The development cost was more than of $7 million.”
This is the second large transaction to take place within a block of one another as The Corrugated Box Building sold for $4.25 Million in October.