Essex Point at Mt Clement

ACRES: 13.186

PROJECT SIZE: ~ 160,000 GSF

TOTAL UNITS: 84 APARTMENT UNITS [56 UNITS FOR 55+ AGE-RESTRICTED ACTIVE ADULT HOUSING; AND 28 UNITS FOR WORKFORCE HOUSING]

COMMUNITY SPACE: 11,799 GSF

RETAIL SQUARE FOOTAGE: 41,494 GSF

ACQUISITION TYPE: GROUND LEASE

AFFORDABILITY: 30%, 50%, 60%, 80%, MARKET

DEVELOPER/OWNER: 7 AND M VIRGINIA LLC

PROJECT STATUS: ENTITLEMENT

COMPLETION DATE: TBD

PROJECT BUDGET: $66,300,000

PREDEVELOPMENT LENDER: CAPITAL IMPACT PARTNERS

PROPOSED FINANCING: TBD

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Tappahannock, Virginia

A mixed-use and mixed-income development including 84 multi-family residential dwelling units, 41,494 gsf of retail and commercial uses, and 11,799 gsf of community uses. Fifty-six (56) of the units are planned for 55+ age-restricted active adult housing; 45 of the units are proposed as affordable housing. Twenty-eight (28) units are planned for workforce housing; 22 of the units are proposed as affordable housing.