Franklin Johnston’s Luxury M-F Project in Virginia Beach Takes Big Step Forward
- Jul 23, 2014
The Virginia Beach City Council has approved the rezoning of a 16-acre tract in the Princess Anne Commons area that Franklin Johnston Group plans to develop as a 240-unit luxury apartment community.
Called Southern Pines Apartments the property will consist of 10 three-story buildings, placed around two lakes and an adjacent golf course. Amenities will include a two-story clubhouse with a 2000-square-foot fitness club, parking structures and a resort-style pool.
Units will feature 9-foot ceilings, high-efficiency HVAC systems, granite countertops and ceramic floors. Prices will start at about $1,100 per month.
“The Courthouse and Princess Anne corridor area is without a doubt the most dynamic spot in our region right now,” Tom Johnston, the company’s Chief Development Officer of Franklin Johnston Group, in a statement. “Quality rental housing has not kept pace with the new employment created at the health care complex, educational institutions, and retail and office space in the area.”
Franklin Johnston did not disclose the cost of the project. Groundbreaking is scheduled for next spring, and residents will be able to move in by the end of 2015.
Southern Pines is the third multi-family project announced by Franklin Johnston in Hampton Roads this year. In May, the company revealed plans to build two affordable communities in Norfolk: The Crossings at Berkley Station, a 156-unit project, and The Pointe at Pickett Farm, which will offer 300 units. The three projects represent a combined investment of more than $100 million, according to the company..
Photo credits: Franklin Johnston Group