Franklin Johnston Group Buys Land for Latest Virginia Beach Apartment Project

by Jun 11, 2020Recent News0 comments

Local Firm Expects to Break Ground Next Spring On Third Multifamily Development in Pembroke Area

Article courtesy of https://product.costar.com/

The Franklin Johnston Group has acquired a site near a city park known as Mount Trashmore in Virginia Beach, Virginia, where the company is looking to develop a luxury apartment complex.

Since the late 1960s, the nearly 5-acre site at 4545 South Blvd. has housed a warehouse and small office building. But the land was recently rezoned from I-1 to conditional A-36 that allows for apartment development, clearing the way for Franklin Johnston’s new project.

Franklin Johnston’s plans for the site includes five, five-story buildings that would include 160 apartments ranging from one- to three-bedrooms. A three-story clubhouse, outdoor pool and other amenities are also being considered.

The project is the latest for Franklin Johnston in what is known as the Pembroke Strategic Growth Area, a 1,200-acre tract that has long been a target among city officials for redevelopment. Plans for the area include planned transit stations, alternative and workforce housing and the development of a cultural arts district.