A 12-story mixed-use project serving the students of Virginia Commonwealth University opened its doors last year to meet the demand for student housing and capitalize on density plans from the city of Richmond, Virginia. In recognition of this consequential project, Ascend RVA earned a 2023 CoStar Impact Award for multifamily development of the year in Richmond, as judged by a panel of local industry professionals.
The Opus Group broke ground in 2021 on Ascend RVA, a 168-unit project home to 428 beds and 3,500 square feet of street-level retail. Located along the West Broad Street corridor, the project represents the first transit-oriented development to serve this area with its location on the Pulse bus rapid transit line, said Minnesota-based Opus. The company wrapped up the project in August, just in time for the fall 2022 academic school year.
About the Project: Located at the corner of West Broad and North Lombardy streets, Ascend RVA offers floor plans ranging from studio apartments to four-bedroom units with amenities that include an outdoor terrace area and pool, an indoor fitness room, lounge areas and a second-floor indoor/outdoor space. It also includes parking for 82 vehicles in a single-story basement garage. The building’s facade consists primarily of metal, aluminum and glass with concrete and brick along the street-level base.
What the Judges Said: The high-density development meets a real need for the area and sets a good precedent for future transit-oriented development projects, said Scott Keeton, managing director of sales and leasing at Commonwealth Continental.
"This type of construction is fairly new to Richmond and takes advantage of the new TOD zoning," added Andy Little, principal of John B. Levy Co.
They Made It Happen: The Opus Group developed and owns the building. Coastal Ridge Real Estate manages the property.
