Richmond Selected Developer for Shockoe Bottom Project

The city chose Historic Housing to build a 190-unit apartment complex on a surplus parking lot.

Updated on Oct. 1, 2026 in Apartments

A vacant urban lot in Richmond, Virginia, showing a surveyor tripod and construction materials with historic brick buildings in the background. — Richmond officials selected Historic Housing to build the 190-unit Seabrook apartment complex on a city-owned lot at 212 N. 18th St. AI Illustration. Upload story photo >

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Richmond officials selected Historic Housing to transform a city-owned parking lot at 212 N. 18th St. into a mixed-income apartment complex. Named Seabrook, the eight-story building will feature 190 units, including 57 designated for affordable housing.

Why it matters

This development serves as a key initiative in the city's effort to convert underutilized municipal land into affordable housing stock. The proposal was chosen for its financial feasibility and the developer's experience with similar local projects.

The Seabrook project carries an estimated construction cost between $40 million and $45 million. The building will occupy a 1-acre site and include amenities such as structural parking, a swimming pool, and a rooftop terrace.

The players

Historic Housing

This real estate development firm is responsible for the design, construction, and property management of the proposed apartment project.

Richmond Department of Housing and Community Development

This city agency manages the RFP process and oversees the redevelopment of surplus municipal land for residential use.

The details

Historic Housing will oversee the design, construction, and property management of the new site. The company previously completed a 12-story residential building, The Bakery, located directly adjacent to the 18th Street lot.

The city declared the 18th Street lot as surplus in 2024.
The city issued a request for proposals for the site in fall 2025.
Finalists for the development contract were announced in summer 2026.
The city officially announced the selection of Historic Housing on October 1, 2026.
Construction on the new complex could potentially begin in August 2027.

Culture Shift

This project marks a continuation of Richmond's efforts to densify urban corridors like Shockoe Bottom through high-density residential infill. It reflects a wider move toward prioritizing municipal land usage for mixed-income developments rather than surface parking.

Residents can anticipate the conversion of a prominent downtown parking lot into a residential community featuring 190 new units. The inclusion of 57 units reserved for those earning 80% of the area median income aims to improve housing accessibility in the neighborhood.

The takeaway

This development represents a significant step in the ongoing urban revitalization of the historic district. Readers should monitor local planning agendas for upcoming opportunities to review the project site plans during the public approval process.