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S.L. Nusbaum Realty Co. Announces Development of New Apartment Community in Fredericksburg, VA

For Immediate Release
Contact: Susan Childress Corporate Marketing Director schildress@slnusbaum.com 757-282-6505
SL Nusbaum X Team

Norfolk, VA - (February, 2016) - S. L. Nusbaum Realty Co. is pleased to announce the purchase of an 11 acre parcel on Noble Way in Fredericksburg, Virginia for the development of Valor Apartment Homes, a 128-unit luxury affordable housing community.

Valor Apartment Homes will consist of spacious 1, 2 and 3 bedroom floor plans. The site is located within walking distance to the Central Park shopping corridor, and is directly across from the Wegmans grocery store on Fall Hill Avenue. The community will feature high-end finishes, such as granite countertops in the kitchens and baths, washers and dryers, a state-of-the- art clubhouse, fitness center, and resort style pool.  The community has also been designed with many energy efficient features, which will help lower ongoing utility expenses for residents.  It is anticipated that the clubhouse will open in the 4th quarter of 2016, and units will be available in the 1st quarter of 2017. Please visit: www.valorapartments.com

The community was designed by TS3 Architects and Bowman Consulting, and Hoy Construction, Inc. of Norfolk, VA is the General Contractor.

The property was purchased by Hamptons at Noble, LP, affiliates of S.L. Nusbaum Realty Co., from Noble Auto Park, LLC. Bill Overman, CCIM and John Wessling, CCIM represented the buyer in the transaction.  

S.L. Nusbaum Realty Co. worked with Virginia Housing Development Authority (VHDA), Wells Fargo, and TowneBank to secure financing on the project. The total investment in this development is approximately $25 million.

S.L. Nusbaum Realty Co. currently manages approximately 20,000 apartment units and has developed close to 50 communities throughout the Mid-Atlantic.

With over 112 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping center projects, apartment communities, office and industrial properties throughout the Mid-Atlantic.

 

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