The Arts District parking lot will be replaced with the tallest building in years along Broad Street.
Henrico-based Bank Street Advisors plans an eight-story mixed-use building at 219-225 W. Broad St., according to plans filed with the city.
It rises to the lot at the corner of West Broad Street and North Madison Street and much of the former Mr. Able Propane building at 219 W. Broad Street next door. Bank Street purchased in 2020 $542,000.
The façade, signage and east wall of the existing four-story building will be retained and incorporated into the new building. The remainder will be demolished due to “significant structural, water and finish damage,” the plan says.the building fell into disrepair the following year Merger of Able’s parent company with Libyagas.
Bank Street principal Christian Kinnally said the latest project is another sign of the company’s bullishness on Broad Street.
“We know the city wants density,” Kinnally says. “This is an attempt to do that, and it’s a nod to the historic buildings around it. We want to work with the city to make sure it’s done right.”
Because the site is in a historic district, Bank Street and the project’s architect, SMBW, are seeking a Certificate of Adequacy from the city’s Building Review Board.
According to an application filed last week, the new building will have 4,200 square feet of ground floor commercial space beneath seven floors of apartments, for a total of 87 units, all of which will be one-bedroom or studio units. .
There are 21 parking spaces under the building, but Kiniry said the project will give access to more spaces than the 26 total spaces listed in the project’s plans.
“The interesting thing for us is how parking lots are changing. We need to accommodate[electric car]chargers in parking lots,” said Kiniry. “Parking is something we absolutely think about and what the future holds for parking and vehicles.”
Kinnily said he doesn’t know when they will be out front of CAR. His next scheduled meeting is September 27th.
Elsewhere in Monroe Ward, Bank Street is finishing up: one canal, a seven-story project a few blocks south. In the West, the company is doing well. soda flatsA seven-story, 89-unit apartment building at 2820 W. Broad St., Scott’s Addition.
The car factory that once occupied the site was demolished, revealing a large hole along the broad that would eventually serve as the project’s underground car park. Kiniree said he hopes concrete will be poured there in the coming weeks.