Luck Stone proposes 300-acre village
November 19, 2009 by Al Harris
Luck Development Partners, an affiliate of Richmond-based Luck Stone, wants to someday build a 330-acre mixed-use project in Spotsylvania County, about 50 miles north of Richmond.
The development, called Ni Village, will consists of 950 residential units and nearly a million square feet of office and retail space.
The village has been designed with an emphasis on sustainability.
“We wanted to distinguish ourselves as a different type of developer,” said General Manger Eileen Dahlstedt. “One thing that has always been important to Luck Stone is to be environmental stewards.”
Some developers throughout the state have bemoaned new regulations such as stricter storm water regulations and new street requirements that limit the number of cul-de-sacs allowed in a subdivision. But not Luck Development.
The company has been at work for the last three years designing Ni Village as a walkable community that incorporates environmentally friendly components such as trails, green space, and LEED buildings.
“We hope to become leaders with this development,” Dahlstedt said.
Dahlstedt said she hopes to attract green sector businesses to the office campus, and possibly a higher education center that offers courses in “green curriculum” from various universities.
The company plans to file a rezoning request Dec. 1; it is currently zoned for industrial and agricultural uses. Once that hurdle is cleared, it still may be a while before any ground is broken on the project. According to information put out by Luck Development, completion of the project is anticipated within the next 15 to 20 years.
“Any construction will be market driven,” said Dahlstedt. “As we move through the rezoning process, we will definitely begin marketing with Virginia Economic Development Partnership and the local economic development agency.”
So far there is no price tag on the development. Dahlstedt said they will not have a pro forma available until after the zoning is secured.
Luck Development expects the village to generate $62 million in revenue for the county over the next 20 to 25 years and when finished employ over 2,300 people, according to a preliminary analysis by Luck Development.
The property is adjacent to the parent company’s Massaponax quarry. There is also a small industrial office park on the site called River Run, which was developed by Luck Development and will be integrated into the village.
Al Harris covers commercial real estate for BizSense. Please send news tips to Al@richmondbizsense.com.
We are the Village Who Says Ni!
We shall say “Ni” to you if you do not appease us.
We want….. A SHRUBBERY!!!!
Notice they don’t have a price on it yet. When they come up with a price it’s going to be so high no one will buy the homes. If the proposed stormwater regulations aren’t changed by the legislature this coming session, affordable housing will cease to exist in Virginia. Thankfully, the legislature understands this. Luck Stone will when they try to start building and a 1500-square foot home costs $250,000.
very excited to see this sort of development in the pipeline. This is wonderful.
I do hope that the Village incorporates as a real town, with an elected gov’t. That would be much better than some dictatorial homeowners association which would try to squash freedom as they are prone to do.
Otherwise, best of luck, Luck Stone!
I can’t wait to see more details on the plans Luck Stone’s vision for this project. Certainly should bring some jobs and economic stimulus to the area.