160-unit complex planned near VCU

More students means more need for housing.

Gilbane Inc., a Providence, R.I.-based construction and development company, is seeking permission to build 160 student apartments near Virginia Commonwealth University.

The company has a pending zoning request to allow new construction at the site, located at 8 1/2 Canal Street at the intersection with Foushee Street. The application was submitted Jan. 26.

The site is next to the new VCU Brand Center and close to the business and engineering schools.

Wes Cotter, director of communications for Gilbane, confirmed the company’s intent to build.

“The budget is not available publicly yet,” said Cotter. “The timeline will be decided by approvals.”

Cotter said the building would be a mid-rise and exceed four to five stories. The 1.07-acre site is owned by Kanawha Company LC, which purchased it in 2004 for $1.9 million from Schnabel Real Estate Holdings.

Gilbane Construction worked on CenterStage, the state capitol renovation and several renovation projects for VCU.

Al Harris covers commercial real estate for BizSense. Please send news tips to Al@richmondbizsense.com.