Image courtesy of Romm Custom Homes.
A local homebuilder is trying his hand at development.
William Romm, owner of Romm Custom Homes in Glen Allen, plans to build 49 townhouses on a 5.7-acre parcel of vacant land at the corner of East Parham Road and Villa Park Drive in Henrico County.
Romm has been in the homebuilding business since graduating from Virginia Military Institute in 1999 and has constructed houses in local subdivisions like Grey Oaks, Cedar Grove and Stonehurst.
This is the first time he’s set out to be both the builder and the developer on a project.
“It’s something I’ve wanted to do,” Romm said. “This opportunity came about, so I went for it.”
Romm spotted the vacant wooded lot and made an offer to buy it, but he declined to say what he’ll pay for it when the deal closes in a month or so. He plans to price the townhouses at $190,000 to about $230,000.
“There’s a good market for townhouses,” he said. “There’s a lot of office and commercial there but not a lot of housing … You’re going to build what the market is telling you to build.”
Townhouses have been a popular product of choice for many local builders in recent months, especially in Henrico County.
Local developer Atack Properties is planning 37 three-story townhouses on about 5.5 acres at 11123 Nuckols Road near Twin Hickory Road.
Eagle Construction has two townhouse developments in the works not far from Atack’s Nuckols Road plan.
HHHunt is preparing to build 82 townhouses at the Townes at Woodman, a development off Woodman Road near Mountain Road. HHHunt is also working on another 80 townhouses at Rocketts Landing, a mixed-use development that straddles the line between the city of Richmond and Henrico County.
Wilton Acquisitions is planning a new development of 107 townhouses off Wistar Road near its intersection with Walkenhut Drive in Henrico County.
Romm will market his new project, called Stone Ridge, to older couples looking to downsize and young professionals looking to own their first home. The townhouses will be 1,350 to 1,600 square feet.
“You still have a small yard. You can have a grill,” Romm said. “It’s a good use of the land.”
The plan is still awaiting some county approvals, but Romm hopes to start building in eight months.
He’s financing the project through First Capital Bank but declined to say how much he has budgeted for the work.
Romm Custom Homes built and sold 17 houses in the Richmond area last year, according to figures provided to Richmond BizSense for its annual homebuilder survey. Its average house was 3,500 square feet and $500,000.
Romm said he hopes Stone Ridge will be the beginning of a new chapter for his company. He’s recently added a superintendent and plans to add one more employee to bring his staff roster to five.
“This is a good project to get started, and hopefully it will lead to other projects,” he said.
Image courtesy of Romm Custom Homes.
A local homebuilder is trying his hand at development.
William Romm, owner of Romm Custom Homes in Glen Allen, plans to build 49 townhouses on a 5.7-acre parcel of vacant land at the corner of East Parham Road and Villa Park Drive in Henrico County.
Romm has been in the homebuilding business since graduating from Virginia Military Institute in 1999 and has constructed houses in local subdivisions like Grey Oaks, Cedar Grove and Stonehurst.
This is the first time he’s set out to be both the builder and the developer on a project.
“It’s something I’ve wanted to do,” Romm said. “This opportunity came about, so I went for it.”
Romm spotted the vacant wooded lot and made an offer to buy it, but he declined to say what he’ll pay for it when the deal closes in a month or so. He plans to price the townhouses at $190,000 to about $230,000.
“There’s a good market for townhouses,” he said. “There’s a lot of office and commercial there but not a lot of housing … You’re going to build what the market is telling you to build.”
Townhouses have been a popular product of choice for many local builders in recent months, especially in Henrico County.
Local developer Atack Properties is planning 37 three-story townhouses on about 5.5 acres at 11123 Nuckols Road near Twin Hickory Road.
Eagle Construction has two townhouse developments in the works not far from Atack’s Nuckols Road plan.
HHHunt is preparing to build 82 townhouses at the Townes at Woodman, a development off Woodman Road near Mountain Road. HHHunt is also working on another 80 townhouses at Rocketts Landing, a mixed-use development that straddles the line between the city of Richmond and Henrico County.
Wilton Acquisitions is planning a new development of 107 townhouses off Wistar Road near its intersection with Walkenhut Drive in Henrico County.
Romm will market his new project, called Stone Ridge, to older couples looking to downsize and young professionals looking to own their first home. The townhouses will be 1,350 to 1,600 square feet.
“You still have a small yard. You can have a grill,” Romm said. “It’s a good use of the land.”
The plan is still awaiting some county approvals, but Romm hopes to start building in eight months.
He’s financing the project through First Capital Bank but declined to say how much he has budgeted for the work.
Romm Custom Homes built and sold 17 houses in the Richmond area last year, according to figures provided to Richmond BizSense for its annual homebuilder survey. Its average house was 3,500 square feet and $500,000.
Romm said he hopes Stone Ridge will be the beginning of a new chapter for his company. He’s recently added a superintendent and plans to add one more employee to bring his staff roster to five.
“This is a good project to get started, and hopefully it will lead to other projects,” he said.