Bonaventure Breaks Ground on $75M Multifamily Development in VA
Bonaventure announced the groundbreaking of Attain at Greenbrier, a 268-unit multifamily community at 1553 River Birch Run in Chesapeake’s Greenbrier submarket.
The $74.5 million project is expected to be completed in late 2027. The site, previously home to a commercial call center, was acquired and rezoned by Bonaventure in 2022 to enable residential density — converting an underutilized parcel into a meaningful addition to Chesapeake’s housing supply at a time when the submarket is structurally undersupplied.
Attain at Greenbrier’s capital stack includes equity raised from Bonaventure’s network of investors, paired with long-duration debt through a HUD Section 221(d)(4) loan originated through Walker & Dunlop that provides both construction and permanent financing in a single, fully amortizing 40-year execution.
The Greenbrier will consist of three four-story buildings totaling 268 units, with a mix of one-, two-, and three-bedroom residences averaging 1,037 square feet. Marlyn Development Corporation serves as the general contractor, RBA as the architect, Timmons Group as the civil engineer, and Bonaventure affiliate Vest Residential as the property manager.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout