Eastern Shore condo project in the works
A Richmond developer was on vacation with his wife on the Eastern Shore when he got the inspiration for a mixed-use project there.
Danny Meyer, president and co-owner of Richmond-based Dallan Construction, says he bought this month The Parsons Building at 209 Mason Ave. in Cape Charles. He paid $575,000 for it in a deal that closed on Valentine’s Day, according to the office of Northampton County’s Commissioner of the Revenue.
Meyer is applying for a conditional-use permit to put retail and condos in at the 13,572-square-foot building. Meyer says the building dates back to 1920 and has been mostly vacant for years.
Meyer and his wife own a two-story duplex in Cape Charles. They were visiting Cape Charles in August when Meyer walked by The Parsons Building and felt it had potential. After some back and forth with the broker over the asking price of $850,000 they agreed on a deal.
“It’s becoming a hidden gem that’s probably not so hidden anymore,” Meyer says of Cape Charles. “Homes are being bought up pretty quickly.”
Meyer says plans to develop The Parsons Building will cost around $2 million. Meyer is personally developing it, and Dallan Construction will build it. Richmond-based Josh McCullar Architects is designing it. Union Bank and Trust is the doing the financing for the condo project
Meyer says plans call for three roughly 800-square-foot retail spots on the ground floor along with two ADA-compliant condos. The other two floors will have three condos each.
Prices for the condos will likely range from $280,000 to $395,000, Meyer says. He hopes to put the first condos on the market in about a year.
Meyer co-owns with Rich Robertson the company Dallan Development, which did the A2 project that involved six modern-design townhomes built between two alleys in Richmond.