Thalhimer Realty Partners renovates historic Fan building into apartments
Thalhimer Realty Partners (THR) Inc., the investment and development subsidiary of Cushman & Wakefield | Thalhimer, has completed the renovation of the historic Columbia House in Richmond into apartments.
The company purchased the nearly 200-year-old building at the corner of West Grace and Lombardy streets in late 2014 for $950,000. It began renovations in mid-2015, investing $1.7 million in planning and renovations to transform the office into apartments, with the building now called Columbia Apartments. TRP says historic tax credits were used to help offset the costs.
Commonwealth Architects served as the architect and historic consultant for the renovation, and Corinthian Construction was the general contractor.
The project includes 25 studio, one- and two-bedroom apartments, with 410 to 924 square feet. Rents will range from $749 to $1,399 a month.
Cushman & Wakefield | Thalhimer’s Residential Property Services team will lease the apartments.
Columbia House was originally built as the estate of wealthy businessman Phillip Haxall in 1817.
The University of Richmond later acquired the building and used it as its main academic building. A north addition was built in 1911, and a west wing was built in 1924 to house T.C. Williams School of Law, completing the total structure that exists today. The university eventually moved its present site in the city’s West End.
The first residents are expected to move-in by July 1.
“The location, value, and history of the Columbia House really appealed to us. We knew we could transform the building into Class-A apartments that would attract a variety of residents including those looking to live in the Fan with easy access to major highways, and within walking distance of VCU,” Drew Wiltshire, president, Thalhimer Realty Partners, said in a statement.