Bonaventure was featured in REBusinessOnline in an article highlighting the start of construction on Attain at Swift Creek, a $93.3 million multifamily development in metro Richmond.
The article notes that the community will be located at 6805 Greenyard Road in Chester, Virginia, a southern suburb of Richmond in Chesterfield County. Attain at Swift Creek will feature a mix of one-, two- and three-bedroom apartments averaging 1,058 square feet.
REBusinessOnline also highlights the project’s financing structure, including a $79.9 million HUD Section 221(d)(4) construction loan originated by Walker & Dunlop. The 40-year, fixed-rate loan will support the development, with Bonaventure financing the balance of the project through its balance sheet while seeking a long-term equity partner.
The development is situated on a 31-acre site adjacent to a Kroger Marketplace-anchored shopping center. The project team includes KBS Inc. as general contractor, RBA Architects and Timmons Group as civil engineer.
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