The owners and developers of the Williamsburg Shopping Center have shared a look at their most recent plans with the Williamsburg community.
Broad Street Realty purchased the center for more than $13 million in January and released their preliminary redevelopment plans in July. Broad Street updated their designs for the newly-named “Midtown Row” after meeting with city staff.
The company took the plans before the city’s Architectural Review Board in July to receive early feedback, and the board told the team to come up with designs that were unique and ambitious, according to Broad Street CEO Michael Jacoby.
“We didn’t believe the local folks when they said ‘we want a little more edgy, a little cooler,’” Jacoby said. “They sent us back to the drawing board. Plus, they asked for a little more diversity. They didn’t want each [building] to look the same exact way. I think we accomplished that.”
Midtown Row will now feature four five-story buildings, each housing four floors of residential apartments above ground-floor businesses. Each building will be constructed with different exterior materials and color palettes — giving the center the “edgy” and “vibrant” look requested by the City’s Architectural Review Board, Jacoby said.
Broad Street intends to market the apartments to William & Mary students and young professionals, and Jacoby said they will be priced accordingly, with utilities included.
Jacoby presented the new plans to members of the Williamsburg business community Tuesday. He stated popular tenants in the shopping center — including Sal’s by Victor, Food Lion, and Virginia ABC — will be a part of Midtown Row.
Interior streets will run through Midtown Row, and Broad Street’s redevelopment strategy calls for the addition of landscaped pedestrian boulevards, a public plaza, art, sidewalks, bike lanes, new residential buildings, new storefronts and a new hotel.
Jacoby said he wants Midtown Row to be a destination within the city for residents, students and tourists alike.
“We’re trying to create a sense of place,” Jacoby said. “A place you’ll want to go hang out on a regular basis, a place I’ll want to go to hang out on a regular basis…when people think of Williamsburg, and they say, ‘Where should I go out to lunch?’ Immediately people will say, ‘Let’s go to Midtown Row.’”
Jacoby also confirmed Broad Street has the adjacent Monticello Shopping Center under contract, and will look to retain the center’s tenants, which he views as commercially viable. He said he hopes the two centers will serve as a commercial and cultural destination in the Greater Williamsburg community.
Broad Street Realty was founded in 2002 and is based in Bethesda, MD. The company has executed transactions involving more than 30 million square feet in retail space, according to Jacoby’s presentation Tuesday.
Jacoby said he hopes redevelopment of Midtown Row will be completed by summer of 2019.
