The transformation of a decades-old shopping center site is filling out in Henrico’s Laurel area.
The former Laurel Park Shopping Center at Hungary and Woodman roads has been replaced with multiple structures that will make up Ainsworth, an 18-building mixed-use development consisting of 278 apartments, 72 rental townhomes and a retail building.
Demolition of the 60-year-old shopping center occurred in fall 2021, and site work and construction began last spring.
KBS is building the project for developer Aurelie Capital, a New York-based firm led by Pavan Malhotra that’s making its first splash in the Richmond market.
Malhotra said Ainsworth is making good progress. The developer is on track to deliver its first towhome units this summer, with additional units to be completed through the rest of this year and next year. He said completion is targeted for mid-2024.
“We are grateful to the community for its positive feedback thus far and are excited to bring this unique lifestyle project to Henrico,” Malhotra said.
Aurelie bought the 16-acre parcel in early 2020 for $1.5 million. Malhotra would not provide a project cost for Ainsworth.
Consisting of one-, two- and three-bedroom units, the development is anchored by the apartments in the center, with the townhomes lining the north end and fronting Woodman Road. All of the residential buildings will be three stories tall.
The apartments will average 950 square feet, while the townhomes will average 1,300 square feet. Units will feature balconies and washers and dryers, and planned amenities include a pool and hot tub, fitness center, game room, an acre park with walking trail, playgrounds and a rooftop lounge. A total of 415 parking spaces are planned.
Monthly rents for the units have not been disclosed. A website for the project says that floor plans will be posted soon. Drucker + Falk is signed on to manage the property.
Rounding out the project will be a 12,000-square-foot retail building, which Malhotra has said could fit four commercial tenants. He’s said desired tenants for the building fronting Hungary Road include local restaurants, a bike shop or small gym.
The overall development wraps around existing buildings at Woodman and Hungary that house a Dunkin’, Little Caesars Pizza, West End Heating and Air and a vape shop.
Whit Hanson, KBS’s project manager for Ainsworth, said construction is in the framing stage with roofing and siding installed on some buildings. Brick- and stonework is in progress, as is mechanical, electrical and plumbing work.
Hanson said site grading and utilities are substantially complete, and curb and gutter installations are set to start this spring, when paving for the roads is slated to wrap up. He said the project is about 30 percent complete and targeted for completion by mid-August next year. Poole & Poole Architecture designed the project.