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Rezoning
Glenwood Redevelopment LLC, a partnership between Spy Rock Real Estate Group and Crescent Development, is planning to redevelop Glenwood Farms into a mixed-income community with a variety of housing types.
As detailed in rezoning application (REZ-2024-101034), the redevelopment would consist of 913 dwelling units in a mix of townhomes, multifamily dwellings and age-restricted dwellings as well as commercial uses.
The Board of Supervisors approved the rezoning Aug. 13, following its approval by the Planning Commission on July 11.
Background
Glenwood Farms is a 294-unit apartment community built in 1948 on 32 acres off East Laburnum Avenue, east of Mechanicsville Turnpike. The property was purchased by Apex Glenwood, LLC, of New Jersey, in 2018.
Code violations
Beginning in 2018, Henrico County cited the property’s owner with more than 340 notices of violation of the building and maintenance codes. Those notices detailed more than 2,200 individual violations, such as electrical hazards, sewer line backups, plumbing leaks, rodent and insect infestations, broken or nonfunctioning doors and windows and repairs and other work completed without permits.
In addition, residents were subjected to illegal and retaliatory acts by the property management company after complaining about the condition of their unit and the property.
Court action
In November 2023, the Henrico Circuit Court placed Glenwood Farms into a receivership at the request of the property’s lender. This action was approved based on substantial and ongoing concerns about living conditions at Glenwood Farms and the property owner’s default on its loan. A receivership allows the responsibility for operating a property to be transferred to an entity other than its owner.
The court approved the sale of Glenwood Farms to Glenwood Redevelopment LLC on June 28. The company’s ownership took effect Aug. 5.
Henrico’s role & vision
The county is committed to ensuring that residents have access to housing that is safe, well-maintained and supportive of a high quality of life.
In support of its goal, the county has favored redeveloping Glenwood Farms as a mixed-income community that offers quality housing to meet the needs of existing residents and the broader community. The new community would include affordable workforce housing and market-rate housing, with both rental and homeownership options.
Henrico has provided $11 million in loans and additional incentives through its Economic Development Authority to support the redevelopment.
Recognizing that redevelopment would result in some disruption, the county supports management of the project to mitigate, to the extent possible, any negative impact on existing residents.
Next steps
Glenwood Redevelopment LLC has retained Art Craft Management as the interim property manager. The companies will contact tenants to inform them of the recent change in property ownership. Tenants also will be required to execute a new lease agreement. In addition, the owner has engaged an experienced relocation consultant who will assess residents’ needs and help them transition to other units at Glenwood Farms as portions are redeveloped. Henrico expects residents will be able to continue living at Glenwood Farms as long as they remain in compliance with the terms of their lease.
Community-based resources for residents
Virginia Career Works – Capital Region: vcwcapital.com
