Manchester Multifamily Dev Assemblage, 12 Stories by Right

Real Estate Auction in The Westin Richmond, Richmond Virginia, United States

01 Wednesday
April 01st, 2020 3:00 PM

Manchester Multifamily Dev Assemblage, 12 Stories by Right

Real Estate Auction in The Westin Richmond, Richmond Virginia, United States

Wednesday at - 01st April , 2020

Notes

Buyers premium: 8% Buyers Premium based on the high bid.
Closing: 45-Day closing, sold in As-Is condition, no contingencies.
Deposit Amount: 10% deposit due within 2 business days of being notified that you are the successful high bidder.
Broker Coop: 1.5% of the high bid will be paid to a properly registered broker at settlement.

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Auction Items For Sale

ATTENTION PROSPECTIVE BIDDER: Due to the Coronavirus threat, this is now a timed, ONLINE ONLY auction. There will be NO live ballroom auction for these properties. Please see bidder registration instructions at the bottom of this description for more information.

Development parcels from the Hild Manchester Real Estate Portfolio Auction. Bid on one, a few or all!

Less than two miles to Virginia Commonwealth University and one mile from the Pamunkey Indian Tribe’s proposed $350 Million resort/casino.


Entirety Offering of all 13 parcels, totaling +/-1.64 acres and newly up-zoned to TOD-1 and B-7, permitting up to 12 story construction by right. Ideal multifamily and mixed use development site with quick access to VCU via the Lee Bridge.

Please note the city GIS maps do not accurately reflect the alley right of ways. The survey included in PIP reflects that the city has vacated the alley section that runs parallel to West 19th and 20th Streets, between the West 19th and West 20th lots. This dramatically enhances developability!

Features Include:

  • Zoning: Entire site recently up-zoned to B-7 and TOD-1. B-7 is intended to facilitate urban, infill mixed use development, allowing up to 5 stories with uses including multifamily, office and retail, among others. TOD-1 allows high density multifamily and mixed use with up to 12 stories of construction by right.
  • Frontage and access on Hull, Bainbridge, W. 19th and W. 20th Streets
  • The high rises constructed on this site will have the superior views of the city
  • Across W. 20th Street from impending development epicenter, the midcentury modern “Siegel’s Food Palace” site
  • Opportunity Zone

 

Address Parcel ID # Acreage    Tax Assess Annual Tax 16 West 19th St S000-0295-016    .1031+/- $16,000.00 $192.00 18 West 19th St S000-0295-015 .1031+/- $16,000.00 $192.00 20 West 19th St S000-0295-014 .1399+/- $19,000.00 $228.00 9 West 20th St S000-0295-031 .1498+/- $23,000.00 $276.00 13 West 20th St S000-0295-033 .1419+/- $22,000.00 $264.00 17 West 20th St S000-0295-035 .0614+/- $10,000.00 $120.00 19 West 20th St S000-0295-036 .0653+/- $11,000.00 $132.00 21 West 20th St S000-0295-037 .1219+/- $19,000.00 $228.00 1917 Hull St S000-0295-020 .4285+/- $274,000.00 $3,288.00 12 West 19th St S000-0295-018 .1032+/- $16,000.00 $192.00 1900 Bainbridge St S000-0295-012 .0577+/- $7,000.00 $84.00 22 West 19th St S000-0295-013 .0708+/- $12,000.00 $144.00 1906 Bainbridge St    S000-0295-009 .0938+/- $15,000.00 $180.00     1.6404+/- $460,000.00  $5,520.00


ORDER OF SALE:
No winning bids will be awarded until all six auctions are concluded. Note the first sale will be of Offering B.

  • 11:00am: FX1946B - .43 Ac Multifam Dev Parcel, 12 Stories By Right, Manchester
  • 11:30am: FX1946A - .9 AC Manchester Multifam Dev Assemblage: 5 Stories by Right
  • 12:00pm: FX1946C - Single Manchester Multifam Lot, 12 Stories By Right
  • 12:30pm: FX1946D - Corner Manchester Multifamily Dev Parcel: 5 Stories By Right
  • 1:00pm:  FX1946E - Single Manchester Multifamily Lot, 5 Stories by Right
  • 3:00pm:  FX1946F - Entirety Offering


In order to register to bid online:

  1. Go to an individual property listing page via the links in the description above.
  2. Click the LOG IN / REGISTER TO BID button in the blue box above description.
  3. If you already have a Tranzon account but are not signed in, log in with your email address and password. If not, select the “Sign Up” link at the top of the window. On the following page, completely fill in the required fields and select the green SUBSCRIBE button at the bottom.
  4. Once logged in, after selecting the REGISTER TO BID button in the blue box on the property listing, Step 1 of the bidder registration is to verify or change your information, check the box to certify you are 18 years of age or older and click the CONTINUE button.
  5. Step 2: Read the Terms & Conditions and then check the box acknowledging you have read and understood the terms. Digitally sign your name in the box at the bottom and click the AGREE AND CONTINUE button.
  6. Step 3: Enter your credit card information. This area of the site is secure. Completely fill in the required fields, verify all information is correct and click the CONTINUE button.
  7. You may register at any time until the date bidding closes, but we recommend not waiting until the last day in the event you experience technical difficulties. You are only required to register once. Registering for any FX1946 or FX1949 offering allows you to bid on all of these nine offerings.



Please be sure to download the Property Information Package by clicking on the words under “Documents to Download.” By downloading this package you will alert Tranzon Fox to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction.