The West2nd project team is announcing an update on the vibrant mixed-use complex in downtown Charlottesville, located at 200 2nd Street SW. The project team has grown with the addition of Ironstar Development, LLC., a renowned construction and development firm specializing in high-end multi-use buildings much like West2nd. They bring to West2nd the resources of a full consulting team, as well as the expertise of R2L Architects who are well-versed and experienced with mixed-use design.
Construction costs have risen substantially since the project was first presented in 2014, making the structure, building envelope, and other building systems financially unfeasible as originally designed. Ironstar Development and R2L Architects have identified several opportunities for improvement that make the project financially viable while maintaining the structural integrity and quality of finishes of the original design. Most notably, the addition of 28 residential condominiums allows the fixed cost of land, utilities, excavation, and so forth to be spread over more units, while meeting the high demand for luxury living in downtown Charlottesville as demonstrated by the 50% of residential units under reservation. The project team is also reevaluating major building systems and further studying the utilization of space dedicated to parking, commercial space, and the plaza which will still accommodate the City Market.
Some of these improvements require City approval, a process that is underway. The project team is advancing other aspects of the project in the meantime in order to move forward expeditiously once City approvals are received. The revised plan will shorten the construction period, now set to begin in the summer of 2018 with project delivery mid-2020.
Keith O. Woodard, manager of Market Plaza LLC, stated, “This collaboration will enhance the efficiency of the development and construction processes, adding to the success of West2nd. The project team sees new opportunities for improvement, and the process for City approval has been initiated.”
West2nd is being developed under the direction of Keith O. Woodard, founder of Woodard Properties. Woodard Properties has been serving Charlottesville businesses, students, and the community since 1981, providing UVA student housing, traditional housing, affordable housing, and commercial space to Charlottesville residents, businesses, and numerous nonprofit organizations.