Apartment boom signals Boulevard revitalization

Posted at 7:54 AM, Mar 29, 2013
and last updated 2013-03-29 07:54:11-04

RICHMOND, VA (WTVR) -- The Boulevard in Richmond is seeing an economic boom. Between new businesses, apartments, and the Redskins training camp revitalization is evident in the area.

"I think it is definitely up and coming," Beth Beasley, a leasing manager in the area, said.

Beasley manages the 3600 Centre Building on Broad Street near The Boulevard. That building was recently purchased for $4.5 million and is in the process of converting 191 units into luxury apartments.

"We think it is a great area, it is very close to the highway," Beasley added.

Last Wednesday, the Old Interbake Cookie Factory began its renovation which will include a demolition.

Steve Papoulakos has owned The Flower Market on the Boulevard for over 17 years.

"When we moved in most of the buildings were vacant, abandoned," Papoulokas said.

Papoulokas credits the city for fixing up the area with road and sidewalk projects however he said the "lack of parking situation" must be addressed.

"Parking is an issue and will continue to be an issue," Papoulokas added.

City Council President Charles Samuels estimates over 1000 new apartment units will be built in the area within the next five years.