RICHMOND, Va. — Matt Jarreau knows a deal when he sees one – and he seems to have an eye lately for triangles.
As part of his bid to move more into larger developments, the local real estate agent and broker with Hometown Realty is working on plans for about $9 million of mixed-use projects to take shape on triangular lots in Church Hill.
His plan began in 2009, when he purchased the 0.06-acre parcel at 718 N. 23rd St. for $15,000, along with an adjoining parcel at 726 N. 23rd St. A year later, Jarreau purchased a small residential lot across the street at 720 Jessamine St. for $14,000.
He saw something in the triangular plot, but at the time didn’t know what it could become. It was a textbook play in buy low and wait.
Then came the redo of the building that now houses Metzger Bar & Butchery, a now-popular restaurant that sits a stone’s throw of his North 23rd Street properties.