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Old Richmond hotel transforms to downtown apartments with rent around $1,000

Old Richmond hotel transforms to downtown apartments with rent around $1,000
Posted at 9:31 AM, Nov 25, 2019
and last updated 2019-11-25 09:31:58-05

RICHMOND, Va. — A prolific Washington, D.C.-based developer with a hefty downtown Richmond portfolio is reviving a long-dormant relic in its collection.

Douglas Jemal’s Douglas Development last month launched a $5 million redevelopment of the former Stumpf Hotel building at 728 E. Main St. in the city’s Central Business District, said Cindy King, the company’s Richmond asset manager.

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