Drucker + Falk Awarded Management Contract for New Mixed-Use Development in Richmond

Drucker + Falk Awarded Management Contract for New Mixed-Use Development in Richmond

RICHMOND, VA - DF Multifamily, a division of Drucker + Falk, has been appointed by Richmond-based Lynx Ventures to provide property management services for the residences at The Current - a vibrant, Class A mixed-use Opportunity Zone development delivering in 2020 to Richmond's Manchester neighborhood.

The property will include 215 apartments; a 60,000 SF office building; 16,000 SF restaurant and retail space; and a 323-stall public parking garage with 25 electric vehicle charging stations. Designed to encourage interaction, The Current features a landscaped public courtyard and outdoor dining, as well as multiple shared workspaces, lounges, a dog park, and a roof terrace with exceptional Downtown and river views for residents.

Located along 4th and Hull Streets and a three-minute walk from the James River, the 215 rental residences currently under construction will span five stories above 8,000 square feet of ground-level commercial space. The floor plans, which include open-concept studio, one, and two-bedroom layouts, seek to create a modern, comfortable urban retreat with over-the-top amenities designed to check every box for future residents. The building’s infinity-edge pool, dog park, entertainment kitchen, and both indoor and outdoor lounges allow residents to socialize in style.

“The intention behind the development of The Current is about more than just providing apartments and new commercial and retail space. Drucker + Falk understands Lynx Venture’s vision to ignite the neighborhood with jobs, culture, and a buzz of activity,” said Wendy Drucker, Managing Director of Drucker + Falk. “We are excited about the role we will play in creating amazing living experiences and fostering a sense of community for our new residents.”

A Virginia-based company since 1938, Drucker + Falk has deep roots in Richmond. This most recent management assignment will expand the Drucker + Falk management portfolio to 37,000 apartments, almost 6,000 of which are in the Richmond area. 

“Drucker + Falk’s decades of experience with successful property management and deep familiarity with the Richmond market made them the perfect partner for this project,” said Kate Hosko, Lynx Ventures’ Development Manager overseeing components of The Current. “We have every confidence that their management style and proven ability to provide best-in-class services and experiences for residents will help us to create the distinctive and holistic lifestyle The Current promises.” 

The Current’s 60,000 SF of office space and 16,000 square feet of restaurant and retail space spanning the project will be managed by Highwoods Properties, headquartered in Raleigh, NC.

Source: Drucker + Falk

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