HENRICO, VA (WWBT) - A local investment firm is planning to invest $8.7 million in the West Broad Village development to help jump start the completion of the project.
E/Class MB Partners Fund I will now oversee the planning, financing, leasing, construction, property management and marketing of the project's residential and commercial properties.
With about 130,000 square feet of retail space still available, the development seemed to stall out with anchor stores leaving and lawsuits being filed by interested parties.
E/Class said the project's developer Unicorp National Developments has agreed to the deal.
They plan for construction to start up again next month focusing on walking trails, the club house for residents and a buffer along Three Chopt Road.
West Broad Village is located off of Broad Street near Interstate 64 in Short Pump.