A one-acre surface parking lot at 212 N. 18th St. in Shockoe Bottom now has a likely future as an eight-story apartment building. Richmond’s Department of Housing and Community Development announced on Thursday, 1 October 2026, that it picked a plan from local developer Historic Housing as its top proposal for the city-owned site, according to reporting by Mike Platania at Richmond BizSense. Nothing is final yet. A development agreement still has to be negotiated and City Council has the last word.
What the city picked
Historic Housing’s proposal is called Seabrook. Per BizSense, it is an eight-story, mixed-income building with 190 apartments, and at least 57 of those units would be offered to residents earning up to 80 percent of the area median income. The cost is estimated at $40 million to $45 million, and the proposal is entirely privately financed. The design was trimmed from an earlier version of 210 units, and it still includes more than 200 structured parking spaces, a pool and a rooftop terrace.
The firm’s in-house companies would handle design (SWA Architects), construction (SWA Construction) and property management (Main Street Realty), the article says.
How it beat two out-of-town finalists
The city declared the lot surplus in 2024 and issued a request for proposals for an affordable housing development last fall. Eight teams responded, and three were named finalists over the summer. The other two were The Richman Group, from New England, and Jair Lynch Real Estate Partners, from Washington. Both proposed five-story buildings, with 82 and 135 units respectively.
The three finalists, as reported by BizSense
| Team | Height | Units | Financing noted |
|---|---|---|---|
| Historic Housing (Seabrook) | 8 stories | 190 | Entirely private, $40M to $45M |
| Jair Lynch Real Estate Partners | 5 stories | 135 | No financing details in proposal |
| The Richman Group | 5 stories | 82 | Sought nearly $4M in incentives |
Source: Richmond BizSense, 1 October 2026. This is a summary of one news report, not a Mission Realty data series.
The city’s announcement cited financial feasibility, the developers’ experience in the market and the design as reasons. BizSense also notes that Historic Housing had the clearest financing structure of the three.
What happens next
The city and Historic Housing begin negotiating a development agreement. After that, the matter goes to City Council for final approval. The city said it expects to bring an ordinance to council in the coming months and that construction could begin as soon as August 2027. Council President Cynthia Newbille, whose 7th District includes the site, said in a statement that the project could serve as an anchor for Shockoe. Readers commenting on the BizSense story are already debating how affordable the 80 percent threshold really is and how the building will look.
The city’s Department of Housing and Community Development ran the process. It is also the office to watch for the next surplus-land solicitation: BizSense reports that an earlier RFP for 911-913 Hull St. in Manchester drew no bids and that the department plans to rethink its approach for that site.
Our read on the block
This lot sits next door to The Bakery, a 12-story apartment building that Historic Housing finished last year, and Salomonsky said he hopes Seabrook starts more investment in the Bottom. For a buyer or owner nearby, three things are worth tracking, none of them a price prediction:
- Timeline. Council approval is still ahead and construction is targeted no sooner than August 2027, so any change to the street is a long way off.
- Housing mix. This is rental supply, not for-sale product. It adds to the apartment cluster around Shockoe, and we have followed other city-land and downtown apartment stories, including the Q Street surplus-site proposal near Chamberlayne and the Altitude on Main apartments downtown.
- Parking. The plan calls for more than 200 structured spaces. The reporting does not say how the garage would operate or who could use it.
If you are comparing nearby pockets, Shockoe Slip is the neighboring part of the Bottom, and we covered the Turning Basin building sale in Shockoe Slip earlier this year. Church Hill and Manchester are other in-city neighborhoods to compare, and the full list is on our City of Richmond hub.
Looking at homes near the river?
See what is on the market right now in and around Shockoe Bottom with our live home search.
Details in this story come from the Richmond BizSense report and the city’s announcement as described there. Plans can change before council votes, and we will not treat the unit counts or schedule as settled until a development agreement is public.
Questions about the Shockoe Bottom apartment plan
Is the Seabrook apartment project approved?
Not yet. The city chose Historic Housing’s plan as its top proposal. The city and the developer now negotiate a development agreement, and then City Council must approve it. The city said it expects to bring an ordinance to council in the coming months.
How many apartments are planned and how many are income-restricted?
The current design has 190 apartments, down from 210 in an earlier version. At least 57 would be available to residents earning up to 80 percent of the area median income, per BizSense.
When could construction start?
The city said construction could begin as soon as August 2027, assuming the agreement and council approval go through.
Who are the developers and who else bid?
Historic Housing is a longtime Richmond firm led by managing partners Daniel Salomonsky, Brian White and David White. The other finalists were The Richman Group of New England and Jair Lynch Real Estate Partners of Washington. Eight teams responded to the original request for proposals.
Will the project use city money?
BizSense reports Seabrook would cost $40 million to $45 million and be entirely privately financed. The Richman Group’s proposal had sought nearly $4 million in incentives.
What amenities and parking are included?
The plan lists more than 200 structured parking spaces, a pool and a rooftop terrace, among other amenities.
What happened with the Hull Street lot in Manchester?
The city issued a 2024 request for proposals for 911-913 Hull St. A city official told a council committee earlier this year that it received no bids, and the housing department would rethink how it solicits proposals for that site.
