Aging OIffice Parks Embrace Multifamily

4/9/21

Michael Campbell, president of Dominion Realty Partners, plans to add 215 units at Boulders Lakeside Apartments. Photo by Matthew R.O. Brown

A weekday lunch hour is relatively quiet on the grounds of the Boulders office park, south of Richmond, except for a few people chatting during a walk around a lake and the honking of two geese skimming the water.

Overlooking that lake are gray and white apartments recently built from scratch on vacant land — 250 units at 50% occupancy. A phase-two build of 215 units will start in the spring, says Michael Campbell, president of Dominion Realty Partners, developer of Boulders Lakeside Apartments.

Built in the 1980s, the Boulders is one of Chesterfield County’s more mature mixed-use office parks. Woodsy but close to plenty of retail and traffic, it’s a 15-minute drive from the Virginia State Capitol.

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