CHESTER, VA. — Bonaventure has begun construction on Attain at Swift Creek, a $93.3 million multifamily development located at 6805 Greenyard Road in Chester, a southern suburb of Richmond in Chesterfield County. The Alexandria, Va.-based developer obtained a $79.9 million HUD 221(d)(4) construction loan for the project. Walker & Dunlop originated the 40-year, fixed-rate loan on behalf of Bonaventure, which will finance the balance of the development costs via its balance sheet while searching for a long-term equity partner.
Situated on a 31-acre site adjacent to a Kroger Marketplace-anchored shopping center, Attain at Swift Creek will feature a mix of one-, two- and three-bedroom apartments averaging 1,058 square feet in size. The project team includes KBS Inc. (general contractor), RBA Architects and Timmons Group (civil engineer). Bonaventure will name a property manager for the community at a later date.