PRESS RELEASE: Hirschler Fleischer Team Represents Private Equity Group in Roanoke Riverfront Investment

RICHMOND, VA – Hirschler Fleischer is pleased to announce its representation of RRI Apartments I, LLC in its recent purchase of a mixed-use property in downtown Roanoke, Va. The transaction closed on July 31, and includes a 157-unit apartment building and 28,230 square feet of commercial space. This is the first phase of what will eventually become a 22-acre mixed-use project known as “The Bridges.” The Hirschler Fleischer attorneys involved in the transaction include M. Ryan Jenness, Lisa J. Hedrick, C. Brandon Spalding, Jr. and Anita G. Vaughn.

“While this project will take several years to be completed, it promises to transform the city’s waterfront, providing residential and commercial opportunities to complement the area’s growing population of students and health care providers,” said Jenness, a partner and member of the commercial real estate practice at Hirschler Fleischer. “The development is reflective of a nationwide uptick in interest of properties that combine multifamily residential components with commercial uses such as retail stores, restaurants and offices. Based on the popularity of these ‘live/work/play’ models across Virginia, we believe The Bridges will be influential in the growth of downtown Roanoke as an up-and-coming district.”

The Bridges is located adjacent to the Virginia Tech Carilion School of Medicine and Research Institute and Carilion Roanoke Memorial Hospital, along the banks of the Roanoke River. Upon completion, the development will include 260,000 square feet of residential space and 368,000 square feet of commercial space.

Hirschler Fleischer is a multispecialty law firm engaged in a diverse and sophisticated legal practice. Hirschler Fleischer attorneys serve corporate, governmental, nonprofit and individual clients throughout the United States from offices in Richmond and Fredericksburg, Va. The firm approaches legal work with an entrepreneurial spirit and deep commitment to the community.