lindley (1)

Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

RSS feed of this blog

Second phase of Haven opens in Fredericksburg

This is a shot from the first phase of the Haven complex in Celebrate Virginia.

The leasing office at the second phase of the Haven apartment complex in Fredericksburg’s Celebrate Virginia South development opened last week, and it will be overseen by the former manager of a rival apartment development in the city.

Johnson Development Associates chose Jennifer Marsh, the former manager of The Apartments at Cobblestone Square downtown, to manage the 250-unit second phase of the Haven at Celebrate Virginia.

Late last year JDA sold the first Haven phase at Celebrate Virginia, which included 232 units and is next to the second phase off Gordon W. Shelton Boulevard, for $39.4 million to Tennessee-based real estate investment trust MAA. That part of the development has since been renamed Seasons at Celebrate Virginia.

Work continues on the second phase, which is expected to be completed this spring.

Johnson Development recently held a grand opening at the company’s 260-unit Haven community next to the Spotsylvania Regional Medical Center. That community is about 60 percent leased, said JDA executive Ben Graves. That’s not as fast as the first phase of the Haven at Celebrate Virginia was leased, but Graves said he is pleased with the performance.

Graves noted that there are now more options in the area for newer, more upscale apartments compared to when the first phase of the Haven opened a couple of years ago.

One of those communities, Cobblestone Square off Lafayette Boulevard, has also seen strong rental results. Home Properties Inc., which owns that complex, plans to hire a replacement for Marsh.

Post tags: