Sphere Apartments

About Sphere Apartments

Cushman & Wakefield’s Mid Atlantic Multifamily Group is pleased to offer Sphere Apartments, a newly constructed asset located adjacent to the dynamic Scott’s Addition/Diamond District. Sphere Apartments is squarely in the path of growth within Richmond, positioned between the established Fan District and high growth areas of Scott’s Addition and Downtown Richmond. The Property’s micro location is also seeing significant economic investment with Virginia Union University undergoing a $500MM redevelopment across the street which will continue to increase demand for rental apartments. The asset is in close proximity to the newly awarded Diamond District redevelopment which will bring an additional $2.44 Billion of economic development over the next 13-years fueling additional demand. Sphere Apartments features best-in-class finishes and amenities while also renting at a price point well below area competitors which will allow for outsized rent growth post stabilization. The Richmond MSA is one of the Mid-Atlantic’s best performing economic and apartment markets with fundamentals which greatly outpace other peer markets and primary markets. Sphere Apartments provides investors the ability to acquire a best-in-class asset in a high growth location with additional upside potential in the rents in one of the region’s most dynamic pockets.