Middleburg and Lingerfelt Announce Closing of 390-Unit Class A Development in the Richmond MSA

Project marks Middleburg's fifth development in the market since 2023

VIENNA, Va. & RICHMOND, Va.--(BUSINESS WIRE)--Middleburg and Lingerfelt today announced their plans to develop a 390-unit Class A multifamily community in Chesterfield County, Virginia – the fastest-growing county in the state and part of the Richmond MSA. Silas at West Hundred marks Middleburg’s fifth ground-up development in the Richmond area since 2023. Construction on the project is scheduled to begin in April 2026, with initial unit deliveries anticipated in October 2027. Financing was provided by M&T Bank.

“Chesterfield County has some of the strongest demand fundamentals in the Richmond MSA, and this project will deliver much needed, well-constructed housing in one of the most active employment corridors in the region,” said Ross Macdonald, Principal of Strategic Investments at Middleburg. “Lingerfelt’s institutional knowledge of the area combined with our vertically integrated platform will allow us to maximize efficiencies and cost savings without sacrificing on quality. We look forward to commencing construction and providing renters with an amenity-rich community in this rapidly growing market.”

Chesterfield County has added more than 30,000 residents since 2020, recording one of the largest population increases in Virginia over that period. That growth has outpaced housing supply, producing a rental premium of 5.3% relative to the broader Richmond MSA and a new development pipeline that remains limited.

The site is located four miles from Meadowville Technology Park – a 1,262-acre employment hub home to Amazon, Niagara Bottling, and Digital Fortress – and adjacent to The LEGO Group's 1.7 million-square-foot manufacturing facility currently under construction, which is expected to create more than 1,700 jobs in the region. The site's proximity to I-95 provides residents with a 15-minute commute to Downtown Richmond.

“This community is the product of years of work by our team – from sourcing the site and securing the rezoning to obtaining site plan approval and completing the building design,” said John Mason, Managing Director of Development at Lingerfelt. “We are pleased to close alongside Middleburg in a partnership that combines our joint expertise and commitment to delivering a high-quality community in one of the region's strongest growth corridors.”

Silas at West Hundred will comprise 11 three-story, wood-frame apartment buildings across 17 acres, with a freestanding clubhouse, resort-style pool, fitness center, dog park and pet spa, outdoor fireplaces and grilling stations. Units will feature quartz countertops, stainless steel appliances, wood-inspired plank flooring, private balconies or patios, and in-unit washer and dryer. The project was fully designed prior to closing by Poole + Poole Architecture.

Middleburg continues to pursue partnerships with regional developers who bring market expertise, a track record of execution and the potential for repeat business.

About Middleburg
Middleburg is a vertically integrated real estate investment, development, and construction firm operating in the highest growth markets across the United States. Since 2004, the firm has completed more than $4.5 billion in transactions and delivered over 32,000 homes across nine states. Headquartered in Vienna, Virginia, Middleburg operates through four integrated companies and has achieved a 30%+ realized IRR across multiple market cycles. For more information, please visit www.middleburg.com.

About Lingerfelt
Lingerfelt, headquartered in Richmond, Virginia, is a vertically integrated real estate investment management firm with a legacy dating back to 1957. Across three generations, Lingerfelt and its predecessor entities have built, acquired, and managed nearly 20 million square feet of commercial real estate valued at more than $3 billion across the eastern United States. For more information, please visit www.lingerfelt.co.