The build-to-rent community will have 525 residences with a mix of apartments, townhomes, and detached homes.
KTGY and Greystar have started the construction of Old Ivy, a large build-to-rent community in Charlottesville, Virginia. The 35.37-acre development has close proximity to the University of Virginia’s Darden School of Business and will offer a mix of rental housing from apartments and townhomes to detached residences.
“While not specifically designed as student or faculty housing, Old Ivy’s proximity to the University of Virginia Darden School of Business provides its main target market,” says Benjamin Kasdan, FAIA, LEED AP, NCARB, a principal based in KTGY’s Washington, D.C., office.
For a total of 525 residences, Old Ivy will have 336 one- to three-bedroom floor plans and 189 three-bedroom standalone homes and townhomes. The detached and townhomes will offer green spaces or parklets with some providing surface parking and others one-car garages.
“Old Ivy provides a diverse mix of building and unit types—from stacked flats to townhomes, to single-family detached—that will appeal to a diverse mix of potential tenants in various stages of life and with varying lifestyles,” Kasdan adds. “Many of the most vibrant neighborhoods historically also contain a mix of housing types, and a build-for-rent community like Old Ivy builds upon that strategy.”
The community will also include two amenity buildings with pools, a leasing center, parks, open space, playgrounds, and 787 on-site parking spaces. To promote connectivity and wellness, Old Ivy will have trails that also tie to the 20-mile rustic Rivanna Trail, which connects six parks throughout the community.
