On April 16, Bonaventure celebrated the opening of a new multifamily community on the former Sears lot at Fredericksburg’s Spotsylvania Towne Center Mall. The project broke ground in April 2022 and was completed on schedule. The project is expected to create over $1.15 million in tax revenues and has 271 rental units.
Bonaventure press release: Bonaventure, an integrated alternative asset manager focused on the development, construction and property management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, hosted the grand opening of Attain at Towne Centre – a 271-unit Class A multifamily community that replaced the former Sears anchor at Spotsylvania Towne Centre mall in Fredericksburg, Virginia. The community, which broke ground in April of 2022 and delivered on-time, is part of a bigger revitalization effort for the mall and brings a high-quality rental housing option to Fredericksburg’s growing population.
“This project was truly exceptional because we had the opportunity to partner with Cafaro Properties to help densify Fredericksburg’s premier retail center and ensure it has the supporting foot traffic and patronage from new residents who will add to the live, work and play experience of the property,” said Dwight Dunton, founder and CEO of Bonaventure. “We’re proud to deliver an in-demand rental housing option that will complement the mall’s tenants to make Spotsylvania Towne Center an in-demand destination for years to come.”
Prior to the ground breaking, an impact study estimated the project would have significant economic impact throughout Fredericksburg, creating more than 380 construction-related jobs and generating more than $1.15 million in real estate and other tax revenues.
Attain at Spotsylvania Town Centre opens with upscale interior design and state-of-the-art appliances and resort-style amenities, including a resort-style pool with deck, an artificial turf recreational area, cabanas and an outdoor kitchen and more. With Spotsylvania Towne Centre being Fredericksburg’s major retail hub, the new community is centrally located and proximate to all major transportation routes and the mall’s exciting tenant mix.
About Bonaventure
Headquartered in Alexandria, Virginia, Bonaventure is an integrated alternative asset management firm focused on the investment, development, construction and management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions. Bonaventure has over $2.3 billion of assets under management, is an expert at utilizing low-cost financing, and manages over 7,500 apartment units across 38 communities primarily in the Mid-Atlantic and Southeastern regions. Since its founding in 1999 by Dwight Dunton, with the intent to create best-in-class capabilities connecting capital to assets, the focus of the firm has been to generate excess returns on a risk-adjusted basis while building enduring value through ingenuity. To learn more, visit www.bonaventure.com.
Kelly Sienkowski is a freelance reporter for Potomac Local News.
