Zoning Change Approved for Virginia Village Office Building
4100 E Arkansas Avenue & 1451 S Ash Street
Earlier this month, the planning board approved a zoning change for the 63,000 square foot office building located at the corner of Arkansas Avenue and Ash Street.
The property, site, spanning 99,356 square feet, currently houses the corporate offices of TGS Global. With more than half of its area dedicated to surface parking lots, it presents significant redevelopment opportunities.
Flywheel, in partnership with ICP Funds, acquired the property for $14,700,000 ($232/sf) in 2022. Given the presence of a large mixed-use development formely owned by CDOT directly across the street, it seems that rezoning was part of the plan from the outset.
The newly established S-MX-5A zoning district will allow for a diverse mix of commercial and residential development up to five stories.
The Planning board granted approval on February 21, with the final City Council hearing scheduled for April 22. This zoning change marks a significant move towards creating a more vibrant and interconnected Virginia Village.
Stay tuned for more updates!
