A new development is set to transform a 2.95-acre site in Richmond’s Historic Jackson Ward. 

The M Companies recently announced plans for phase two of the Jackson Place project, which will include up to 41 townhomes and a 106-room extended-stay hotel. This development will be located at the intersection of 2nd and Jackson Streets, an area that was affected by the construction of the Richmond-Petersburg Turnpike in the 1950s.

Construction is scheduled to begin in early 2026, with an estimated three-year timeline for completion. The site, which is currently made up of grass lots, is owned by the Richmond Redevelopment and Housing Authority. The project follows feedback gathered from the community through planning sessions led by Urban Design Associates in partnership with the Historic Jackson Ward Association and other local groups.

“In partnership with the Historic Jackson Ward Association and community stakeholders, we detailed a vision for the site that anchors the legacy of 2nd Street and sets Jackson Ward on a path to thrive in the new RVA,” said Michael Hopkins, president of The M Companies.

The townhomes will range from 1,342 to more than 1,800 square feet, with prices starting under $400,000. Premiere Homes RVAJP will construct and sell the homes, while Studio ME will offer three interior design palettes for buyers to choose from.

“Phase one brought much-needed housing for seniors and a mix of market-rate and affordable rental units,” said Janis Allen, Historic Jackson Ward Association president. “We celebrate the growth of homeownership, a key pillar of ourhistoric community’s identity. By combining home-ownership opportunities with an extended-stay hotel, we are enhancing the iconic 2nd Street corridor and fostering local businesses and commerce.”

The M Companies is working with Shamin Hotels to finalize the Plan of Development for the hotel, which is expected later this year. Emerge Construction Group and Thomas Builders will handle construction, with Parrish Point as the civil engineer and Baskervill as the hotel’s architect.

“Baskervill is honored to be contributing to a project that thoughtfully weaves new opportunity into the storied fabric of Jackson Ward,” said Terri Callaway, Baskervill principal. “Our design approach for the hotel offering balances historic character with contemporary comfort, with the goal of reflecting the neighborhood’s architectural legacy.”

Steven Nesmith, CEO of RRHA, emphasized the broader significance of the project.

“This development not only has a significant real estate component aimed at making a substantial dent in the city’s affordable housing crisis, but it will also be a vehicle for meaningful employment opportunities,” he said.