1351 Peach Grove
Harrisonburg, VA 22801

Prime Student Housing Development Opportunity near James Madison University

Property Overview
We are pleased to offer a 5.438-acre parcel of land, rezoned to high-density residential (R-5), ideal for a student housing development. This prime property is strategically located adjacent to James Madison University’s Sentara Park and less than a mile (9/10) from JMU’s main entrance, making it an attractive choice for student accommodations.

Original Project Concept
A previously submitted and city-approved project highlights the development potential:
 - 460 Beds: 24 two-bedroom units and 103 four-bedroom units.
 - Building Design: Six-story structure fronting Peach Grove Avenue and the property’s access road.
 - Parking: 410 on-site spaces.
 - Zoning: R-5 (Residential).
 - Site Plans: Originally approved by the city on August 17, 2020. Updated but requires resubmission.
 - Architectural Drawings: City-approved on September 9, 2020, needing updates and resubmission.
 - Topographical Survey: Completed October 27, 2019.
 - Alta/NSPS Land Title Survey: Conducted February 11, 2021.
 - Phase I Environmental Site Assessment: Clean report dated October 22, 2020.
 - Geotechnical Exploration Report: Completed November 8, 2019.

Investment Highlights
 - Prime Location: Adjacent to JMU’s Sentara Park, ensuring high visibility and accessibility for students.
 - Flexible Development Potential: Leverage existing plans or bring your own high-density residential concept to life.
 - Turnkey Opportunity: Extensive groundwork with zoning, surveys, and environmental clearances in place.

Offering Price: $5,150,000
This exceptional property represents a rare opportunity to deliver high-demand housing for one of Virginia’s premier universities.