Regency, in the midst of a major ongoing redevelopment project that will see the transformation of the mall, has filed for an application to rezone 36 acres to Uban Mixed Use, a designation that will allow high-density residential development.
On Thursday, Thalhimer Realty Partners submitted the application to Henrico County. If approved, Regency’s developers will move forward on their plan to add a residential component to the current mix of commercial and retail uses further transforming the shopping center.
Henrico County uses the Urban Mixed-Use (UMU) zoning classification to promote master-planned developments with a blend of residential, commercial, office uses and open spaces.
Renderings of the planned transformation show portions of the existing indoor mall being removed to expose an outdoor plaza that would be constructed in its place.
“The primary purpose of the zoning request is to create a walkable, vibrant, mixed-use community as part of our reimagining the Regency experience,” said Mark Slusher, Senior Vice President with Thalhimer Realty Partners. “The mall’s redevelopment continues to strengthen the Regency story,” Slusher added.
A well-designed, mixed-use development typically reduces automobile trips, incorporates and preserves unique environmental features, promotes the efficient use of land, provides access to amenities at a local level, creates regional draws for commerce and provides the ability to create unique communities in the county.
In early 2017, Regency received approval from Henrico County to proceed with plans for the redevelopment of the regional shopping center as well as approval of the revised development master plan.
In the fall of 2018, MOD Pizza, Starbucks Coffee, and Chipotle Mexican Grill opened on outparcels adjacent to Quioccasin Road. Panera Bread, on the corner of Parham and Holly Hill Roads has a May 2019 opening date, and BetterMed Urgent Care construction is near completion and scheduled to open next to Panera in the fall of 2019.