WPM manages nearly 25,000 homes in the Mid-Atlantic region, so there’s always exciting news to report about our people and properties.
WPM Begins Management of Model Tobacco Lofts in Richmond, Virginia
On August 1, 2023, WPM Real Estate Management took over management for the Model Tobacco Lofts, a 203-unit luxury apartment community in Richmond, Virginia. Located on Richmond's Southside in the Manchester sub-market, the property is less than five miles from the central downtown business district and close to retail as well as within five miles of multiple parks, including James River Parks, Richmond Canal, and Forest Hill Park.
Originally built between 1938-1940, the Art Deco-style Model Tobacco Building served as a former tobacco factory and headquarters for the United States Tobacco Co. until the mid-1980s. Redevelopment of the property as an adaptive reuse project began in 2020, transforming the main six-story building into spacious one-, two- and three-bedroom apartment homes with modern features and amenities.
"WPM has a track record of working with owners to successfully manage historic and adaptive reuse properties," says Melissa Gambuto, WPM President of Multifamily Real Estate. "We're pleased to welcome Model Tobacco Lofts and its residents to the WPM multifamily portfolio in the MidSouth region. It is a vibrant community blending the historic and modern and creating luxury living with world-class amenities."
This pet-friendly community welcomed its first residents in June of 2022. It comprises the main six-story apartment building and a second that houses best-in-market amenities. These include a clubhouse and fitness center, spin room with Peloton bikes, a rock-climbing wall, yoga studio, arcade, movie theater, rooftop lounge, resort-style pool, grill areas, firepits, along with a conference room, study area, onsite storage, pet park, pet spa, and bike storage. For leasing information visit https://www.modeltobacco.com/.