Madison Capital Group Secures $17 Million Construction Loan for The James, an 86-Unit Luxury Community in Charlottesville

Charlottesville, Va. (Oct. 4, 2024) — Madison Capital Group has secured a $17 million loan from Longline Holdings, LLC to begin construction on The James, an 86-unit luxury garden-style apartment community in Charlottesville, Va.?

Patterson Real Estate Advisory Group brokered the loan. The James will be developed and managed by Madison Capital Group's affiliate, Madison Communities.

Located strategically on Rio Road near US-29 and Interstate 64, the community will offer a prime location for residents, providing easy access to central Virginia employers, downtown Charlottesville, the University of Virginia and Charlottesville-Albemarle Airport (CHO).

The submarket is known for its strong demographics and consistent demand for high-quality housing. Nearby employment hubs include UVA Health Services, Sentara Healthcare, the U.S. Department of Defense and many other prominent employers.

"We're excited to be underway in Charlottesville, where the demand for upscale living remains robust," said Ryan Hanks , President and CEO of Madison Capital Group. "This financing enables us to bring The James to life, offering a modern and luxurious living experience in a thriving market. With its premium location and array of amenities, we are confident our property will stand out as a top-tier residential community."

The James will feature a variety of luxury amenities, including private outdoor patios and balconies, nine-foot ceilings and stainless steel appliances. The community amenities will include a contemporary clubhouse, state-of-the-art fitness center and cyber lounge and flexible workspaces.

With Charlottesville's rich cultural scene, outdoor recreational opportunities and proximity to the University of Virginia, The James is poised to attract a wide range of professionals, students and medical personnel. The city's strong economic foundation, including a growing defense sector, advanced manufacturing, and a flourishing business environment, makes it an ideal location for new residential developments.

"We are thrilled to partner with Madison Capital Group," said Jeremy Herman Jeremy Herman, Director at Longline Holdings, LLC . "This new collaboration marks an exciting opportunity to support innovative housing solutions in Charlottesville."

About Madison Communities

Madison Communities is an affiliated company of Madison Capital Group, a vertically integrated real estate development and investment firm focused on building high-quality, suburban, garden-style apartment communities throughout the Southeast. For more information, visit livemadisoncommunities.com.