The Prestwould Condos For Sale
Located adjacent to VCU’s campus and overlooking Monroe Park, the Prestwould Condominiums represents one of the older (and earliest) entrants to the Richmond Condo market. Built in 1927, the property, especially in the common areas, still carries the classically grand feeling common in the era.
Pricing in the Prestwould can vary greatly based on the level of interior renovation, floor and view. Additionally, the dues structure includes many utilities meaning that the monthly obligation for its residents is significantly higher than other projects. As condo mortgage finance includes dues, regardless of the inclusions, into qualification ratios, it takes additional income to qualify to own a unit at the Prestwould when compared to other projects where utilities are billed directly to the owners.
As VCU’s influence grows and their footprint expands, the project’s location directly in the center of campus can be both a positive and negative. While such a strategic location offers great stability, owners not related to the University must make peace with the prevalence of the collegiate surroundings.