realestate

Ten‑unit infill project emerges on ex‑Cowardin estate, Chimborazo

After 15 years and flipping ~200 properties, finding good flips is tough—most are gone—so I'm now focusing on new builds.

T
he 10‑unit infill on 36th and O Streets in Richmond’s Chimborazo neighborhood now stands complete. Four townhome pairs flank two detached houses, all of which have already sold. (Jonathan Spiers photos)

    Keith Carter, a former house flipper turned builder, finished this project with his company K.C. Enterprises of VA. The development occupies the 900 block of North 36th Street, just north of the Bacon Retirement Community and Bill Robinson Park. Carter bought the two former lots in 2022, demolished the existing homes—one of which was in severe disrepair—and replaced them with ten new residences.

    The larger of the original houses was once owned by the Cowardin family, famous for the 150‑year‑old Cowardin’s Jewelers. William Lewis Cowardin originally held the land, and his son Samuel Pleasants Cowardin, half‑brother to the jeweler’s founder, built 17 homes in the area, including the 901 N. 36th Street property. The neighborhood was historically known as Eastview and later Cowardin’s Addition before annexation.

    Carter discovered the site while buying a watch at the Cowardin’s store on Willow Lawn. “I had never been on that street,” he recalled. Conversations at the shop led him to investigate the property, and he eventually purchased the two lots for $550,000 from members of the Lewis family, who had owned them since the 1990s.

    After the 2007–2009 market crash, Carter shifted from flipping to new construction and infill projects. “Finding good flips has become hard,” he said. “I started looking for empty lots or properties that could be torn down.”

    For the 36th Street development, Carter partnered with River Mill Development’s Nick Medlin, who designed three floorplans. The townhomes range from 2,000 to 2,300 square feet, offering three or four bedrooms, 2½–3½ bathrooms, an office, and a detached garage. Prices sit in the upper $500,000s, with at least one unit already under contract. The two detached homes at each end sold earlier this year for $660,000 and $675,000. Ernie Chamberlain and Matt Jarreau of Hometown Realty team George RVA co‑list the properties.

    Garages are a key selling point, especially in Church Hill where they are scarce. The 901 home retains a two‑car garage from the former house; the others have single garages. “That’s a big deal in Church Hill,” Carter noted.

    The homes feature smart technology, remote management, quartz countertops with pop‑up outlets and phone chargers, gas stoves, water tanks, and dual‑fuel heating that switches to gas below 40°F. Exterior finishes use SmartSide wooden siding.

    Carter estimated the total project cost at $5.5 million, which includes a sewer line extension required for nine of the homes. Although he expected the lots to be served by a street sewer, the neighboring properties use a rear alley line, forcing a costly under‑road extension. “It was mind‑blowing,” he said, adding he won’t make that assumption again.

    This infill is part of a broader wave of new construction in Church Hill. Nearby, Walid Daniel and Bill Pangburn completed the first of eight townhomes on North 33rd Street, replacing a row of condemned apartments. Daniel said the remaining units will be finished by Kyle Hoffer’s Watchtower Homes and Construction, which also built four homes at 33rd and P Street. Further west, Daniil Kleyman’s Evolve Development is building nine townhomes beside The Roosevelt restaurant and Bowler Retirement Community.

Ten‑unit infill project emerges on ex‑Cowardin estate in Chimborazo.