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bout a century old, the former Venus at Manchester on Hull Street was acquired by Tack Capital for $6.9 million. The 68‑unit, income‑restricted complex—now called The Gardens at Manchester—lies next to the Hull Street Library and includes ground‑floor retail. Tack Capital, founded by Tucker Thompson after a decade in private equity, targets Virginia and North Carolina multifamily assets that can be upgraded. Thompson outlined plans to modernize the elevator, replace roof sections, install LED lighting, reopen the fitness center, and host community events.

    The transaction closed on Sept. 10. Northway Equities, the New York‑based seller who had purchased the building four years earlier for $7.1 million, was the previous owner; the city’s latest assessment values the property at $5.6 million. Currently about 90 % of the apartments—each two or three bedrooms—are leased to households earning no more than 60 % of the area median income. Commercial tenants include River City Kung Fu and a vape shop. An 8,000‑sq‑ft storefront remains vacant; Thompson describes it as a “blank canvas” suitable for offices, art studios, retail, fitness, or event use, with One South Commercial handling the listing.

    This deal is Tack Capital’s second acquisition. Earlier in the summer, the firm purchased the 18‑unit 1710 Lofts on E. Franklin Street for $2.9 million. Thompson is optimistic about the Hull Street corridor, citing new restaurants such as Bolo’s Eatery and the upcoming GRTC Pulse North‑South transit line. He notes that while Manchester’s recent growth has centered north of Hull Street and east of Commerce Road, momentum is now shifting southward. The Gardens is diagonally opposite a new 5‑story, 112‑unit development at 1501 Hull Street, where two former buildings were demolished to make way for the project.