Anyone who has looked for a one-bedroom apartment to rent near VCU or in the vicinity of Richmond’s Arts District discovers this reality: one bedroom apartments are expensive and in short supply. Why is that? The short answer is supply versus demand. But if there’s such high demand, why haven’t owners like University Property (and developers) responded to the market and added more one-bedroom apartments? Well, they have been adding them, but just not fast enough to keep up with faster growing demand.
One of the main reasons it's difficult to satisfy this demand is that the configurations of the street blocks and lot depths in Richmond combined with historic preservation objectives make it difficult to renovate historic buildings and create multiple one-bedroom units. The good news is that at University Property we have multiple one-bedroom options for our customers! Most of them are in a shared common area format, but they come individually leased and keyed, with utilities included, and with free high-speed internet. These are perfect for residents who want their own space at a reasonable price, but don’t mind sharing a kitchen, washer/dryer, etc. with others. We have one-bedroom options available starting in January at four of our properties, and two are already available. Check them out at: https://www.university-property.com/available-properties