Helios Apartments in Richmond balances affordability with environmental model

Multifamily Development of the Year for Richmond, Virginia

By David Holtzman, Chloe Colvin

A new 186-apartment development on Richmond, Virginia’s Northside was planned with the intent of showing that affordable rents and eco-conscious development can coexist.

Helios Apartments at 5701 Chamberlayne Road, completed last year, is an all-electric, solar-powered project of Spy Rock Real Estate Group and Crescent Development, both based in Richmond. To live there, residents can’t have household incomes that exceed $68,100, for a family of four, or $47,700 for one person, according to the Helios website.

Helios’ design for the apartments prioritized abundant natural light and efficient unit layouts. The building includes common spaces for residents to gather, including safe places for children and families.

To overcome the costs of solar power, the developers paired all-electric systems with highly efficient building technology that conserves energy. They see their project as a replicable model for future affordable multifamily neighborhoods.

For its earth-friendly design and affordability, a group of local industry professionals awarded Helios a 2026 CoStar Impact Award.

What the judges said: “A new development on Chamberlayne breathes new life into a corridor that for years has been ignored,” said Tom Rosman, senior broker at One South Commercial in Richmond.

They made it happen: Andrew Basham and Taylor Williams, principals and co-founders with Spy Rock Real Estate Group; Zac Frederick, chief executive officer of Crescent Development; Michael Poole, chief executive officer of Poole & Poole Architecture; Chris Page, president at Commonwealth Power; and lender Bank of America were involved in the development.