Formed in 1978 and headquartered in Norfolk Virginia, Frye Properties, Inc. provides real estate development, property management and construction services. The company has acquired and rehabilitated more than 5,000 units in 22 multifamily complexes in the Southeast. Over the past five years, Frye Properties, Inc. has focused on a complete revamping of its properties in Virginia, North Carolina, South Carolina and Georgia. The most significant of these projects include the $20 million reconstruction of the 434-unit Mariners Watch complex in Norfolk Virginia and the $15 million rebuilding and additional new construction of the 682-bed River Walk student housing complex in Greensboro North Carolina. The company’s current multifamily portfolio includes more than 3,400 housing units located in Virginia, North Carolina, South Carolina, and Georgia, including two student housing developments in Charlottesville Virginia, and Greensboro North Carolina.

Recent Developments

EAST BEACH — Norfolk, Virginia
Situated on 100 acres along the Chesapeake Bay, this $450 million New Urbanist community is based on a master plan developed by Duany Plater-Zyberk & Company. It features 700 residences, neighborhood restaurants, boutique retail and offices, as well as the signature Bay Front Club. All homes are crafted by a select group of builders in the East Beach Guild in accordance with the East Beach Pattern Book prepared by Urban Design Associates.

• 2008 Community of the Year – Tidewater Builders Association
• 2006 Community of the Year – Tidewater Builders Association
• Location of the 2005 Coastal Living Idea House, constructed by Frye Properties, Inc.
• Featured in Coastal Living and US Airways magazines as well as Virginia Living, Hampton Roads, Tidewater Builders, and Professional Builder publications

EAST BEACH VILLAS AT PRETTY LAKE — Norfolk, Virginia
Located within walking distance of the beach and the bayfront greens along the Chesapeake Bay, these exclusive residences are the first condominium home offerings in this acclaimed New Urbanist neighborhood.

• One-, two- and three-bedroom mixed-use luxury condominiums currently under construction
• Exceptional features include: gourmet kitchens, loft space, upscale appliances, hardwood floors, granite counter tops, walk-in showers and ceramic private baths, walk-in closets with washer and dryer, car ports and private balconies overlooking the marinas

THE VILLAS AT SOUTHERN RIDGE — Charlottesville, Virginia
This beautiful hillside property is currently being converted in phases from a 240-unit apartment community to for-sale condominiums. Located less than two miles from the University of Virginia, it offers breathtaking views of the Blue Ridge mountains. Product, visual appearance, pricing, and above all location, make this community an easy sale and an exceptional opportunity for prospective buyers.

• Conversion and renovations include extensive interior and exterior improvements
• New 3,600 square foot community center features a raised hearth fireplace, state-of-the-art fitness center, kitchen for parties, and game room
• Amenities include two tennis courts and children’s playground

THE VILLAS OF OAKWOOD NORTH — Richmond, Virginia
Formerly a 159-unit apartment community, this property is now being converted in phases to for-sale two-bedroom, one-bath condominiums. Product and pricing of this community offer very attractive affordable purchase opportunities for home ownership to prospective buyers in this neighborhood.

• Conversion and renovations include extensive interior and exterior improvements
• Brick condominiums meet new construction standards