The Daily Dig
Bonaventure broke ground on Attain at Swift Creek, a 344-unit Class A multifamily project in Chesterfield County, Virginia. At $93.3 million, it's the largest development in the firm's 26-year history.
The site sits at 6805 Greenyard Road in the Swift Creek submarket, next to Kroger-anchored retail on a major county corridor.
KBS, Inc. is general contractor. RBA Architects handled design, and Timmons Group is the civil engineer.
Financing Front
The project runs on a $79.9 million, 40-year fixed-rate HUD Section 221(d)(4) loan originated by Walker & Dunlop, the largest HUD loan Bonaventure has closed to date. It covers construction and permanent financing in a single execution.
Bonaventure is carrying the project on its own balance sheet during construction. The firm is still lining up a long-term equity partner.
Locking in fully amortizing HUD financing before breaking ground isn't how most merchant-build developers operate. Bonaventure president Chris Cobb summed up the approach: "The best financing for a long-term owner is the kind that rewards patience - fixed rate, long duration, in place from day one."
Getting there took years. Bonaventure rezoned 31 acres in October 2023, secured site plan approval in September 2025, and closed on the land alongside HUD Initial Endorsement in June 2026.
Third Attain, Not the Last
This is Bonaventure's third Attain groundbreaking of 2026. It joins Attain at Greenbrier in Chesapeake and Attain at Newtown in Norfolk.
Combined, the three projects will deliver nearly 950 units. Total investment across all three comes to $246.2 million.
Units at Swift Creek will run 1-, 2-, and 3-bedroom layouts, averaging 1,058 square feet. First deliveries are expected in early 2028. A property management partner has not been named yet.
Snapshot:
Project Name: Attain at Swift Creek
Developer/Owner: Bonaventure
General Contractor: KBS, Inc.
Architect: RBA Architects
Civil Engineer: Timmons Group
Lender: Walker & Dunlop (HUD Section 221(d)(4) loan originator)
Location: 6805 Greenyard Road, Chesterfield County, Virginia (Swift Creek submarket)
Sector: Multifamily, Class A
Unit Count: 344 units
Unit Mix: 1-, 2-, and 3-bedroom, averaging 1,058 square feet
Site Size: 31 acres (rezoned)
Total Project Value: $93.3 million
Loan Amount: $79.9 million (Bonaventure's largest HUD loan to date)
Loan Terms: 40-year, fixed-rate, fully amortizing HUD Section 221(d)(4)
Rezoning Approved: October 2023
Site Plan Approval: September 2025
Land Closing/HUD Initial Endorsement: June 2026
Groundbreaking: August 26, 2026
Expected First Deliveries: Early 2028
Firm Track Record: 26 years
Firm AUM: More than $2.9 billion
Firm Ground-Up Development Total: More than $1.3 billion
Firm Principal Investment Alongside Clients: More than $600 million invested alongside clients
Related Projects: Attain at Greenbrier (Chesapeake), Attain at Newtown (Norfolk)
Combined Attain 2026 Portfolio: Nearly 950 units, $246.2 million combined investment
TheJobWalk Thoughts
A 40-year fully amortizing HUD loan closed pre-groundbreaking replaces the usual construction-to-permanent refinance with one locked execution. That's a different risk profile than a bridge loan betting on future rates.
Three Attain groundbreakings in one year is a pattern. GCs and suppliers on the I-95 and I-64 corridors should treat Bonaventure as a repeat client worth reaching now.
This deal ran a multi-year predevelopment clock: rezoning in 2023, approval in 2025, closing in 2026. The next Attain groundbreaking is likely already moving through that same pipeline.
A rendering of the Attain at Swift Creek multifamily community.
A rendering of the Attain at Swift Creek multifamily community.
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