Quick Answer
Chesterfield County is moving ahead with a roughly nine-mile, $565 million extension of the Powhite Parkway from its current end near Route 288 to Hull Street Road. Phase one, to Woolridge Road, is planned for completion in 2029, construction is expected to start this winter, and no tolls are planned on the extension. For investors, the project is a long-horizon infrastructure story for the Moseley and Magnolia Green areas. It may improve access, but it does not guarantee higher rents or values, and some owners along the route face eminent domain.
The Project in Brief
Local reporting from Richmond BizSense and WRIC describes the Powhite Parkway extension as a county-led project funded from local, state, and federal sources, with a large share coming from the Central Virginia Transportation Authority. You can read the project summaries in Richmond BizSense and on the 12 On Your Side report. The two sources agree on the big picture but differ on some phase-level cost figures, so this article sticks to the points they share and treats the rest as unsettled.
| Item | What Reporting Describes |
|---|---|
| Length | About nine miles (reported as 9.2 miles in one source) |
| Route | From the current terminus near the Route 288 interchange to Hull Street Road (Route 360) |
| Total cost | $565 million, with funding partly secured |
| Phase one | Extends the parkway to Woolridge Road; completion planned for 2029 |
| Phase two | Continues toward Hull Street Road; still needs funding in part |
| Tolling | None planned on the extension |
| Construction start | Expected this winter, from the end of 2026 into early 2027 |
| Walking and biking | A shared-use path along the extension connecting to Horner Park |
Reporting lists planned access points at Woolridge Road, Genito Road, Duval Road, Magnolia Green Parkway, and Hull Street Road. It describes the surrounding area as including Moseley, the planned Upper Magnolia Green site, and the neighborhood around Horner Park, Grange Hall Elementary, and Richmond Metro Zoo. One report says full completion is anticipated in 2034.
Eminent Domain: What Happened
Richmond BizSense reported on November 2 that the Chesterfield Board of Supervisors approved using eminent domain to acquire right-of-way and easements for the first phase after negotiations with some landowners did not succeed. The county says its budget has enough funds for the condemnation costs. For investors, the takeaway is straightforward: when a public road project is approved, property along the route can be affected, and the process is legal and regulated. Owners are entitled to just compensation under Virginia law, and anyone facing a taking should consult an attorney experienced in eminent domain.
Tenants are affected too. If you own a rental that could be touched by a project like this, our guide on what happens to a lease when a government takes the property explains how leases and tenant rights are handled.
How Roads Can Change a Rental Market
Better roads often change how people choose where to live. A new connection can shorten a commute, make an area feel closer to jobs, and make nearby land more attractive for homes and shops. Consider the ways infrastructure can influence a rental investment:
- Demand. Shorter commute times can widen the pool of tenants willing to rent in an area.
- Development. Road access can unlock new subdivisions, retail, and employers, which add both amenities and competing rental supply.
- Timing. Construction can disrupt nearby streets for years before the benefits arrive.
- Uncertainty. Funding, phasing, and approvals change, so the finished project may differ from today’s plan.
A Practical Framework for Investors
Underwrite Today’s Rent, Not Tomorrow’s Road
The safest rule is to price a deal on the rent the property commands today, using comparable homes. If the road eventually adds value, that is an upside, not a base case. Our guide to Richmond-area neighborhoods to watch offers more on how to separate real momentum from hype.
Check the Phase and the Funding
Not every segment is funded or scheduled equally. Phase one has a firm completion target in 2029, while later work depends on additional funding. Read the county’s current project page before assuming a timeline.
Look at Distance and Access
A property a few blocks from an interchange or a major connection will experience a project differently from one a mile away. Study the map, the planned access points, and the surrounding road network.
Plan for Construction Impact
Noise, detours, and dust affect tenants. If you own near a work zone, communicate with residents, keep the property in good shape, and consider whether a short-term concession makes sense to retain a good tenant.
Watch Related Projects
Large road projects often travel with development. Chesterfield’s proposed Nunnally Village at Hull Street and Otterdale is one nearby example, and our Nunnally Village guide explains how proposed projects and road improvements are linked.
Questions to Ask Before Buying Near a Planned Road
- Is the property inside the planned right-of-way, or could it be affected by easements?
- Which phase of the project is closest, and is it funded?
- When is construction expected to start and finish near this address?
- How will access to the property change during and after construction?
- What do comparable rentals nearby actually rent for today?
- Are there zoning cases or new subdivisions planned nearby that could add rental supply?
- What does the title or survey show about easements?
What Tenants and Owners Can Expect
| Stage | What May Happen |
|---|---|
| Before construction | Property acquisition, utility relocation, and design work |
| During construction | Detours, noise, and equipment traffic in nearby areas |
| After phase one opens | New access and possible shifts in commute patterns |
| Later phases | Additional connections toward Hull Street Road and nearby development |
A Note on Tolls
Reporting says no tolls are planned on the extension. One report also says the 75-cent toll on Powhite Parkway at Courthouse Road is on track to be eliminated in January. If that matters for your commute or your tenants’, confirm the current status with the Virginia Department of Transportation and the county closer to the date.
Stress-Testing a Deal Near the Corridor
Because the benefits of a road project arrive slowly and are uncertain, a smart investor tests a purchase against more than one scenario. Run the numbers three ways: a base case using today’s market rent and your normal vacancy and repair assumptions, a cautious case in which construction delays reduce demand for a year or two, and an optimistic case in which better access lifts rents modestly after the road opens. If the deal only works in the optimistic case, it is a bet on the road rather than an investment in the rental. If it works in the base case and survives the cautious one, the road is a bonus.
It also helps to keep your capital cushion in mind. Construction areas can mean longer vacancies, so make sure your reserves can handle an extra month or two between tenants. Our guide to vacancy and landlord insurance explains why empty stretches can carry risks beyond lost rent.
Keeping Tenants Informed During Construction
Tenants rarely object to improvement itself. They object to surprises. If your rental is near the work zone, send a short, plain message when you learn the schedule, explain how access to the property may change, and tell residents who to call about concerns. Share links to official county and VDOT notices rather than guesses. Keep notes about any complaints so you can respond consistently, and walk the property after major work to look for dust, drainage changes, or damage to driveways and landscaping. Clear communication keeps good tenants renewing even when the street outside is torn up.
Frequently Asked Questions
What is the Powhite Parkway extension?
It is a planned extension of the parkway in Chesterfield County, about nine miles long, running from its current end near Route 288 to Hull Street Road, with a reported total cost of $565 million.
When will construction start?
Reporting says the initial phases are expected to start this winter, which means around the end of 2026 or early 2027.
When will phase one open?
Phase one, which extends the parkway to Woolridge Road, is planned for completion in 2029.
Will the extension be tolled?
No tolls are planned on the extension, according to local reporting.
Why did the county use eminent domain?
The Board of Supervisors approved it for right-of-way and easements for phase one after negotiations with some landowners failed, according to Richmond BizSense.
Will the project raise my rental’s value?
It may improve access, but there is no guarantee. Base your underwriting on current rents and treat any future benefit as upside.
Where can I find official project updates?
Check the Chesterfield County website and the Virginia Department of Transportation for current schedules, maps, and construction notices.
Talk to Mission Realty
If you own or are considering a rental in Chesterfield, our team can help you separate headlines from numbers. We run rent comparisons, manage turnover, and keep tenants informed during neighborhood changes. See our property management services, learn more on our owner page, and request a free rental analysis. You can also contact our team to talk through a specific property. This article is general information, not legal or investment advice.
