Short Pump's Newest Homes Start in the $800,000s, and the Rezoning Record Explains Why

Over the past 15 months, Henrico supervisors have reviewed a handful of for-sale housing proposals in and around Short Pump. Only one was approved: 74 four-story condos on Pouncey Tract Road, with market-rate prices reported to start in the $800,000s. One proposal was withdrawn and two were denied, and together they would have added roughly 440 homes. The biggest of them was mostly townhomes priced in the upper $400,000s.

Each case was decided on its own facts. Taken together, they mean new supply near Short Pump comes in small batches, at the top of the price range. So far, the lower-priced new construction that would compete most directly with existing homes hasn't been part of what got approved.

The ledger since mid-2025

These are the for-sale residential cases our research turned up for the Short Pump area and the wider Three Chopt District, the county's supervisor district that covers Short Pump. They run from July 2025 to July 2026.

Each case ended for its own reasons. Richmond BizSense reported that the Schell Brothers proposal had a 5-0 recommendation from the Planning Commission. Supervisors deferred it three times while county planners pushed for stronger road buffers and preservation of roadside trees, and the builder withdrew it before the vote. The Markel | Eagle case had been deferred more than 25 times. BizSense reported that Three Chopt Supervisor Misty Roundtree pointed to unresolved litigation over the land purchase and to changed conditions when the board denied it.

Westford Glen is the case that shows the pattern most clearly. It sits on the Wyndham side of Three Chopt rather than in Short Pump itself. It also drew from the same pool of western Henrico buyers.

Why the lower-priced plan lost and the pricier one passed

Westford Glen would have covered most of a 76-acre site northeast of the Nuckols Road and I-295 interchange. By the time it reached the board, the plan had been trimmed to 345 homes, most of them townhomes priced in the upper $400,000s. According to Richmond BizSense, Roundtree credited the developers with their work on traffic improvements along Nuckols. She said the effect on school capacity kept her from approving it. She put it this way:

"Yes, affordable housing is good; building more housing to make things more affordable, good; adding construction jobs, good. But it has to be the right project in the right place at the right time."

Eight months later, the board approved Bacova Development Co.'s plan for 74 condos on about 10 acres across from Pouncey Tract Park and Striker Park. It came after two deferrals the developer requested and several rounds of revisions. BizSense's account shows what passing took:

1. Smaller footprint. The plan grew an existing community that has been in the works for more than a decade. It didn't open a new greenfield site.
2. Affordability written into the deeds. Twenty units must be priced for buyers earning 80% to 120% of area median income, and deed restrictions keep them in that range for at least 30 years. An earlier version had 10.
3. Design concessions. The developer dropped a road connection to the 55-and-up Bacova Village, turned the roadside units to face Pouncey Tract, and added 4.5 acres of open space, two pocket parks and 35-foot landscaped buffers.

Roundtree called it "the right-sized development for this." She said it would add to school capacity, but not on the scale of projects she had turned down. The project's size is what got it approved. The other 54 condos are market-rate, and BizSense reported starting prices in the $800,000s, about double the Westford Glen townhomes.

County policy doesn't rule out a mix of housing. The Bacova staff report says Henrico's Suburban Mixed-Use designation supports detached homes, townhouses, condominiums and zero-lot-line homes, and it encourages "smaller homes or condominiums." In practice, each case is decided on whether a specific site can absorb a specific number of homes. Under that test, the larger proposals with more modest price points have had the hardest time.

What the resale numbers say once you know this

No one publishes MLS figures just for Short Pump. Central Virginia Regional MLS reports Henrico County as a whole, so the numbers below are countywide.

In August 2026, Henrico's median single-family sale price was $425,000, up 7.9% from $394,000 in August 2025. The county had 1.6 months of supply, and homes went under contract in a median of 18 days. Sellers received 99.5% of their original list price on average. A month and a half of supply is a tight market by any common measure. It also held flat from a year earlier even though new listings rose 9.2%.

The condo and townhome segment is the one Westford Glen would have added to. In August 2026, its countywide median was $380,017, up 5.6%. Inventory fell 6.6% to 240 homes, and supply dropped from 2.4 to 2.2 months. Attached homes did take longer to sell, at 36 days compared with 33 a year earlier. Even so, inventory in that segment is shrinking.

A buyer looking for an attached home in the $400,000s near Short Pump mostly has resale listings to choose from. The nearest approved new construction starts around twice that price. For an owner of an existing Short Pump townhome or single-family home, it means the competition next spring will mostly be other resales, not a fresh phase of new homes down the road.

Taxes add to the cost. Henrico's tax rate is $0.83 per $100 of assessed value. Residential reassessments rose 1.8% countywide as of January 1, 2026. When assessments go up and the rate stays put, the annual bill goes up too.

What's being discussed that could change things, and how far off it is

A few things in the pipeline could eventually shift where new homes go around Short Pump. None of them adds homes this year.

• Taller buildings near the mall. The Henrico Citizen reported on Oct. 9, 2026 on proposed zoning amendments for the county's Form-Based Alternative Overlay District, which includes a Short Pump Town Center subdistrict. Height limits on designated primary streets in mixed-use areas would rise from 75 to 110 feet, and buildings up to 200 feet could be approved by permit. These are proposals until the Board of Supervisors adopts them.
• The mall itself. In June 2026, Richmond BizSense reported that a controlling stake in Short Pump Town Center had been put up for sale, with the mall 97% occupied according to the sale flyer. The county's earlier ideas for the mall's future came from a 2021 design workshop, not from an approved plan.
• The county's long-range plan. Henrico adopted the HenricoNEXT 2045 Comprehensive Plan on July 28, 2026. It emphasizes infill, redevelopment and a range of housing types. The county says the final document is still being prepared for posting.
• West Broad Street. VDOT's operational project from I-64 to East Pouncey Tract Road is still in design. Construction is estimated to start in fall 2028 and finish in fall 2030, at a cost of $24.3 million. The broader package of Short Pump interchange projects, including a proposed diverging diamond at I-64 and North Gayton Road, has no funding for design or construction.

The BizSense report on the Bacova approval gave no construction or delivery timeline.

A few quick questions

Does this mean nothing new is being built near Short Pump? Most of the for-sale proposals that reached a vote over this stretch were turned down or withdrawn, and the one approved is small and priced high. Earlier approvals are still in the pipeline too. BizSense reported that Bacova principal Bob Babcock and developer Lawrence Liesfeld had previously secured approval for 32 for-sale townhomes at Pouncey Tract and Liesfeld Farm Drive.

Are the 20 deed-restricted Bacova units open to anyone? The proffers set those units at prices for buyers earning 80% to 120% of area median income and keep that range for at least 30 years. The approval coverage didn't spell out eligibility rules or how those units will be sold.

Why aren't these figures specific to Short Pump? CVR MLS doesn't publish Short Pump or its ZIP codes as separate geographies, so the countywide Henrico report is the closest current source.

If you own a home near Short Pump and want to know how it stacks up against a market with little new construction coming, Simpson Realty Group can walk you through recent resale comps for your street and what they suggest about your home's value. Request your free home valuation, and we'll take it from there.

This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.