Maryland firm gains ownership of Essex Village in $40 million deal


HENRICO COUNTY, Va. (WRIC) — A Maryland real estate investment firm has gained ownership of eastern Henrico County’s Essex Village.

Maggie Lena Walker Apartments LLC, which is controlled by Ernst Valery Investments Corp., bought the federally subsidized housing community for over $40 million.

The company who previously controlled Essex, P.K. Management, has a long history of housing concerns.

In January, Essex failed a HUD inspection, and in May, a pregnant woman was injured when she fell through a balcony.

8News also learned the Woodland Crossing Apartments in Richmond received a low inspection score this past fall and safety violations were discovered during an inspection at Hope Village in Glen Allen, both maintained by P.K. Management.

“After months of my continued inquiries and pressure, I am pleased that P.K. Management has sold Essex Village, where, under their poor management, residents lived in unsafe and unsanitary conditions for far too long. Everyone deserves to live in a clean, sanitary, and safe home,” Congressman Donald McEachin said in a statement.

This is a developing story. Stay with 8News online and on air for the latest updates.

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