Off-Campus Student Living Community Is Just Steps Away from Virginia Commonwealth University
Oct. 19, 2026 — The Michaels Organization has acquired 8 ½ Canal Street, a premier student housing community serving Virginia Commonwealth University in Richmond, VA. Located at 8 ½ West Canal Street, the community is ideally situated within easy walking distance to the center of VCU’s Monroe Park Campus.
“We are delighted to welcome this high-quality asset into our student living portfolio,” said Kevin Gates, Michaels’ Senior Vice President of Capital & Transactions Management. “ This amenity-rich community offers the University’s growing enrollment an off-campus housing option designed specifically for students.”
Featuring 160 apartment homes and 540 beds, 8 ½ Canal Street offers fully furnished one-, two-, three-, and four-bedroom apartment homes. The floor plans are designed specifically around the way students live, study, and connect. Private bedrooms and bathrooms, in-unit conveniences, and thoughtfully designed community spaces provide residents with a balance of privacy, academic support, wellness, and social engagement.
The community offers an extensive collection of student-focused amenities, including:
- A 24-hour Academic Success Center with iMac computers and complimentary printing
- A 24-hour fitness center and dedicated yoga studio
- A recreation center featuring billiards, ping-pong, foosball, arcade games and a TV lounge
- Open-air courtyard lounges and outdoor gathering areas
- Barbecue grills and a half-court basketball area
- Community kitchen and coffee bar
- High-speed internet and Wi-Fi throughout the community.
- Two levels of secure covered parking,
Michaels Management will assume management of the community, bringing Michaels’ operational expertise and resident-focused approach that supports both academic success and an exceptional living experience.
Neither the seller nor the financial terms were disclosed.
