Two transactions in Charlottesville this fall illustrate how student housing is a lucrative global business with healthy cash flow fueled by households that can afford to pay premium prices for places to live. In the past dozen years, three student-housing buildings—all valuable commodities for investors—have been constructed on West Main Street. Madison Loft LLC sold […]
Two transactions in Charlottesville this fall illustrate how student housing is a lucrative global business with healthy cash flow fueled by households that can afford to pay premium prices for places to live. In the past dozen years, three student-housing buildings—all valuable commodities for investors—have been constructed on West Main Street. Madison Loft LLC sold […]
Building new transportation projects can take many years as ideas make their way through competitive processes to decide what gets funded. One concept in Albemarle County is to create a shared-use pathway to follow along Three Notch’d Road, a route to the west first carved out of the landscape in the 18th century during the […]
For decades, Albemarle’s Comprehensive Plan has divided the county’s land into two parts: a rural area where public investment is discouraged and a growth area intended to be a place where people can live, work, and play. Yet Albemarle’s urban area lacks public open space with most of the county’s parks in the rural area […]
One of the biggest challenges facing a growing locality is how to pay for infrastructure needed to support a larger population. Most funding from the Commonwealth of Virginia depends on competitive processes that require detailed plans before applications can even be submitted. On November 19, the Albemarle Board of Supervisors had been expected to endorse […]
For months, the Public Housing Association of Residents has been asking Charlottesville City Council to step in to halt two proposed student housing buildings, on West Main Street and in Fifeville. LV Collective has filed plans for an 11-story building at 843 W. Main St., while Landmark Properties is seeking staff approval for a seven-story […]
Albemarle County has one of the highest median incomes in Virginia, with $125,800 for a family of four, which is an important statistic that makes the provision of affordable housing much more difficult. In July 2021, the Board of Supervisors passed a new housing policy intended to encourage more units, but a program to help […]
Virginia law requires localities to hold a public hearing in certain instances, and City Council’s consideration of spending $6.2 million for a 3.8-acres site at 2000 Holiday Dr. met that threshold after an October 20 meeting. Council authorized City Manager Sam Sanders to proceed with the purchase on October 6, the third area site associated […]
The Albemarle Board of Supervisors is scheduled to adopt a new Comprehensive Plan on October 15 after a public hearing, but at least one county advisory board has urged revisions to be made first. On October 8, the Crozet Community Advisory Committee adopted a resolution critical of language in the AC44 document that points the […]
Riverbend Development intends to use Charlottesville’s new development code to bring as many as 239 apartments to an area of the city that street signs refer to as Downtown Belmont. In late September, the company filed plans with Neighborhood Development Services to demolish a former church at 914 Monticello Rd. and replace it with a […]
In recent years, Charlottesville City Council has agreed to spend millions of dollars to purchase land in order to advance their priorities. That trend is set to continue this fall as city officials have negotiated the purchase of an office building and 3.8 acres of land at 2000 Holiday Dr. for $6.2 million for potential […]