HUNTER CRAIG
Assessed value: $126 million*
Acres: 1,305
Notable holdings: Biscuit Run, Wachovia tower on the Mall, the Bank of America building on the Mall, Chancellor Building on the Corner, Barracks West Condos
Hunter Craig is either well positioned to make a killing when the recession ends or stuck with a millstone around his neck. At the height of the boom, he and possibly other investors paid $46.2 million for Biscuit Run, a thousand-plus acre tract that he plans to develop into a 3,100-unit neighborhood on the south side of Charlottesville. After a rezoning battle, the project was labeled as the best neighborhood model the county had yet seen.
“I think this will be the gold standard for the neighborhood model plan,” Craig told C-VILLE in 2007. “I’ve been told that by several of my fellow developers, and not in admiration or appreciation.”
In the city, Craig is a player on the Corner—he owns the Chancellor building, home to the White Spot, Freeman-Victorious Frame Shop and the Corner Market. Most recently, Craig purchased the Wachovia building on the Downtown Mall for $6.7 million, and he is the steward of the Bank of America building (where C-VILLE leases its office).
Fun Fact: Craig is the Vice Chairman of the Board of the Virginia National Bank and served on the Board of the UVA Foundation from 1995 to 2003.
*Though contacted, property owner did not verify list of holdings.
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