While the city may have recently abandoned an expensive plan to upgrade West Main Street to be more of a destination, those who want to take a risk on business continue to make investments. At least that’s what a Chesterfield-based firm did when it purchased 917 W. Main St. for $1.3 million in August 2022. […]
While the city may have recently abandoned an expensive plan to upgrade West Main Street to be more of a destination, those who want to take a risk on business continue to make investments. At least that’s what a Chesterfield-based firm did when it purchased 917 W. Main St. for $1.3 million in August 2022. […]
When Albemarle supervisors approved a rezoning of 277 acres north of Polo Grounds Road in November 2016, Riverbend Development got the green light to build up to 1,550 residential units and develop 130,000 square feet of commercial space. Eight years later, Riverbend has asked Albemarle for permission to build 300 more homes as part […]
A delay in the completion of a new comprehensive plan for Albemarle County means adoption won’t happen until at least summer 2025, a time when half of the Board of Supervisors may be up for re-election. Among other things, the update, known as AC44, will reaffirm rules about what can be built in Albemarle and […]
The future of land use in Charlottesville will be determined parcel by parcel as property owners make decisions about whether they will build units that are required to be sold or rented at levels below the market value. The relatively new owners of 1609 Gordon Ave., an LLC who bought the property in December 2021 […]
Albemarle County’s campaign to grow the biotechnology industry showed a major sign of progress earlier this month when one company announced plans to invest $200 million into an expansion project. “We want to expand our manufacturing to make sterile medicines, put in clean rooms, and create really, really great jobs,” said Afton Scientific’s Tom […]
A New York-based developer who had planned to build a nine-story apartment tower on the site of a downtown Charlottesville shopping center has sold the property for $5.75 million. Jeffrey Levien’s company Heirloom Development bought 218 W. Market St. in June 2020 for $4 million, but sold the property in mid-September to Cavalier Hospitality LLC. […]
As planning and negotiations continue over a grocery story at 501 Cherry Ave., major transactions continue to take place in the Fifeville neighborhood. On September 9, the firm Neighborhood Investments paid $2.24 million for an undeveloped property between Roosevelt Brown Boulevard and Ninth Street SW. There have been several development projects associated with the land, […]
The recent purchase of the Cavalier Crossings apartment complex on Fifth Street Extended by an Alexandria-based investment company prompted one member of the Albemarle Planning Commission to tell his colleagues the county should be investing in “social” housing. “If we can think about how we can put county resources toward public goods, which to me […]
The governing body of the area’s largest landowner will meet this week with five new members, at least one of whom has significant experience in real estate. Governor Glenn Youngkin’s latest appointees to the University of Virginia’s Board of Visitors begin their terms at a time when two private, recently approved student developments are moving […]
The waiting game continues for a lawsuit filed earlier this year that seeks to nullify Charlottesville’s new zoning code. A group of residents filed suit against Charlottesville in January alleging that city officials failed to follow state guidelines to study the impacts higher residential density allowed in the Development Code would have on transportation infrastructure. […]