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 […]
The primary goal of Charlottesville’s new zoning code is to increase the number of places for people to live within city limits. Along with that comes initiatives to make adjustments to city streets that makes them safer for all who use them. After a woman was killed crossing Elliott Avenue at dusk in early October […]
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 […]
One of the last undeveloped stretches of U.S. 29 in Albemarle’s urban ring could soon be the home of new apartment buildings. Landshark LLC, a subsidiary of the United Land Corporation, wants to change the zoning of a nearly eight-acre strip of land at the entrance of the Carrsbrook neighborhood from commercial to residential. The […]
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 […]
Since 1972, the Holiday Inn on Emmet Street has been a temporary home for people visiting the Charlottesville area and the University of Virginia. In the near future, dozens of people may call the seven-story building their permanent home. “The Palms Charlottesville conversion will feature approximately 190 apartments, primarily focused on small affordable units, but […]
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 world’s largest operation of student housing complexes now operates two of three such buildings on West Main Street. On October 9, a business trust connected to the Inland Real Estate Group of Companies of Oak Brook, Illinois, purchased the Flats at West Village for $107 million. Three days prior, the company announced via press […]