UPDATE: Gary Waugh, spokesperson for the Virginia Department of Conservation and Recreation has confirmed that the agency has been approached by "the owners of the property to look at it as a potential donation for a state park," he told C-VILLE. "Beyond that we are treating it as a potentially active real estate transaction."
The 1,200-acre land known as Biscuit Run is rumored to soon be donated to the state of Virginia as parkland.
Staff from Piedmont Environmental Council (PEC) told C-VILLE that the owners of the property, which include Hunter Craig, were looking at options involving PEC, but that ultimately, the land would go to the state.
Other rumors indicate that the bank behind the property’s loan was the now defunct Lehman Brothers.
Steve Blaine, lawyer representing the property, declined to comment.
Biscuit Run, which went through the approval process for a development in 2007, is the largest residential development in county history with 3,100 units planned and 150,000 square feet of commercial space. Developers also got approval from the county Planning Commission for three stream crossings.
In 2007, Supervisor David Slutzky called Biscuit Run "a poster child for how development can make its way through our process and add value to the community.”
Craig and other developers bought the land for a reported $46.5 million back in 2005.
In January, due to the economy, the project stalled.
