The Hanover County Board of Supervisors this week approved zoning for a new apartment complex, citing the need for diverse housing options in the county. The project, known as Charleston Ridge, would include 172 apartments and would be located near the Kings Charter Shopping Center. The action by the Board of Supervisors came despite vocal opposition from community members. Many residents are opposed to dense development and want to retain the county’s rural feel.
Virginia has many numerous historic landmarks and Natural Bridge has amazed tourists for centuries. In 1774, Thomas Jefferson purchased the natural phenomenon from King George III for 20 shillings, recognizing the importance of the landmark and its ability to astound visitors. Since that time, Natural Bridge has always been privately owned by various parties and investors. Its assets have grown considerably over the years to include a 150-room hotel, a wax museum, and other tourism related properties. It now appears that the owners are ready to sell. Roanoke-based Woltz & Associates announced earlier this week that they have been retained by the owners to sell the 1,600 acre site. (more…)
Last night the Chesterfield County Board of Supervisors unanimously agreed to keep the maximum proffer amount of $18,966 per new home in place for now. We have written extensively about the debate that has gripped one of the most populous counties in Virginia for the past six months. Home builders and developers all across Virginia have been launching a campaign to do away with the proffer system which they have argued is an unfair tax on construction at a time when the real estate recovery is still fragile. Chesapeake, for example, decided to eliminate collecting proffers until the city’s growth rate hits two percent. Hanover County originally eliminated proffers entirely and eventually decided to reinstate them at a lower rate. (more…)
Earlier this month in Danville, a new mixed-use project was opened and signaled continued redevelopment for the Southwest Virginia city. Located in the city’s downtown, One Danville includes 20 apartment units and ground floor commercial space. The project took the landmark Smith Seeds building and converted it into a sleek new development. Geared toward young professionals, the one and two bedroom apartments range in size from 800 – 1200 square feet. In addition to the apartments, the building’s owner is looking to attract restaurant, retail, or office tenants for its commercial spaces, which range from 3,500 – 5,000 square feet.
Back in March, we discussed the submission of a development proposal for a mixed-use project in Blacksburg called Fiddler’s Green. The 20-acre project, which was to be located on the former Blacksburg Middle School site, included residential, retail, and office properties. Despite concessions from the developer to meet certain conditions in order to receive rezoning approval, it appears that the project may be dead. (more…)