Caroline County Event Park to be Auctioned Off in May
The 360-acre Meadow Event Park in Caroline County will be auctioned off in May after the owner and former holding company of the State Fair of Virginia, SFVA, Inc., filed for bankruptcy. This comes as a huge blow to the county which relied on the revenue generated from the fair. (more…)
Changes to Virginia Building Code Take Effect
As of March 1, 2012, changes to the residential building code in Virginia have taken effect. The building code is updated every three years as new regulations are implemented. These rules will apply to all new construction that begins after March 1st. Yesterday morning, the Home Building Association of Richmond hosted a roundtable discussion about the building code changes and what they mean for home builders in Virginia. Officials from the city of Richmond and counties of Henrico, Chesterfield, and Hanover discussed the building review and approval process. (more…)
Loudon and Fairfax Counties Consider Phase Two of Rail Project
For years, there has been a great deal of pressure on Virginia localities to extend Metro service from Washington, D.C. out to Dulles International Airport and beyond. That plan became a reality a few years ago when construction started on the first phase of the project from Falls Church to Reston. However, opinions are quickly changing. The first phase is not even complete yet and citizens in both Fairfax and Loudon counties are already beginning to complain about the quality of life impact that the project is having on the area. Real estate prices are beginning to rise as Metro-Rail inches closer and closer to communities that were immune from the extra tax burden. (more…)
Build-to-Suit Industrial Facility Planned for Amherst
Hoping to capitalize on the nearby Charlottesville and Lynchburg populations, The Hollingsworth Companies is working with the town and county of Amherst to design and develop a 100,000 square foot build-to-suit industrial facility geared toward logistics or advanced manufacturing uses in a 150-acre industrial park. Hollingsworth is expected to initially spend approximately $200,000 on design, permits, and marketing, with plans to locate a tenant within 6 months. The park is complete with water, sewer, and high-speed broadband internet. The developer made this unusual financial commitment to construct a custom rather than spec building based on the close presence of the University of Virginia, Liberty University, and Sweet Briar College and the educated workforce they can provide to prospective tenants. (more…)
More Good Apartment News in Virginia
Even more apartments are coming to the Richmond and Tidewater regions, continuing multifamily housing’s place as a bright spot in the real estate market. In Richmond’s downtown area, one developer wants to rezone and purchase an old office building, while another company has already bought an office building for redevelopment. In Chesapeake, a new apartment complex will join others in a suburban location. (more…)
