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The Stafford County Board of Supervisors last night approved the development of a 55-townhome community on a 17.6-acre parcel in the county. The project, known as Whitson Woods, will be located in the northern section of the county near a number of single-family subdivision. D.R. Horton, the community’s developer, successfully argued that the townhomes would fit nicely with the single-family neighborhoods in this growing part of the county.
In 2010, Newport News-based W.M. Jordan purchased a 43-acre plot of land from the College of William & Mary Foundation for $8 million. Now W.M. Jordan’s CEO John Lawson plans to develop the land, along with S.J. Collins Enterprises and Virginia Tech, into a $250 million mixed-use destination that will include 150,000 sq./ft. of commercial office space, 300,000 sq./ft. of retail, 350,000 sq./ft. of multifamily residential, and 600,000 sq./ft. of corporate research center space. (more…)
The Falls, a major commercial development proposed in the city of Bristol, seems ready to move forward as financing falls into place. The city has been working to arrange financing support for the retail center through revenue bonds. Earlier this week, the city learned that the he Virginia Tobacco Commission approved a $5.5 million funding guarantee, making the bond sale much more attractive and likely. City officials have been pursuing this massive project because they believe it will be a major economic driver for the city.
The Orange County Board of Supervisors this week approved the rezoning request for Signature Station, a major mixed-use development in the County near Route 3. The 3-2 vote signified a major turnaround for the project which was first proposed by the developer and rejected by the county in 2006. Signature Station returned earlier this year when the developer, Signature Series Development LLC, asked the county to rezone 76 acres of agricultural land to 47 acres of multifamily and 28 acres of commercial. The county’s Planning Commission had recommended approval of the project to the Board of Supervisors, which voted in favor of the proposal after the developer negotiated proffer concessions with the county.
Virginia Beached-based developer Bruce Thompson revealed his plans for the Cavalier Hotel and the surrounding site at a special meeting of the Virginia Beach City Council yesterday. The proposed $200 million plan includes renovating the historic 86-year old hotel and adding low density housing including condos, cottages, and larger homes on vacant land around the property. Thompson’s goal is to keep the historic charm of the property in tact while making it more “hip” to tourists and buyers. (more…)