Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
Bundoran Farm, the preservation development near North Garden and Batesville in Southern Albemarle was foreclosed on last year.
Dave McNair at The Hook reports on how they’re moving forward under new ownership. I’ve always loved that development and wish it was viable on a larger scale.
Either way – as Dave reports, they should be able to make a much better run at it; the original price in 2006 was $31 million; the foreclosed sale price was $7.5 million.
No one’s surprised by this, are they? Charlottesville Tomorrow reports that two years after the sale of Biscuit Run to the Commonwealth “there is no approved master plan or funding to open the park.“
If not cash proffers, what?
An interesting proposal from the Free Enterprise Forum to remove cash proffers from Albemarle County’s toolbox for managing new growth. I’m curious to know what alternatives exist that would replace proffers. Proffers are not always effective at restricting growth or helping the County achieve the desired revenue stream to support infrastructure development.
Impact fees, adequate public facilities regulations and legislation … what else could be done so that new homeowners don’t bear the full burden of growth? (it’s not merely mean old rich developers who pay the fees … they pass those fees on to new homeowners). This is one bill that failed in the Virginia General Assembly a few years ago – Conditional zoning; replaces cash proffer system with system of impact fees.
The only answer which I can come up with now is that there is no easy answer as to how to pay for the impacts of growth and the lack of sufficient infrastructure, other than we can all agree that both need to be paid for, but we want someone else to pay for it.
I’m curious as to how many developments have gone by-right (not needing a rezoning) because going through the proffer/rezoning process and paying the proffers were cost-prohibitive.
If you’re curious about impact fees (which I believe are traditionally fought by real estate/developers, but I could be wrong), spend a few minutes reading the Virginia Code
A. Any locality that includes within its comprehensive plan a calculation of the capital costs of public facilities necessary to serve residential uses may impose and collect impact fees in amounts consistent with the methodologies used in its comprehensive plan to defray the capital costs of public facilities related to the residential development.
B. Impact fees imposed and collected pursuant to this section shall only be used for public facilities that are impacted by residential development.
C. A locality imposing impact fees as provided in this section shall allow credit against the impact fees for cash proffers collected for the purpose of defraying the capital costs of public facilities related to the residentialdevelopment. A locality imposing impact fees as provided in this section shall also include within its comprehensive plan a methodology for calculating credit for the value of proffered land donations to accommodate public facilities, and for the construction cost of any public facilities or public improvements the construction of which is required by proffer.
D. A locality imposing impact fees under this section may require that such impact fees be paid prior to and as a condition of the issuance of any necessary building permits for residential uses. ¶
Land use (for many) is boring and is the task of other people. But … if you live in (or are thinking about living in) the Charlottesville or Albemarle areas, you should be paying at least some attention to the Comprehensive Planning Processes of the County of Albemarle and City of Charlottesville. This stuff matters.
I haven’t reviewed the respective Comprehensive Plans, but the one thing that I think would be a crucial component would be how each locality plans to cooperate and collaborate with the other – particularly on infrastructure. Our locality’s inability to plan effectively and more importantly – implement and execute (at all) – are damaging to the community, real estate values and quality of life. 40 years ago, the Meadowcreek Parkway was a logical road (from what I’ve been told); today, notsomuch. But it’s the best that could be done apparently.
Naturally, Charlottesville Tomorrow reports on both.
The City of Charlottesville’s Comp Plan:
After two years of review and more than 60 meetings, the Charlottesville Planning Commission will hold a public hearing Tuesday on the document that will help shape land use decisions through 2018 and beyond.
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The plan also includes an analysis of the city’s ability for future growth. There are currently around 10,000 potential residential units that could be built by-right, though only 800 of those would be in the city’s lower-density neighborhoods.
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Haluska also said that the city is running out of vacant land for new residential development, so new homes will likely be built on sites that will have to be redeveloped.
And the County of Albemarle’s Comp Plan:
“[In the 2007 version] we had five sections in the Comprehensive Plan and they were kind of unbalanced,†county principal planner Elaine Echols said. “Those sections were created at different times and they each start with the growth management policy.â€
“[In the current draft] we’ve pulled these sections together into one single document and moved the growth management policy [to the beginning of the plan],†Echols added, noting that these changes should decrease repetition and increase ease of use.
This Thursday evening, March 21, ASAP’s Annual Meeting will feature a critical discussion of our recently completed study, “Counting the Costs and Benefits of Growth: A Fiscal Impact Analysis of Growth in the City of Charlottesville and Albemarle County, Virginia.”
Looks like Crozet will be getting a hotel … in Old Trail.
If you’re curious, check out the state of the “Major Site Plan Amendment” at Albemarle County’s outstanding County View – Planning Application number is SDP201300011
This is an interesting development … Old Trail has been in a bit of flux for the past several months after new management took over, and it’s been quite challenging to advise buyer clients as to what the future of Old Trail is going to be … other than “it’s going to be a lot more dense, a lot busier, and they’ve no plans to address traffic (to be fair, the County doesn’t have any plans for traffic – here or anywhere)”. I don’t mean that to be a negative, but an honest statement … Old Trail is an outstanding neighborhood – one of the most walkable and popular neighborhoods in the region, but having a clear, defined plan would be helpful – both to new residents and existing ones.
It seems that their plans are taking shape.
Charlottesville (and the urban ring in Albemarle County) is poised to have a lot more hotels … but this is the first one in Crozet, and is a much-needed hotel. With the number of vineyards hosting weddings, tourists coming to town to hike and visit the many breweries in Crozet and Nelson County, I’m betting a 43 room hotel, assuming it’s a nice boutiquey thing, will do extremely well.
A boutique hotel had been planned/discussed for the Barnes Lumberyard, but after the bank bought the lumberyard back at foreclosure, I’m betting the only hotel Crozet sees is the one in Old Trail.
I’m working on figuring out a timeline for the site plan review, who’s building it and other details. But for now, I’m off to see a client about a house.
PROJECT: SDP2013-011 Old Trail Village Block 2B – Major Site Plan Amendment
PROPOSED: Request for major site plan amendment approval for a four story, 43 room hotel with a 1,000 square foot restaurant and associated parking.
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LOCATION: At the corner of the intersection of Golf Drive and Claremont Lane, near The Lodge at Old Trail.
Years ago when I wrote “If you Don’t Own it, It’s Going to Change” – referencing homeowners’ and buyers’ expectations regarding adjacent properties, I was using the Mosby Mountain neighborhood as my reference point.
The Redfields neighborhood experienced this last year when the developers tried to build on “their” “open space.”
Fast forward to the end of 2012 and the best solution seems to be coming to fruition – the Redfields homeowners’ association will be buying the open space to keep it as that – protected open space rather than more homes. Good for them and good for the developers.
That area of Charlottesville is poised to grow – significantly – and I think that having secured this open space will be good for Redfields’ residents (their property values and their ability to enjoy their homes)