The Real Estate Weekly | 1.4.2023

CHARLOTTESVILLE ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, ORANGE, AUGUSTA

Saunders Monticello Trail

Albemarle County

This gorgeous, one of a kind, 7,000+ sq. ft. home in Bentivar features 6 Bedrooms, 5 Full and 2 Half Baths. The Grand curved staircase, archways, columns, dental molding, built - in cabinetry & woodworking throughout are easy to impress. Main level bedroom suite attached to formal office. Wraparound decking and massive screen porch overlook your private 2+ Acres. Tremendously large eat-in kitchen flows to the 2nd Staircase. The upper level features 3 bedrooms, plus a Master Suite with a private sitting room, balcony & double

to be whatever you can imagine! All

more can you want? Bentivar is ideally

$985,000

Spacious & Ideally Located

Move right in! 5 Bedroom Earlysville Rd Ranch on a full finished basement apartment. Main level kitchen just updated with NEW Appliances & Counters. Abundant light fills this space; just off the Sun Room. Upstairs features Hardwood Flooring, 3 Bedrooms & 1.5 Bathrooms, Large Living Room with Wood Burning FP, Dining Area, Sun Room & Large Rear Deck. The Terrace Level apartment set up has a Kitchen, Full Bath, 2 Bedrooms & FP. Inspection Completed. Major Infrastructure work completed recently, including:

Northeast City of Charlottesville

New reality

How will the Comprehensive Plan affect local real estate prices?

By Sean Tubbs

With interest rates much higher than they were a year ago, you might think that residential properties in the area would be selling at lower prices. However in Charlottesville, many realtors are marketing their properties to reflect the new realities created by the Comprehensive Plan, which both allows and encourages more density throughout the entire city. Here’s the listing for two properties on Piedmont Avenue South between Fontaine Avenue and the Norfolk Southern railroad tracks near the University of Virginia: “The future land use map has this land designated as ‘high density residential’ land,” reads the posting on Zillow. “This up-zoning would allow for a significant development project with potential for 26+ units.”

The actual term used in the Future Land Use Map is “higher-intensity residential,” and the language in the plan specifically states this category is to “incentivize affordability and increased intensity to meet Affordable Housing Plan goals.” One of those goals is to eliminate single-family neighborhoods by updating the zoning code.

The previous designation had been “Low Density Residential” in the 2013 Comprehensive Plan. Denser would change the character of the street, which includes four homes in two duplexes built this year by Habitat for Humanity of Greater Charlottesville. Each unit sold for $279,900.

If purchased by an entity that wants to build an apartment complex, the exact unit count and their affordability requirements will be determined by a variety of factors including the shape of the parcel. The details will become better known this winter as the new zoning rules go through the public adoption process. A draft map should be released in January, but materials released in December show that higher-intensity residential calls for three- to five-story buildings, and limited commercial uses will be allowed.

The suggested sales price is $1.2 million, well over the combined assessment of $685,100 for 0.694 acres. The property is owned by a LLC that traces back to a family that purchased the land in 1979.

Planning work has occurred to prepare for density at this location. This year, the Com-

monwealth Transportation Board agreed to fund the cost overruns for a long-planned project to add bike lanes and sidewalks to Fontaine Avenue. Charlottesville Area Transit does not serve this property, but the public at large can use the University Transit Service routes.

The project is also about a tenth of a mile from where the University of Virginia plans to redevelop the Piedmont family housing site as part of its initiative to build between 1,000 and 1,500 affordable units. The next step is for UVA to select a nonprofit partner that will build and manage the new homes.

How realistic is the higher density, or an investor picking up these two parcels on Piedmont at that price? This property was originally listed in May for $1.3 million and reduced by $100,000 in the summer. It was taken off the market in October and relisted on December 22. Stay tuned.

At least one company believes there’s value in student housing. On December 20, Crossroads of Charlottesville paid $20.7 million for an apartment complex at 2111 Jefferson Park Ave. That’s almost twice the 2022 assessment of nearly $10.06 million for the complex at the intersection of Maury Avenue and JPA. The structure was built in 1994 and sits on 1.575 acres.

Last September, City Council approved a special use permit for 119 units and seven stories at 2005 Jefferson Park Ave. for land that is currently much less dense. A month later, a lawsuit was filed against the city by residents of Observatory Avenue and Washington Avenue who argue that the special use permit process “short circuits” the ongoing rezoning process.

Other property transactions nearby signal a willingness to invest. Another key parcel nearby changed hands in 2022. The building that housed the former Anna’s Pizza on Maury Avenue sold for $3.05 million on April 20.

Units in the apartment complex built in 1966 at 1800 Jefferson Park Ave. continue to increase in value. A two-bedroom unit with 854 square feet sold for $255,000, which is 27.82 percent over the 2022 assessment of $199,500. A one bedroom with 564 square feet sold in mid-November for $155,000 or 23.02 percent over the 2022 assessment. Another one bedroom with 536 square feet sold for $165,000 in late September.

January 4 –10, 2023 c-ville.com @cville_weekly

The new Comprehensive Plan encourages more density in the city, which means that some area homes, like these two properties on Piedmont Avenue South, are priced over their assessments.

STAFF

PHOTO

HATTON RIDGE FARM

175 acre grazing farm with 2/3 mile frontage on the James River. Impressive 4-5 bedroom, brick Georgian home, circa 2000 in excellent condition. Fertile James River bottomland for gardens, plus many recreational uses. MLS#632477 $2,670,000 Jim Faulconer, 434.981.0076

EDNAM FOREST

Well-maintained 2-story home. Situated on two lots containing 3.60 acres (divisible) in Ednam Forest. The 2,950+ sf home contains a LR with FP, DR, eatin kitchen, FR with cathedral ceiling and FP, sunporch, study with FP and powder room on the 1st floor. The second floor has the main BR with FP, large BA and ample closet space, a small study, two additional well-sized BRs (one currently being used as an office) and a full BA . The home is in a totally private environment of mature plantings with lovely mountain views. MLS#636669 $1,745,000 Steve McLean, 434.981.1863

SUNNYSIDE

MLS#585228 $4,400,000 Steve McLean, 434.981.1863

$8,875,000

FRAYS MILL

Mostly wooded preservation tract of 81.395 acres next to Frays Mill Subdivision in highly desirable Northern Albemarle. This beautiful gently rolling land has a great, private homesite with Blue Ridge Mt. views, and creek on property. MLS#608509 $995,000 Jim Faulconer, 434.981.0076

BRIDLEWOOD TRAIL

Private Keswick residence on 18.6 acres with views of the Southwest Mountains. 3-BR, 1.5-BA with wood floors, screen porch and 2-car garage. Open and wooded land. Easy access to Charlottesville and UVA. MLS#634905 $695,000 Charlotte Dammann, 434.981.1250

WOLFCREEK FARM

Situated near the Blue Ridge Mtns. in western Madison County Virginia, contains 333 acres of rolling to hilly pastures and grazing land, wooded mountain land, 2 homes and a complement of necessary farm buildings to sustain many agricultural endeavors. Currently runs as a grazing farm for beef cattle. There is a quality 3 BR brick home, c. 1995, offering 1-level living, a modern kitchen, baths and large windows bringing in lots of light. Outside is a lovely terrace and inground gunite pool. Not in conservation easement! MLS#630435 $3,200,000 Jim Faulconer, 434.981.0076

TURKEY SAG ROAD

33-acre property with beautifully constructed 3/4BR home. Home features great room with dramatic stone fireplace and panoramic views and large master suite with private deck. Peace, privacy and tranquility unsurpassed, but close to town. MLS#635341 $1,875,000 Jim Faulconer, 434.981.0076

CROZET AREA

Beautiful building lot -3.3 acres, fronting on a quiet paved county road. Land is mostly in pasture, some woods, creek and elevated homesite with panoramic views of mountains, pond, and surrounding pastoral area. Less than a mile to Harris Teeter at Crozet. MLS#636349 $450,000 Jim Faulconer,434.981.0076

Remarkably large parcel located convenient to Charlottesville and UVA. Exceptional Blue Ridge views, charming farmhouse (in need of restoration). Under VOF easement but with divisions into already predetermined parcels.

PEA RIDGE FARM

317 ac. estate that has it all: location, views, water, a spectacular 5-BR residence, event center and more! 15+ acre lake is centered among lush rolling fields of rich grass and unparalleled views. Additional acreage available. 25 minutes west of Charlottesville. MLS#631962

Steve McLean, 434.981.1863

RIVER LAWN FARM

Southern Albemarle estate with 1.5 miles of frontage on the James River with 540± acres of highly fertile, gently rolling landscape. Historic farmhouse dating to the late 1700s offers extensive views of the river. Under conservation easement with the VOF. MLS#630470 $4,865,000 Steve McLean, 434.981.1863

SOUTHWIND ESTATES

3 separate parcels with commanding Blue Ridge Mtn. views, level building sites 15 minutes from Charlottesville. Sites have been perked, have wells, and ready for your dream home. MLS#632482 $375,000 (7.8 acres), MLS#632490 $275,000 (2.4 acres), MLS#632487 $175,000 (2.0 acres), Court Nexsen, 646.660.0700

820 CONDO

Corner condo consisting of an exceptionally bright great room with high ceilings, fully-equipped kitchen, ample space for both relaxed living and dining, 1 bed / 1 bath, and inviting private balcony/terrace. Views of the Downtown skyline and mountains. MLS#634496 $285,000 Charlotte Dammann, 434.981.1250

SIMMONS GAP ROAD

5-acre lot with mature hardwoods. Great opportunity to build with no HOA. Private building site amongst beautiful woods. Located between Free Union and Earlysville but so convenient to Charlottesville & UVA. MLS#621177 $140,000 Charlotte Dammann, 434.981.1250

Stunning mountain views available on this attractive 14± acre property, possessing lovely streams and woods. This parcel is only 1.5 miles from Route 151 Brew Trail, with easy access to Wintergreen, Charlottesville & UVA. MLS#629702 $399,000 Charlotte Dammann, 434.981.1250

29 acres fronting Blenheim Rd. a small agricultural & residential subdivision with CCR’s, but NO HOA. 2 buildable lots, with an historic red barn, silo, & an 8-stall stable. Driveway in place, underground power, well & water, & several building spots with mountain views. MLS#624834 $495,000 Jim Faulconer, 434.981.0076

10 miles south of Charlottesville, a beautiful 283 acres, rolling to hilly, mostly wooded tract, borders Walnut Creek Park, with lake and miles of trails. This land has pastures, trails, creeks and a river! Many homesites, NO EASEMENTS. MLS#634310 $1,995,000 Jim Faulconer, 434.981.0076

GIBSON’S HOLLOW

Ivy area! A 249 + acre hidden, private Arcadia controlling its own little valley up to the mountain ridge top building sites. Multiple parcels and subdivision rights make it a conservation easement candidate. MLS#634183 $4,000,000 Tim Michel, 434.960.1124 or Steve McLean, 434.981.1863

DUDLEY MOUNTAIN ROAD

Unique 88-acre property with 4-BR home. Property includes two-car garage, storage shed/ shop and 3760-sqft multipurpose building. Beautiful mountain and lake views just 4 miles from Charlottesville. MLS#635483 $1,275,000 Jim Faulconer, 434.981.0076

MURPHY’S CREEK FARM

Wonderful gently rolling parcel of land with just under 26 acres, 18 miles south of Charlottesville. The land is wooded (mostly hardwoods) with an elevated building site, stream/creek, total privacy, and long road frontage. MLS#619394 $229,500 Steve McLean, 434.981.1863

GREENTREES

94+ acres 20 minutes from Charlottesville. Originally part of a 188-acre tract, two parcels may be purchased separately or together, with 2 developmental rights each. Mostly maturing pine and very long public road frontage.

MLS#635861 $700,000 Tim Michel, 434.960.1124

LYNX FARM LANE

Great building lot in Ivy! Over 2.5 acres less than 6 miles to Charlottesville and UVA. Your future dream home could sit on this beautiful, wooded land, the perfect combination of country and city access. Murray Elementary School District. MLS#634897 $165,000 Steve McLean, 434.981.1863

EDNAM FOREST

Wonderfully large 1.5+ acre building lot in Ednam Forest. Build your dream home on this elevated, wooded lot located in a single family community, minutes from UVA and within walking distance to Boar’s Head Resort. MLS#598537 $289,500 Steve McLean, 434.981.1863

BROOMFIELD FARM

RED HILL

ESTATE PARCEL IN AFTON

WESTWOOD ROAD

The Water view dominates the interior spaces from most rooms in this fabulous, new, waterfront residence. Expansive views from two full length decks promise hours or days of relaxation. The front door opens to the great room with wood burning fireplace and hardwood floors. A bright open kitchen with gorgeous counter tops and appliances. Complete one floor living with master suite featuring a walk-in shower and double vanities. 2 additional bedrooms with a full bath. The terrace level offers more water views, even from the laundry room! A large family room, an additional bedroom and full bath round out the finished rooms. Large unfinished room can serve as storage, studio, or workshop. $500,000

CHURCH PLAINS DRIVE

Beautiful 2.15 acre lot set in a quiet neighborhood, in the western school districts. A bright open floor plan with vaulted entrance and a turned staircase. 4 bedrooms, 2.5 baths, full unfinished basement plus a large 2 car garage. Hardwood floors throughout the first floor. Large, bright kitchen with island, pantry, and terrific