Three years and nearly months have now passed since Charlottesville City Council adopted an affordable housing plan that laid the foundation for a Future Land Use Map which grants more development rights throughout almost the entire city. For instance, properties zoned Residential-A can build two more market-rate units per lot without asking for city approval. That’s a lot of potential wealth for those who understand what they are doing.
However, a last-minute addition to the Development Code last fall was the creation of the Residential Core Neighborhood A zoning district to restrict development rights.
“The Residential Core Neighborhood A (RN-A) district is established in recognition of the significance of historic Downtown neighborhoods that provide workforce housing serving important job centers of Charlottesville’s Downtown and the University of Virginia,” reads page 13 of the Development Code. “These neighborhoods are recognized in the City for their affordability and for the diverse range of households that have been able to make their homes there.”
Properties with this designation are only allowed one unit per lot unless the existing structure is kept. Only then do they get a second. If all of the units are affordable under city definitions, there can be as many as six units.
These properties were first called out for special recognition in the Comprehensive Plan as “Sensitive Communities” that needed protection from gentrification and speculative buying.
“Sensitive Community Areas are places throughout Charlottesville that include concentrations of community members who may be demographically sensitive to displacement pressures and potentially most at risk for displacement,” reads page 27 of the Comprehensive Plan.
The “Sensitive Communities” label was not carried on to the zoning, but the intent is still there.
The proximity of these properties to Downtown Charlottesville and the University of Virginia add an intrinsic value to those who can afford to pay. I’m not sure how to measure such subjective qualities, but I look at every single property transaction in Charlottesville to see how well the philosophies that fueled the Cville Plans Together initiative pan out.
This month, there are four transactions in Residential Core Neighborhood A lots. What happened?
Paid subscribers to my newsletter get a first look as one of the only “premium” pieces of content I offer. In a few days, I’ll post this for free to Information Charlottesville, but putting this work behind a paywall is one way I hopefully entice more paid subscriptions to make sure I can continue to keep doing this work. I believe it is crucial to record the aftermath of the most seismic shift in Charlottesville land use in a generation.
The primary reason I began doing these property transactions a few years ago was to monitor these specific areas after becoming aware of properties being purchased way below assessment. There is a lot of money to be made in property. If one side of a transaction does not have information or information is withheld, the playing field is not equitable.
It is far too early to determine if the new Development Code will yield more affordable units that are not highly subsidized. However, the affordable housing plan morally commits the City Council to spend $10 million a year toward construction and maintenance of new units that will be built by nonprofit developers.
Council has kept up its end of the bargain by awarding both the Piedmont Housing Alliance and the Charlottesville Redevelopment and Housing Authority millions of dollars to help finance the cost of construction of new units. For instance, CRHA is counting on $5 million a year in FY26, FY27, and FY28 to help finance the redevelopment of Westhaven. Piedmont Housing Alliance has several more projects anticipated to be partially financed by city taxpayers. Is this information widely known?
Council’s ability to make direct payments of cash to nonprofit or public developers has been aided by several years of revenue surpluses caused in part by a property market that has had steep assessment increases Council has also increased the real property tax rate by three cents in the past two years. At the tail end of the FY25 budget cycle, elected officials hinted more tax increases are on the way.
We can’t know what Charlottesville will look like in the years to come. We can get a sense of the direction through these property transaction summaries. Thanks to paid subscribers for allowing me to be able to do this work full time. Please ask questions and leave comments below. The whole point of this is to increase awareness of how land use works.
March 1, 2024
- A three bedroom house built in 1993 in the 700 block of Nalle Street sold for $445,000. That’s 12.35 percent above the 2024 assessment of $396,100 and 59.27 percent above the 2020 assessment of $279,400. (Residential Core Neighborhood A, 0.08 acres)
- A 785 square foot one-bedroom condominium in Walker Square sold for $325,000. That’s 13.92 percent above the 2024 assessment of $285,300 and 50.6 percent above the 2020 assessment of $215,800. (Residential Mixed Use 5, N/A)
- Evergreen Homes Builders bought six lots in the Lochlyn Hill neighborhood on January 19, 2023 for $800,415. One of the finished products with a Pen Park Lane address sold for $839,947. The structure is a four bedroom townhouse. (Residential-A, 0.046 acres)
- A one bedroom condominium with 704 square feet at 820 East High Street sold for $290,000. That’s 8.98 percent below the 2024 assessment of $318,600 and 19.69 percent above the 2020 assessment of $242,300. (Node Mixed Use 8, N/A)
March 5, 2024
- A three bedroom house built in 1961 on Peartree Lane in the Locust Grove neighborhood sold for $359,950. That’s 2.35 percent below the 2024 assessment of $368600 and 38.18 percent above the 2020 assessment of $260,500. (Residential-A, 0.306 acres)
- A three bedroom house built in 1958 on Carter Lane in the Greenbrier neighborhood sold for $410,000. That’s 10.11 percent below the 2024 assessment of $456,100 and 21.66 percent above the 2020 assessment of $337,000. (Residential-A, 0.268 acres)
- A two bedroom house on Forest Hills Avenue that consists of 792 square feet sold for $375,000. That’s 50.3 percent above the 2024 assessment of $249,500. A gas powered water heater was replaced in 2019. (Residential-B, 0.17 acres)
- A three bedroom condominium at 200 Douglas Avenue with 1,616 square feet sold for $865,000. That’s 4.48 percent below the 2024 assessment of $905,600 and 70.38 percent above the 2020 assessment of $507,700. (Residential Mixed Use 3, N/A)
March 6, 2024
- A single family detached house on Paynes Mill Road in the Ridge Street neighborhood sold for $630,000. That’s 2.34 percent above the 2024 assessment of $615,600. The house was built in 2020 and the first official valuation of the property was $584,200 in 2021.(Residential-A, 0.17 acres)
March 7, 2024
- A four bedroom house built in 1964 on Hillwood Place in the Greenbrier neighborhood sold for $859,000. That’s 10.17 percent above the 2024 assessment of $779,700. The entire house was remodeled in 2023 for an estimated cost of $175,000. The 2022 assessment was $457,700. (Residential-A, 0.39 acres)
- A four bedroom house built in 1987 on Brandywine Drive in the Greenbrier neighborhood sold for $540,000. That’s 8.46 percent below the 2024 assessment of $589,900 and 26.76 percent above the 2020 assessment of $426,000. (Residential-A, 0.29 acres)
- A three bedroom house built in 1925 on 1st Street S in the Ridge Street neighborhood sold for $455,000. This property is in between Oakwood Cemetery and the Ix building. The sales price is 12.4 percent above the 2024 assessment of $404,800 and 179.31 percent above the 2020 assessment of $162,900. There are no permits associated with this property. (Neighborhood Mixed Use 8, 0.144 acres)
- A three bedroom townhouse on Brookwood Drive built in 2009 sold for $370,000. That’s 5.13 percent below the 2024 assessment of $390,000 and 25.76 percent above the 2020 assessment of $294,200. (Residential-C, 0.035 acres)
- A single family attached house built on Midland Street in 2011 sold for $446,000. That’s 6.95 percent above the 2024 assessment of $417,000 and 59.4 percent above the 2020 assessment of $279,800. The first sales price for this house was $215,000 in April 2013. (Residential-A, 0.086 acres)
March 8, 2024
- A 937 square foot apartment with two bedrooms in a building at 602 Cabell Avenue sold for $301,000. That’s 4.41 percent above the 2024 assessment of $288,300 and 35.59 percent above the 2020 assessment of $222,000. This is in the Venable neighborhood. (Residential Mixed Use 5, N/A)
- A newly built four bedroom single family home built on Hartmans Mill Road sold for $884,591. The estimated cost of construction is listed as $495,000 according to the city’s building permit search. (Residential-A, 0.442 acres)
- An 1,808 square foot townhouse with two bedrooms built in 2004 on Druid Avenue in Belmont sold for $403,000. That’s 12.51 percent above the 2024 assessment of $358,200 and 59.86 percent above the 2020 assessment of $252,100. (Residential Mixed Use 3, N/A)
March 11, 2024
- A three bedroom house built in 1954 on Meade Avenue in the Woolen Mills neighborhood sold for $340,000. That’s 3.66 percent above the 2024 assessment of $328,000 and 34.23 percent above the 2020 assessment of $253,000. (Residential-B, 0.172 acres)
- A three bedroom house on Oak Street built in 1983 sold for $295,000. That’s 10.61 percent below the 2024 assessment of $330,000 and 13.72 percent above the 2020 assessment of $259,400. (Residential Core Neighborhood A, 0.26 acres)
March 12, 2024
- A three bedroom house on Essex Road built in 1959 in the Greenbrier neighborhood sold for $890,000. That’s 30.25 percent above the 2024 assessment of $683,300 and 69.52 percent above the 2020 assessment of $525,000. (Residential-A, 0.402 acres)
- A four bedroom house in the 700 block of Locust Avenue in the Martha Jefferson neighborhood sold for $950,000. That’s 36.28 percent over the 2024 assessment of $697,100 and 68.86 percent above the 2020 assessment of $562,600. (Residential-A, 0.145 acres)
- An 829 square foot two bedroom condominium at 1608 Monticello Avenue sold for $250,000. That’s 9.08 percent above the 2024 assessment of $215,900 and 54.04 percent above the 2020 assessment of $162,300. (Residential Mixed Use 3, N/A)
March 14, 2024
- One area of Charlottesville to focus on as the new Development Code is implemented is the Jefferson Park Avenue neighborhood. Properties with that designation are between the University of Virginia and the Fontaine Research Center which is being expanded to accommodate the Paul and Dianne Manning Institute for Biotechnology. What will the possibility of more density mean for that area to support the growing public institution?
The first corporate purchase of a property in March was on this day at 106 Carrollton Terrace. The firm Brandon Monroe LLC purchased the three bedroom house built in 1946 for $500,000. That’s 8.01 percent over the 2024 assessment of $462,900 and 69.43 percent above the 2020 assessment of $295,100. The LLC traces back to a rental company. No new permits have been filed thus far. (Commercial Mixed Use 5, 0.115 acres) - Another 829 square foot unit in the Monticello Overlooks complex sold for $239,000. That’s 4.28 percent above the 2024 assessment of $229,200 and 47.26 percent above the 2020 assessment of $162,300. (Residential Mixed Use 3, N/A)
March 15, 2024
- A three bedroom house built in 1952 on Rutledge Avenue in the Barracks / Rugby neighborhood sold for $695,000. That’s 10.33 percent above the 2024 assessment of $629,900 and 53.83 percent above the 2020 assessment of $451,800. (Residential-A, 0.267 acres)
- A three bedroom house in the 800 block of Anderson Street in the 10th and Page neighborhood sold for $530,000. To understand the assessments, let’s look back in time a bit. The house was built in 1925. Fifty years later, someone bought the property for $20,000. In April 2011, someone bought the house for $83,000. That was about 25 percent under the assessment of $110,000.
This new owner began to put work into the house with a new deck, interior revisions, and modified plumbing in the first two years. The HVAC system was replaced in 2015 as was the structure. Before the sale, the foundation was replaced to support 2nd floor joists. This work led to higher valuations, with a 2023 assessment of $276,900 climbing to $496,100 in 2024 making this transaction 6.83 percent over the amount. (Residential Core Neighborhood A, 0.09 acres) - The Ronald McDonald House purchased a former automotive repair shop at 316 9th Street SW in Fifefille for $700,000. That’s 119.16 percent above the 2024 assessment of $319,400. For more details, check out a story I wrote in the March 27, 2024 C-Ville Weekly. (Commercial Mixed Use 3, 0.11 acres)
- A four bedroom house built in 2004 on Burnet Street in the Ridge Street neighborhood sold for $575,000. That’s 9.71 percent above the 2024 assessment of $524,100 and 43.39 percent of $401,000. (Residential-A, 0.096 acres)
- A three bedroom house built in 1956 on Forest Ridge Road in the Fifeville neighborhood sold for $395,000. That’s 42.6 percent above the 2024 assessment of $277,000 and 109.55 percent above the 2020 assessment of $188,500. (Residential-A, 0.179 acres)
- Heldig LLC is the new owner of 800 Shamrock Road, a six bedroom house built in 1981 in Johnson Village. The sales price is 37.21 percent above the 2024 assessment of $338,900 and 66.31 percent above the 2020 assessment of $279,600. (Residential-A, 0.238 acres)
March 19, 2024
- A four bedroom house on Dairy Road in the Barracks / Rugby neighborhood sold for $620,000. This property declined in value from 2023 to 2024 going from $655,300 to $621,000. The recent transaction is thus 0.16 percent below the 2024 assessment. (Residential-A, 0.305 acres)
- A necktie-shaped property on Stribling Avenue in the Fry’s Spring neighborhood sold for the exact 2023 assessment of $455,600. The assessment increased to $470,800 in 2024, making this transaction 3.23 percent above that figure. There’s a structure on the property built in 1981 that has four bedrooms. (Residential-B, 0.657 acres)
March 20, 2024
- Another single family detached house on Paynes Mill Road in the Ridge Street neighborhood sold for $805,000. That’s 26.89 percent above the 2024 assessment of $634,400. The house sold for $528,020 in May 2020 shortly after it had been built. (Residential-A, 0.38 acres)
March 21, 2024
- A four bedroom house in the 2200 block of Greenbrier Drive sold for $525,000. That’s 14.06 percent above the 2024 assessment of $460,300 and 55.28 percent above the 2020 assessment of $338,100. (Residential-A, 0.31 acres)
- A mixed-use building at 108 2nd Street SW in Downtown Charlottesville sold for $1.6 million to a firm called Echo Ignition LLC. This is the address for the restaurant Alley Light and there’s also an apartment in the building. The transaction is 32.14 percent above the assessment of $1,210,800. The last time this building sold was in June 2013 for $800,000. (Downtown Mixed Use, 0.05 acres) (this item was updated to correct the address which was originally listed as NW)
March 22, 2024
- A three bedroom house on Bennett Street in the Lochlyn Hill development sold for $745,000. That’s 15.09 percent above the 2024 assessment of $647,300 and 30.27 percent above the 2020 assessment of $571,900. (Residential-A, 0.07 acres)
- A two bedroom unit in Walker Square with 1,119 square feet sold for $410,000. That’s 8.81 percent above the 2024 assessment of $376,800 and 38.94 percent above the 2020 assessment of $295,100. (Residential Mixed Use 5, N/A)
March 25, 2024
- An entity called 1108 E. Jefferson LLC purchased 1108 East Jefferson for $400,000. The four bedroom house was constructed in 1925. The sales price is 67.29 percent above the 2024 assessment of $239,100. There’s a sad story to the house as it was condemned for many years, and Samantha Baars wrote up a good story in C-Ville Weekly in February 2016. (Residential-A, 0.212 acres)
March 26, 2024
- A four bedroom house built in 1946 on Westwood Road sold for $1.185 million. That’s 6.29 percent above the 2024 assessment of $1,114,900. In 2020, the city assessed the property at $668,900. That makes this sales price 77.16 percent over that value. (Residential-A, 0.36 acres)
March 27, 2024
- A three bedroom house built in 1955 on Holmes Avenue sold for $470,000. That’s 17.88 percent above the 2024 assessment of $398,700 and 60.9 percent above the 2020 assessment of $292,100. (Residential-A, 0.147 acres)
- A three bedroom house built in 1925 on the corner of Dice and 4th Street SW sold for $625,000. That’s 23.47 percent above the 2024 assessment of $506,200 and 55.82 percent above the 2020 assessment of $401,100. This property was listed in February The only permit visible in the city’s application portal is an application for a provisional use for which there are no details except that the paperwork was handed in. The house also sold in February 2018 for $405,000. (Residential Core Neighborhood A, 0.078 acres)
- A two bedroom house built in 1925 on 1st Street South sold for $336,500. That’s 44.73 percent over the 2024 assessment and 115.43 percent over the 2020 assessment. This property also borders Oakwood Cemetery. (Node Mixed Use 8, 0.08 acres)
March 28, 2024
- A two bedroom house on Mulberry Avenue in the Fry’s Spring neighborhood sold for $440,000. That’s 5.09 percent above the 2024 assessment of $418,700 and 50.94 percent above the 2020 assessment of $291,500. (Residential-A, 0.172 acres)
- A two bedroom house built in 1947 at 1623 Mason Lane is now owned by 1623 Mason Lane LLC. The entity also purchased the property at the 2024 assessment of $333,600. Bullseye? Hole-in-one? Good negotiation skills? Anyway, The transaction is 41.36 percent above the 2020 assessment of $236,000. (Residential-A, 0.132 acres)
- A property on Concord Avenue in the Rose Hill neighborhood with two structures sold for $740,000. That’s 10.83 percent above the 2024 assessment of $667,700. In 2020, the assessment was $376,000 making this transaction 96.81 percent above that valuation. One structure is a three bedroom house built in 1945. The other is a one bedroom cottage built in 2019. (Residential-A, N/A)
- A three bedroom unit in the Charlottesville Towers at 1st Street North sold for $315,500. That’s 13.28 percent below the 2024 assessment of $363,800 and yet 22.19 percent above the 2023 assessment of $258,200. (Residential Mixed Use 5, N/A)
March 29, 2024
- One of the stand-alone homes on East Water Street between Downtown and Carlton Avenue sold for $1,825,000. That’s 24.11 percent above the 2024 assessment of $1,470,500. This unit last sold in March 2019 for $1,351,686. (Commercial Mixed Use 5, 0.05 acres)
- A two bedroom house built in 1951 on East Jefferson Street sold for $435,000. That’s 39.92 percent above the 2024 assessment of $310,900. That does not tell the whole story. A search of the development portal shows that a building permit was applied for and issued, but only after a stop work order had been issued last June. Interior renovations estimated at $50,000 were put in once the paperwork was turned in and approved. (Residential-A, 0.153 acres)
- A three bedroom house built in 1995 on Ashby Place in the Locust Grove neighborhood sold for $479,000. That’s 0.13 percent above the 2024 assessment of $478,000 and 16.32 percent above the 2020 assessment of $412,100. (Residential-A, 0.22 acres)
- An entity called Vadekmaa Ouns VA LLC purchased 1610 Emmet Street North for $8.5 million. That’s 0.24 percent below the 2024 assessment of $8,520,700. This is the site of the Days Inn Hotel. On the same day, there was another deed of easement between this property and 1600 Emmet Street North. That’s the site of the Country Inn and Suites. (Node Mixed Use 10, 1.64 acres)
- A two bedroom house on Rosa Terrace in the Ridge Street neighborhood sold for $221,000. That’s 3.46 percent above the 2024 assessment of $213,600 and 60.03 percent above the 2020 assessment of $138,100. (Residential-A, 0.112 acres)
- A three bedroom townhouse built in 2009 on Brookwood Drive sold for $430,000. That’s 12.13 percent above the 2024 assessment of $383,500 and 49.05 percent above the 2020 assessment of $288,500. (Residential-C, 0.048 acres)
- A four bedroom house built in 2015 on Burnet Way in the Ridge Street neighborhood sold for $640,000. That’s 12.78 percent above the 2024 assessment of $567,500 and 37.78 percent above the 2020 assessment of $464,500. (Residential-A, 0.06 acres)
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