The Charlottesville Redevelopment and Housing Authority has appeared to have fallen short in its attempt to get financing for two planned redevelopment projects in a current funding cycle.
Virginia Housing, the entity that authorizes low-income housing tax credits in Virginia, has issued its final rankings for this year pending approval by their Board of Commissioners later this month.
Charlottesville City Council has voted to officially cancel the $55 million West Main Streetscape project as well as other projects in an effort to get the city’s transportation house in order.
The Virginia Department of Transportation will now administer a project to extend a turn lane at Route 250 and Hydraulic Road. A project to coordinate traffic signals on Emmet Street has also been canceled, as has a Smart Scale funded project at the intersection of Preston and Grady.
The details were discussed at a work session with the Planning Commission on May 24. (read my story)
“While this is called cancellation of those projects, that’s in regards to the funding with VDOT, so as discussed, especially some of the safety projects, these are not going away forever, they’re just going away as Smart Scale projects,” said City Engineer Jack Dawson.
The University of Virginia is moving forward with an initiative to use property owned by its real estate foundation to create units that will be reserved for people whose incomes are below the area median income.
The UVA Foundation issued a request this morning for qualifications from firms to develop two separate projects, including a two-acre site on Wertland Street. The other is a 12-acre site on Mimosa Drive known currently as Piedmont.
“UVA/UVAF intends to enter into a ground lease with one or more development team(s) best suited to satisfy UVA/UVAF’s requirements and desired features,” reads the request for proposals.