Southern Development buys six lots at North Pointe
The University of Virginia Foundation has purchased an additional acre of land on Airport Road, immediately to the east of the southern stem of the North Fork Discovery Park.
On August 7, the Foundation paid $850,000 for 1761 Airport Road which contains a three bedroom house built in 1964 on 1.05 acres of property. The Albemarle County Assessor’s office considers this an invalid sale which means it will not be counted in calculations of the 2025 reassessment. Still, this transaction is 152.53 percent above the 2024 assessment of $850,000.
The seller is Airport Auto Investments Phase 3, an entity that still owns several adjacent parcels.
The land is adjacent to a 467.523 acre parcel owned by the Foundation that includes the entirety of frontage for the eastern side of Lewis and Clark Drive. In 2020, the foundation completed a $6 million extension of the roadway to Airport Road. Lewis and Clark Drive will eventually connect to Berkmar Drive Extended after a 0.4 mile extension is completed.
That project has a cost estimate of $19,157,000 according to the Virginia Department of Transportation’s Six-Year Improvement Program. VDOT has provided $11,569,987 from three specific sources and the balance will come from Albemarle County’s transportation leveraging program. The project is in design according to Albemarle County’s transportation dashboard.
Here are some other transactions from August 2024 so far:
- A single family detached house on Heather Court in the Briarwood neighborhood sold for $295,500. That’s 26.07 percent above the 2024 assessment of $234,400 and 52.79 percent above the 2021 assessment of $193,400. (Rivanna District, 0.09 acres, August 2, 2024)
- A four bedroom house on Locke Lane built in 1990 in Forest Lakes sold for $453,000. That’s 5.84 percent above the 2024 assessment of $428,000 and 33.12 percent above the 2021 assessment of $340,300. (Rivanna District, 0.21 acres, August 5, 2024)
- A four bedroom house built in 1905 on Mill Grove Lane in North Garden sold for $1.25 million. That’s 27.2 percent above the 2024 assessment of $982,700. (Samuel Miller District, 5.36 acres, August 6, 2024)
- A newly-built townhouse on Sweetbay Street in Southwood sold for $462,250. This three bedroom unit was constructed by Atlantic Builders Limited. That’s 9.2 percent above the 2024 assessment of $423,300. (Samuel Miller District, 0.03 acres, August 6, 2024)
- A newly-built four bedroom house built by Evergreen Home Builders on Arrowhead Valley Road sold for $993,857. (Samuel Miller District, 6.39 acres, August 6, 2024)
- A four bedroom townhouse on Lake Forest Drive built in 1974 sold for $345,000. That’s 29.75 percent below the 2024 assessment of $491,100. The 2021 assessment is $375,700. This is recorded as a valid sale. (Rio District, N/A, August 7, 2024)
- A three bedroom house built in 1994 on Brownsville Road sold for $750,000. That’s 28.67 percent above the 2024 assessment of $582,900. (Samuel Miller District, 2.17 acres, August 7, 2024)
- Southern Property purchased six lots scattered across the North Pointe development for $1,086,977. (Rivanna District, 0.96 acres, August 7, 2024)
- A four bedroom house built in 1989 on Amberfield Court in Forest Lakes sold for $566,500. That’s 15.59 percent above the 2024 assessment of $490,100 and 41.73 percent above the 2021 assessment of $399,700. (Rivanna District, 0.44 acres, August 8, 2024)
- A three bedroom house built in 1987 and remodeled in 2023 on Cove Garden Lane sold for $339,750. That’s 42.27 percent above the 2024 assessment of $238,800 and 79.86 percent above the 2021 assessment of $188,900. (Samuel Miller District, 2.12 acres, August 8, 2024)
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