There are several future University of Virginia buildings currently under construction on Ivy Road on land owned that had originally been purchased by the University of Virginia Foundation.
The Karsh Institute of Democracy, the Virginia Guesthouse, and three residential buildings are being constructed on land that had previously been home to businesses or homes who for a time paid rent to the foundation. The School of Data Science now stands just to the west of where the Cavalier Inn used to be.
Other properties owned by the UVA Foundation continue to exist such as those in the Ivy Square Shopping Center which a subsidiary called Ivy Square of Charlottesville LLC purchased for $20 million in December 2021.
On December 18, the UVA Foundation purchased 2100 Ivy Road at the intersection of Alderman Road, Copeley Road, and Ivy Road. They paid $2.625 million for the 0.47 acre property which is currently home to a Wells Fargo. The UVA Foundation pays real property taxes for its land, whereas land transferred to the University of Virginia is tax exempt. UVA is not required to submit its plans to the City of Charlottesville for approval.
UVA was unable to purchase 2117 Ivy Road across the street which is being developed as a ten story student apartment complex. City Council approved a rezoning for the project in December 2023 on the same night a new Development Code was also approved.
Earlier this year, the UVA Foundation purchased three properties on Arlington Boulevard for $10.5 million including a location of the University of Virginia Credit Union.
Other stories of note on this topic:
- UVA panel endorses site for new North Grounds parking garage, Darden student housing, March 7, 2024
- UVA to build two new residence halls with 2,000 units on Emmet Street, Ivy Road, May 27, 2024
- Plans unveiled for UVA’s new residence halls slated for Ivy Road corridor, December 5, 2024
- UVA Finance Committee signs off on North Grounds Parking Garage, Ivy Road student housing, December 11, 2024
- UVA Building and Grounds Committee approve North Grounds Parking Garage, add Ivy Road student housing project to Major Capital Plan, December 7, 2024
- Joy recaps UVA capital projects for Charlottesville Planning Commission, December 18, 2024
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