Council to consider funds for market study of land slated for apartments
The Charlottesville City Council meets tonight for a very full meeting. Check out yesterday’s Week Ahead for all of the details, but one item on the consent agenda is worth giving some attention.
Council will be asked to spend $3,800 to hire a firm to conduct an appraisal of three parcels of land along the Rivanna River off of East High Street for which a private developer has filed filed for 245 apartment units.
“The appraisal will include sufficient information to understand the basis for the provided value taking into account market value for undeveloped land, the allowed uses of the property under zoning, and the costs associated with the necessary improvements to the property in order for it to be developable,” reads the staff report.
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