The massive Biscuit Run development is on hold (archived: 2009).
Biscuit Run will remain on hold until the economy improves, said Steve Blaine, an attorney representing the project.
“The business climate is such that it’s not in the investor’s best interest to proceed with development at this stage,” Blaine said.
…
“To launch a phase of a development of that size is taking a huge level of risk,” Blaine said. “We want to make sure that it’s the right environment to launch the next phase. We’re not in that environment right now.”
At the very least, this removes some uncertainty from the Charlottesville real estate market – and that is a very, very good thing. Uncertainty is bad.
More on Biscuit Run here at RealCentralVA and comprehensive coverage at Charlottesville Tomorrow.
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I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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