Biscuit Run will remain on hold until the economy improves, said Steve Blaine, an attorney representing the project.
â€œThe business climate is such that it’s not in the investor’s best interest to proceed with development at this stage,â€ Blaine said.
â€œTo launch a phase of a development of that size is taking a huge level of risk,â€ Blaine said. â€œWe want to make sure that it’s the right environment to launch the next phase. We’re not in that environment right now.â€
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.