Curious Questions II - 29 North Development Build Out

Are all these new developments off 29N actually going to be completed and sold out?

That’s a fun question.

Continuing to answer questions about the Charlottesville real estate market; this is Part II

I’m going to assume that the questioner is asking about the Brookhill and North Pointe developments. There are probably more things happening in the 29 North Corridor, and you can do some virtual digging at Albemarle County’s County View site (no longer available).

Brookhill

“Brookhill is a 277 acre mixed-use development between Polo Grounds Road and the Forest Lakes Community on Route 29 in Albemarle County. The site offers direct access to nearby jobs, amenities and outdoor recreation.”

Cvillepedia has a ton of information on Brookhill, including a link to this pdf showing the master plan for the community.

North Pointe

“Centrally located in the Route 29 corridor across from the UVA Research Park, North Pointe is a prime location for Charlottesville living. North Pointe offers walking and biking trails throughout the community, and residents will have instant access to Blue Ridge Mountain views and the Rivanna River right from their backyard. Residents don’t have to choose between living in a nature-minded community and being close to the exciting lifestyle the city has to offer: North Pointe has it all! With a variety of housing types to choose from, North Pointe has a perfect house, apartment, condominium and more for all price points, ages and lifestyles.

RST Residences

Thanks to Alison Wrabel at the Daily Progress for this; (read the whole thing) while not commercial, it fits into the 29 North conversation.

A proposed new development could bring 370 apartments and townhomes to U.S. 29 near Forest Lakes.

More than 25 people attended a virtual community meeting on Monday where RST Development explained the proposal and answered questions.

The developer is requesting a rezoning of the 19.51 acre property at the intersection of U.S. 29 and Ashwood Boulevard from R-1 residential to Planned Residential Development and wants to build 254 apartments and 108 town houses.

The property, which is currently home to Ridgewood Mobile Home Park, was purchased by Virginia Beach-based RST Development last year for $6 million.

In Albemarle’s Places29 Master Plan, which is part of the county’s Comprehensive Plan, most of the property is shown on the future land use map as urban density residential, which recommends density of between six and 34 units per acre. A portion of the property along U.S. 29 is designated as open space.

Short answer?

I think they will be built out. They’re going to offer mixes of residential – for renters and owners, and commercial/mixed use space, and I think an assisted living facility is going in as well. The Charlottesville – Albemarle market has slowed a bit thanks to COVID-19, but ultimately, I think we’re going to be fine. The Charlottesville area remains a great place to live, (as noted in the results of Albemarle County’s recent community survey) and while we have some economic struggles now and ahead of us, I suspect we’re

I do have questions about the commercial market, which is another asked question that I’ll address later.