Wells Fargo has foreclosed on the Bundoran Farm development, Bryan McKenzie writes for the Progress. Over three square miles of the development—presumably not including the parcels already sold—will be sold on the steps of the courthouse next week. The developer says that their partners, who provided the money for the development, had “their other investments…hit hard and they had liquidity issues and couldn’t meet the lender’s requirements”—or, in English, they didn’t have the money to pay their mortgage. Wells Fargo says that they’re hopeful that the development will continue in its current rural style, with large lots and ongoing agricultural interests, but what with selling it, what they hope for probably doesn’t much matter.
News and meta-news about Charlottesville, VA, since 2001.
Sideblog
Police announced this afternoon that their investigation into what was initially believed to be a fatal fire on Rugby Avenue is now a homicide investigation. #
The Virginia Supreme Court has denied George Huguely’s appeal. His second-degree murder conviction will stand, WRIC reports. #
In a carefully worded story, and not citing specific sources, WTVR reports that forensic evidence belonging to Jesse Matthew Jr., the main suspect in the disappearance of Hannah Graham, matches forensic evidence collected during the investigation of Morgan Harrington’s 2009 murder. #
In the wake of Hannah Graham’s disappearance, and the evidence that came from private security footage, city officials are revisiting the question of installing security cameras on the downtown mall. #
Both Charlottesville Registrar Sheri Iachetta and former Electoral Board member Stephanie Commander have turned themselves in to the police on
foursix and four felony counts of embezzlement, respectively. #Ten years ago, the National Institutes of Health budget doubled and schools like the University of Virginia built massive new research facilities. A decade later, those buildings remain largely underutilized. NPR visits UVA in this story on the effect of federal binge and spurge spending in the sciences. #
In 2012, Council approved a new student housing complex on West Main—now some council members are questioning whether what they were shown matches what was built. #
The Architectural Review Board has approved a bike-themed mural on West Market, below the McGuffey Art Center, although at least one member expressed concerns that it might look like the bicyclists were riding away from Charlottesville’s downtown. #
City Police Chief Tim Longo is meeting with city leaders to work on protocols regarding the use of military surplus police weapons in Charlottesville. #
A 100-year-old Colonnades resident received military honors for her service in the WWII Women’s Army Corps #
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“Wells Fargo says that they’re hopeful that the development will continue in its current rural style, with large lots and ongoing agricultural interests, but what with selling it, what they hope for probably doesn’t much matter.
Hopefully there are deed restrictions in place that would guarantee that just such a thing, continued development consistent with the current rural style, will continue. If not, those who bought and or built already aren’t going to get what they paid for.
To my knowledge, there are no such restrictions in place. From Fred Scott’s 2005 letter to his neighbors:
“March 3, 2005 … It is with great pleasure and hope for a bright future that I report that Bundoran Farm is under contract to be sold to Qroe Farm, a preservation development company. The terms are cash and there are no seller-imposed restrictions on the property. This sale is not conditional on any rezoning. That’s the same way we Scotts bought it, long ago.”
Reference: http://www.ballyshannon.com/qroe.html
The article says “Bundoran Farm is a low-density, 100-lot rural residential community with the majority of its acreage protected under easements and deed restrictions that limit future development and are intended to preserve the site’s agrarian charm.” I don’t know what that really means. Hmm.