Home
Syndicate content

Chesterfield County

VDOT approves I-295 interchange for Chesterfield County

A proposal to create an interchange at Interstate 295 and Meadowville Road in Chesterfield County has been approved by the Virginia Department of Transportation and advertised for construction bids. The interchange should open by late 2011.

The interchange will allow easy access to the recently built Meadowville Technology Park. Officials say the interchange will make the 1,300-acre park more attractive to major companies and could result in around 7,000 jobs for the region. The projected boost to the local economy would likely have a positive impact on area home values.

Read more in the Richmond Times-Dispatch....

Posted on Wednesday, July 7, 2010 - 8:36pm

Chesterfield County residents feeling the pinch

Residents in Chesterfield County are feeling the impact of budget cuts that took effect on July 1. Library hours have been cut back, fees for curbside recycling have been introduced, and convenience center hours have been slashed.

Beginning this week, all library branches except Central Library will be closed Thursdays. There are also 35 fewer library employees to serve the public. The cuts in staff and hours are needed to offset a 17% reduction in the library budget -- the deepest felt by any county department.

Also effective Thursday, a $25 annual fee will be charged to each household to for county's biweekly curbside recycling program. The fee will be added to real estate tax bills.

Read more in the Richmond Times-Dispatch....

Posted on Thursday, July 1, 2010 - 8:18pm

In Chesterfield County, Bexley resident sues over new HOA

 

Joseph A. Romito is suing his neighborhood homeowners association over a change in the community's covenants, which now require him to join the association and pay $175 in annual dues.

In the lawsuit, Mr. Romito asserts when he moved Bexley 20 years ago he was not required to join the HOA, and there was no indication that he would ever be required to do so.

Read more in the Richmond Times-Dispatch....

 

Posted on Friday, April 30, 2010 - 2:52pm

Chesterfield County citizens working on a comprehensive land-use plan

Chesterfield CountyChesterfield County is looking to consolidate 22 individual area plans into one detailed land-use plan for the entire 446-square-mile county. The county's unified plan was last updated in the 1980s.

Since that time, new building projects have outpaced the growth of infrastructure in some areas. A good unified plan would benefit current and future homeowners by ensuring a balance of commercial and residential use. That balanced development would, in turn, ensure a diverse tax base that could support needed services and infrastructure.

Read more in the Richmond Times-Dispatch....

Posted on Monday, April 26, 2010 - 5:54am

Homeowners at risk for foreclosure offered free counseling in Richmond

The Federal Reserve Bank of Richmond, Housing Opportunities Made Equal of Virginia Inc., and the city of Richmond will co-sponsor a clinic for homeowners who may be at risk of foreclosure. Free foreclosure and fraud-prevention counseling will be offered, and homeowners will get to meet with a HUD-approved counseling agency to work on solutions to help them stay in their homes.

According to February data from McDash Analytics, 5.85% of the loans in Richmond area were more than 90 days past due. The average for Virginia is 4.92%.

Read more in the Richmond Times-Dispatch....

Posted on Thursday, April 22, 2010 - 8:27pm

A new look at housing affordability in Virginia

The Center for Neighborhood Technology has released its Housing and Transportation Affordability Index, which factors in the cost of transportation when calculating the cost of living in greater metropolitan areas.

Traditionally, a home is considered affordable if the yearly mortgage payments are about 30% of the homeowner's annual salary. The H+T (Housing + Transportation) Affordability Index suggests that a more realistic measure would factor in transportation costs. Using their model, a home would be considered affordable if the mortgage payments plus transportation costs (car, fuel, public tranportation, etc.) come to about 45% of the homeowner's annual income.

Virginians living in the close-in suburbs largely fare well, according to the CNT model. Roanoke boasts combined housing and transportation costs of just 44% of the area median income (AMI), Charlottesville 43%, and Lynchburg 49%. The Richmond metro area generally falls into the affordable range at 39% of AMI, with the exception of some outlying parts of the surrounding counties. Most of the Hampton Roads is considered less affordable, with housing and transportation taking up more than half of the AMI, with Norfolk the exception at 42%. 

The Northern Virginia area is more affordable according the the H+T model. For example, transportation costs in Alexandria come to about 15% of the local median income.

Wondering how your home stacks up? Homeowners in the Washington metro area can put their addresses into this calculator to find out or read the Washington fact sheet at the Center for Neighborhood Technology.

Check out other regions on this interactive map.

Posted on Friday, March 26, 2010 - 11:52am

Chesterfield County budget down 2.1% from last year

Chesterfield County's spending from the general fund will be down for the second year in a row -- 2.1% less than last year -- dropping to $700.4 million. This year’s budget dropped to $714 million from $749 million in 2009.

About 45% of the general fund comes from real estate taxes. According to Jonathan Davis, the county’s director of real estate assessments, residential assessments are down 4% from November 2009 to January this year.

Read more at the Chesterfield Observer....

Posted on Wednesday, March 17, 2010 - 4:05pm

Chesterfield Cuts Could Force Closure of Governor’s Schools

Both of central Virginia's full-time governor's schools could face closure or major cut backs in operations if Chesterfield County no longer participates in them, according to the Richmond Times-Dispatch.

Chesterfield is facing it's own budget crisis and deciding where to make cutbacks, and sending students to the governor's schools is a popular option among employees.

The loss of these two schools could greatly impact the quality of education in the area because they provide opportunities not found in traditional high schools - which is a draw for families. Unique, quality educational programs are key for protecting property values, so even homeowners who do not have children in either of the governor's schools could be harmed by their closing.

"Central Virginia's two full-time governor's schools could face severe changes or even closure if Chesterfield County eliminates its participation in them.

Chesterfield school officials sent a survey to its employees Tuesday asking them to choose ways to cut nearly $40 million from its proposed fiscal 2011 budget.

Among the many options is to stop sending students to Appomattox Regional Governor's School for Arts and Technology in Petersburg and Maggie L. Walker Governor's School for Government and International Studies in Richmond.

In an impact statement accompanying the survey, Chesterfield acknowledges that if it ends its participation at the governor's schools, a $2 million savings, 'this option would likely result in both schools closing.'

Chesterfield is the largest school division represented at both schools. This year, the county has 224 students at Maggie Walker and 129 at Appomattox. Overall, that represents about one-third of the total students at each school.

'As the largest contributor of students and funds to these regional schools, we understand that not participating would have deep ramifications," Chesterfield schools spokesman Shawn Smith said yesterday. "It would put a tremendous burden on other school divisions, one that we realize may not be sustainable in these economic times.'

Appomattox's budget for fiscal 2010 is $4.4 million, and the school receives a little more than $1 million from the state. Maggie Walker's 2010 budget is $7.7 million, with about $1.9 million coming from the state."

 

Read the full story.

Posted on Friday, January 8, 2010 - 4:44pm

Hampton Roads Home Sales Soared While Prices Slid Last Month

The Virginian-Pilot reported some good news about the housing market in Hampton Roads.

Home sales in the area soared while buyers rushed to beat the deadline for the first-time buyers federal tax credit.

The tax credit has been extended, and expanded to include current homeowners who wish to move into a different home.

Get details about the current federal tax credits for home buyers that expire on April 30, 2010.

"Home sales in South Hampton Roads soared as prices slid during November as first-time buyers rushed to beat the now-extended deadline for a federal tax credit, according to a report released Wednesday.

Last month's sales volume was up 5.1 percent from October and 87 percent over November 2008, according to Real Estate Information Network Inc.

The Virginia Beach-based multiple listing service reported 1,164 homes in the region sold in November, compared with 623 a year earlier.

Despite increased sales, home prices continued to fall, partly reflecting activity by first-time buyers at the low end of the market. The multiple listing service reported that the median price for existing homes in November was $199,950, down 7 percent from a year ago and at the lowest point in 10 months.

November marked the six month in a row of growth in local home sales and the biggest year-over-year gain in 2009. The rebound contrasts with the market a year ago, when sales were plummeting amid deteriorating economic conditions."

Read the full story.

Posted on Thursday, December 10, 2009 - 10:26pm

Chesterfield Has Seen an Increase in Number of Self-storage Facilities

At least one business has been growing in size over the past couple of years. The number of self-storage facilities in Chesterfield County has increased, according to the Chesterfield Observer.

This is good for homeowners because it's a service that they may need, but also because the growing industry is a boost the local economy and the new business contribute to the county's tax base.

"While many businesses are faltering in these tough economic times, at least one industry is continuing a slow but steady growth in Chesterfield County: self-storage facilities.

In the last two years, as the economy worsened, the number of self-storage businesses in Chesterfield grew from 31 to 35 facilities, a healthy 13 percent growth rate, according to Timothy J. Dietz, vice president of communications and government relations for the Alexandria-based National Self Storage Association. Nationally, the industry’s growth has remained more or less flat in the same period."

Read the full story.

Posted on Wednesday, November 4, 2009 - 7:27pm