Lynchburg city

Lynchburg's Seminary Hill is beginning to see the benefit of a $600,000 grant the Virginia University of Lynchburg received last year. The grant came from the U.S. Department of Housing and Urban Development (HUD) and is to be used to revitalize the community surrounding the university.

Nine homes were selected for rehabilitation with no cost to the owners. Work began in June, when workers demolished a house on Campbell Avenue and replaced it with a modular home.

Projects like this benefit the entire neighborhood. The improved homes make the area more attractive, and can spark an increase in the values of surrounding homes.

Read more in The Lynchburg News & Advance....

Thelma Drake, director of the Virginia Department of Rail and Public Transportation, hopes that the Richmond-Norfolk passenger train, slated to start running in three years, will be as successful as the new Lynchburg-Washington service. The Commonwealth Transportation Board has approved $93 million to fund needed track upgrades. "We think it's money well spent," said Drake, "And we think we'll have Lynchburg-like success."

The number of passengers using the Amtrak service launched in October out of Lynchburg has far exceeded expectations, topping its annual ridership goal in just six months.

Increased transportation options between metropolitan areas benefit homeowners by making commuting and recreational travel easier and more pleasant. Prospective homebuyers take such options into consideration, and homes close to transportation hubs may see a bump in value as a result.

Read more in The Virginian-Pilot....

While it isn't as strong as it was before the recession, new home construction in Lynchburg is starting to rebuild, aided in part by the recently expired homebuyer's tax credit. Nationally, new construction dropped off when the tax credit ended in May, but Lynchburg builders say they have not seen a significant decline.

Buidling permits tell the story: 63 building permits for new residential construction were issued for the Lynchburg area in April, down from 66 in April 2009. In May: 79 permits for new residential construction were issued, compared to only 62 in May 2009.

Read more in The Lynchburg News & Advance....

The new passenger train running between Lynchburg and Boston is on track to exceed officials' goal of 51,000 riders for the year, and could exceed annual revenue estimates by $260,000.

The train runs between the two cities every day, with stops twice daily in Manassas.

Homeowners in small cities and nearby suburban areas benefit from convenient travel options to larger metropolitan areas. Such options make area properties attractive to commuters.

Read more from The Charlottesville Daily Progress....

The city of Lynchburg has passed a $373 million budget that includes no new real estate taxes. Budget shortfalls caused by state cuts were made up with cuts to most city departments and the elimination of 65 positions, most of which are currently vacant. Cuts to vital services, including the police and fire departments, were avoided.

The budget maintains current funding levels for the schools and public bus system. It also contains $1 million to renovate the roof and gym of Heritage High School.

Homeowners benefit from low real estate taxes, provided they are balanced with sufficiently funded schools and emergency services.