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Plan to rebuild U.S. 460 gets a push from Gov. McDonnell

The on-again, off-again plan to rebuild U.S. 460 in an effort to ease traffic congestion had been given a boost by Governor McDonnell. "I want a public-private partnership that begins, that is well thought-out, that is either approved or imminently to be approved by the Commonwealth Transportation Board" by summer, McDonnell said.

That's good news for Hampton Roads homeowners, who have been bedeviled by heavy traffic along the route.

Because there are limited state funds to contribute to the project, any construction plan will likely include the collection of tolls along the completed roadway.

Read more in The Virginian-Pilot....

Posted on Wednesday, April 14, 2010 - 5:28pm

Fort Lee to see dramatic growth this summer

The Base Realignment and Closure process will spur growth at Fort Lee this summer, and nearby Petersburg is expected to benefit from the influx of soldiers and their families.

Melissa Magowen, deputy to the garrison commander, told an audience of about 60 local government officials and business leaders to expect Fort Lee's population to grow toward the target level of 45,000 next year from about 15,000 before the expansion began.

Although the post will provide some housing and other services, military families are expected to shop for homes and services in Petersburg as well. The boost to the local economy will help strengthen the housing market.

Read more in the Progress Index...

Posted on Thursday, April 1, 2010 - 6:15pm

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

VRE express train could bypass county stops

Prince William County, Va. - A plan to run an express commuter train from Fredericksburg to Washington, operated by Virginia Railway Express, drew criticism at this week's Prince William Board of County Supervisors meeting. At a cost of about a $500,000 already in VRE's 2011 budget, the train could begin operating in July. The express, which would get riders to Washington's Union Station 25 minutes faster than any other VRE train, would be the first train to leave Fredericksburg, at 5:05 a.m.

It would stop twice in Stafford County and then make stops at Alexandria, Crystal City, L'Enfant Plaza and Union Station, skipping the five stations in Quantico, Prince William and Fairfax counties. Passengers who board VRE trains at the Woodbridge station have long faced standing-room-only conditions.

VRE spokesman Mark Roeber said there was "not a lot of clamor from residents of Prince William County for the express train," but there is very high demand from riders who live "in the further extremities," like Stafford and Spotsylvania counties, who aim to get to work earlier.


Read the full story...

Posted on Thursday, March 4, 2010 - 12:09pm

Great Deals for Richmond-area Homeowners

Want to update your home? Two upcoming events can help you get a great deal on materials and home decor.

Two upcoming Richmond-area events will benefit homeowners and the local Habitat for Humanity, according to the Richmond Times-Dispatch.

Contractor Sale

"Hanover Habitat for Humanity and the central Virginia chapter of the National Association of the Remodeling Industry will hold a contractor yard sale Oct. 24 from 8 a.m. to 2 p.m. at the Hanover Habitat for Humanity office at 8177 Mechanicsville Turnpike.

Area contractors are invited to drop off priced items -- such as windows, doors, countertops, cabinets, plumbing fixtures, lighting and flooring --Tuesday through Thursday. Items will be stored until the sale. On the day of the sale, contractors should bring tables, cash for change, a tent in case of inclement weather and business cards. There is no cost to participate, but you may donate a portion of your proceeds to NARI or Habitat for Humanity.

To sign up, e-mail info@naricentralva.org or call (804) 641-1438. The groups are also looking for sponsors to help with advertising costs. Sponsors will be recognized on a banner at the sale."

Rug for a Rug

"Capel Rugs, located at 3995 Deep Rock Road in Henrico County, has partnered with Richmond Metropolitan Habitat for Humanity for its "Trade In, Trade Up" event today through Oct. 31. Shoppers who bring gently used rugs to the store will receive savings on new area rugs. Donations benefit the Richmond Habitat for Humanity ReStore.

For each rug donated, shoppers will receive 25 percent off their purchase of a new area rug and a tax donation receipt from the Richmond Habitat ReStore if the rug is reuseable. The store's staff will be available to help customers unload used rugs Monday through Saturday from 10 a.m. to 6 p.m"

Read the original article.

Posted on Wednesday, October 21, 2009 - 5:32pm

Parade of Homes Kicks Off This Weekend in Metro Richmond

This weekend marks the laungh of this year's Parade of Homes in Richmond and the Tri-Cities area, according to the Richmond Times-Dispatch.

The homes on display range in value from $170,000 to $1.5 million, and also use a variety of energy efficient materials.

Many homeowners enjoying looking at the Parade of Homes to keep them informed on designs and materials being used in new homes. For any homeowner in the Richmond and Tri-cities area looking to renovate or update their home, this would be a great place to get ideas.

"The annual Parade of Homes kicks off this weekend, showcasing new homes by builders in the Richmond and Tri-Cities area.

In all, 71 homes by 36 builders will be open for viewing the next three weekends from noon to 5 p.m.

This year's event is pared down from last year, when 130 homes by 60 builders were on display, as the housing slump continues to hammer the industry.

'We're fortunate to have this many entries,' said Victoria Moody with the Home Building Association of Richmond, the parade's organizer.

The annual Parade of Homes has been held since 1951. This year's 71 houses mark the fewest number since 1984, when 68 homes were open for touring.

'This is your best opportunity to see every type of new home imaginable, showcasing the latest in designs, construction techniques and materials, at prices ranging from $170,000 to $1.5 million,' according to promotional material.

This year's tour includes one of the country's first houses for entry-level buyers certified for energy savings by the National Association of Home Builders through the National Green Building Program.

The house, built by First Richmond Associates, is on the market for $209,500. It is certified at the bronze level, the lowest of four levels."

Read the full story.

Posted on Thursday, October 1, 2009 - 4:08pm

Chesapeake Bay Reports Call For More Livestock, Runoff Regulations

Last week federal officials released parts of a strategy to restore the Chesapeake Bay, according to NewsDay.com.

The report focuses on expanding regulation of large-scale animal farms and municipal stormwater runoff. Although details of the expanded regulations have not been decided, the report did mention that federal leadership and "muscle" would be used when necessary to enforce the new regulations.

This report, along with others wll be used to develop a bay restoration strategy scheduled for release on Novemeber 9th.

Because many of the Virginia localities in the Chesapeake Watershed are heavily farmed areas, many Virginia property owners could be affected. Property owners will need to ensure that their rights are protected in the process of restoring the Chesapeake Bay.

"Federal officials on Thursday began revealing the building blocks of a strategy to restore the Chesapeake Bay, using federal leadership to encourage states to cut pollution and federal muscle, when necessary, to ensure it happens.

Among recommendations in draft reports from federal agencies: expanded regulation of large-scale animal farms and municipal stormwater runoff, and requirements that increases in pollution be offset by reductions from other sources.

The details, such as how many more animal feeding operations would be regulated, have not been decided, but 'the message here is that there will be, there is a commitment at EPA to increased enforcement and increased oversight of state programs,' EPA Administrator Lisa Jackson said Thursday.

The reports will be used to develop a bay restoration strategy, scheduled for release Nov. 9, that was mandated by an executive order issued earlier this year by President Obama.

The EPA said it was working with Chesapeake Bay states and the District of Columbia to establish limits for nitrogen, phosphorus and sediments. States would have to develop detailed plans on how to reduce levels of those pollutants from sources such as farms, highways and lawns. The EPA said it would step in if states don't take sufficient action.

While large operations such as industrial chicken farms would be regulated, the EPA said it would also expand regulation of municipal stormwater programs to include high-growth areas.

Jackson said the goal was to use federal leadership, and 'federal muscle when necessary.'

Agriculture is responsible for about half the pollution entering the bay, but Jackson noted there is more turf grass in the bay watershed than corn acreage and the region is much different from when bay restoration efforts began decades ago."

Read full story.

Posted on Monday, September 14, 2009 - 10:50am

VA School Construction Projects Share $71.6M in Bonds

More than $71 million in federal bonds are going to eigh projects in the state to help with school construction, according to WTKR.

This is good news for all area homeowners, even those who don't have children in these schools that will get the assistance. Improvements to schools help to make neighborhoods more marketable to new families.

"Eight projects in Virginia are sharing more than $71 million in federal bonds for school construction.

The no-interest bonds were established by the American Recovery and Reinvestment Act. They are available to localities for K-12 school construction, renovation and land acquisition for schools.

Gov. Tim Kaine said Thursday that the bonds are part of about $191 million authorized for Virginia through the Qualified School Construction Bonds program in 2009.

The projects receiving the bonds are in Petersburg, Portsmouth, Lynchburg, Lexington, and Richmond, Fluvanna and Montgomery counties.

Allocation of the funds were made at Kaine's discretion. Later this fall, he will announce the use of the rest of the 2009 funds. Virginia expects to receive an additional $191 million from the program in 2010."

Read orginal article.

Posted on Friday, September 11, 2009 - 5:13pm

Old Hotel in Petersburg Has a New Owner

The former Rodeway Inn off of E. Washington Street in Petersburg went to auction yesterday and has a new owner, according to the Progress-Index.

United Structure Fabrication out of Canada gave the winning bid of $600,000. The owner was drawn to the auction because he had heard Petersburg is a beautiful town, and after placing the highest bid he stated his plans were not to demolish the hotel (as other bidders had planned), but instead wants to update the hotel with renovations.

Being just off I-95 places the hotel in a prime location for capturing travelers. Hopefully the revonations will make the hotel more appealing and boost the local economy.

"The bidding opened at $300,000, and just over three minutes later the gavel banged to signal a winning bid of $600,000 for the former Rodeway Inn.

About 30 people gathered Wednesday afternoon at the motel at 405 E. Washington St. to bid for the 120-room property, or to watch the action at the trustee's foreclosure auction.

Before the auction, Steven Karbelk, president of National Commercial Auctioneers, said the hotel had drawn potential bidders from as far away as Canada. And it was a Canadian company, with partners in New York, that ended up giving the top bid.

The company is United Structure Fabrication, a construction firm based in the Toronto area. Owner Muhammad Khan said he decided to come to Petersburg to look at the hotel because 'I heard it was a very beautiful town.'

Some of the other bidders had been planning to demolish the existing hotel and build a new one from scratch if they ended up winning the high-profile site next to Interstate 95. But Khan said his plan is to 'do some rework to bring it up to date and make a good profit.'

According to Petersburg property tax records, the hotel previously sold in 2004 for $2.6 million. The assessment for tax purposes this year is $2.7 million."

Read full story.

Posted on Friday, August 28, 2009 - 11:38am

Petersburg Hotel to be Auctioned Today

An independently owned hotel in Petersburg will be auctioned off today after poor management landed the property in foreclosure. The 120-room hotel is still open and taking reservations according to the Richmond Times-Dispatch.

Hopefully the auction will place the hotel in the hands of better-skilled operators who can enhance the local economy and provide quality service. Area homeowners can look at this as an opportunity for growth that will make a difference in improving property values.

"In the market for a 120-room hotel? If so, one off Interstate 95 in Petersburg is available -- for the right price.

The independent hotel at 405 E. Washington St. is in foreclosure and will be auctioned off Wednesday by National Commercial Auctioneers.

'It's basically been mismanaged. Obviously, the property is being foreclosed on, so they're not paying their bills,' said Fernando Palacios, regional vice president for Tulsa, Okla.-based National Commercial Auctioneers. 'The property is still open and they're still taking reservations. People are still staying there; it's not like it is closed down or shut down.'

Devasha Hospitality LLC purchased the hotel on Oct. 15, 2004, for $2.5 million.

According to Petersburg real estate records, the 2009 proposed value of the land and building is $2.7 million. There is a $153,093 lien on the property and the building is being auctioned as is."

Read full story.

Also, check out the Progress Index's story about a second Petersburg hotel going to auction today.

Posted on Wednesday, August 26, 2009 - 8:04am