Demand for Virginia Beach Age-Restricted Housing Drops

According to the Virginian-Pilot, Virginia Beach builders are indicating that the demand for the beach age-restricted housing is almost non-existent.  Such developments were a win-win for the locality. The additional population increased their tax base and revenue while minimizing the impact on facilities such as schools, as they did not usually have residents with school-aged children. Home builders are now asking to the City Council to drop the age-restriction and proceed with regular development, which has prompted mixed feelings from Council members questioning the impact on roads and schools.

 

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Posted on Monday, January 18, 2010 - 2:28pm