Bookmark this! South Lawn demo watch
As UVA's South Lawn project begins to lower its big footprint on the neighborhood behind New Cabell Hall along Brandon Avenue and Valley Road, pricey properties are meeting the wrecking ball. To keep track of the demos, bookmark this blog post, as we'll be sure to let you know what's going down.
Another one to come down
Neighborhood Development Services staff report that R.J. Smith Construction Inc. has applied for a permit to demolish 405 A & B Valley Road. No word yet on how much UVA paid for the duplex, as accessement records still list the previous owners.
January 23, 2007
South Lawn project demos continue
It appears the UVA Foundation got a deal on 407 Valley Road, another property scheduled for demolition to make way for the South Lawn project. As the Hook recently reported, UVA has paid some hefty sums for houses in the project’s path, including $1,000,000 for 434 Brandon Avenue, a 1,813 square-foot two-story assessed at $461,800. Granted, assessments never come close to reflecting the real market value of a property, but $538,200 over assessment?!
However, UVA paid only $449,575 last October for the 407 Valley Road property, a 1,843 square-foot two-story on 0.113 acres. That’s only $239,775 over its assessed value of $209,800. Go figure.
Brandon Avenue’s $1,000,000 winner!
Buying a Scratch Game lottery ticket isn’t the only way for locals like Tiger Fuel Co. employee Donnie Ward to win a million bucks– you could also be a property owner lucky enough to be in the way of UVA’s South Lawn project.
To make way for the $160 million project, several demolitions will commence this month near the intersection of Valley Road and Brandon Avenue. According to Tim Rose, CEO of the UVA Foundation– the arm of the school that handles its real estate holdings– a total of nine properties in the neighborhood are scheduled for demolition. Just last week, one of the project’s contractors, R. J. Smith Construction, applied for demo permits to take down the four houses pictured in this post– 434 and 501 Brandon Avenue, and 408 and 502 Valley Road. “Most of them will come down this month,” says Rose, “a few in June or July.” More