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 accessed 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 accessed value of $209,800. Go figure.