This Is Why I'M STILL BULLISH On Charlottesville, Virginia

This Is Why I’M STILL BULLISH On Charlottesville, Virginia

I know, as CVillians, we are concerned about the loss of WillowTree, Inc. to Albemarle County and the disturbing demise of Keith O. Woodard‘s West2nd project, a $50-million mixed used development and the proposed future home of The Charlottesville City Market on Water Street.

However, this is why I’M STILL BULLISH on Charlotesville, Virginia. This is why I am still going to invest more of my money into Charlottesville from a real estate, job creation and entrepreneurial standpoint:

(1). The unemployment rate dropped to 2.7% in July, 2018 across Central Virginia. One year ago, in July, 2017, the unemployment rate was 3.6% in Central Virginia.
(2). Housing supply is at a low, but demand to purchase homes in Central Virginia is still red hot, especially on the Southside of CVille. It’s a seller’s market.
(3). Coran Capshaw continues to CRUSH IT with real estate development. Along with his 5th Street Station development, home to Wegmans, Timberwood Tap House, Alamo Drafthouse Charlottesville, Chimm – Thai & SouthEast Asian Street Food, Extreme Pizza – Charlottesville, Fuzzy’s Taco Shop and much more, Coran is developing an apartment complex in Belmont, a posh $1 million – $1.4 million row house development down Water Street near Beer Run, and a corner commercial development across from high-trafficked Barracks Road Shopping Center. Of course, there are more developments in the mix, including his development across from The Shops at Stonefield. Coran is a pace-setter in CVille. In a lot of ways, Coran Capshaw is the CVille market.
(4). Jaffray Woodriff is developing a world-class technology incubator on The Charlottesville Downtown Mall, a 6-story tech hub called, “Charlottesville Technology Center.” CTC will house Woodriff’s angel stage and Series A investments, including many at the CVille level.
(5). The Eleven:30 Condominiums at East High Street, a mixed use commercial and residential development by Roger L Voisinet’s team, is doing well. This team has sold every unit they have built, an excellent indicator of a prosperous economy.
(6). Vacancy rates along The Downtown Mall and The UVa Corner are basically 0.0% When leases become available, they are scooped-up quickly.