December 2022 transactions: Industrial block in Rose Hill neighborhood sells for $12.75M; Orangedale duplex sells for $270K

The final summary of Charlottesville property transactions for 2022. What have you learned this year?

How will the final month of 2022 turn out? As I write these words, I have not yet begun compiling this list. I do this work manually and it takes a lot of time to go through. In the early days of this publication, I had more time! Now I’m expanding to Fifth District Community Engagement. There’s a lot less real estate in that one. At least for now. 

I’ve produced these monthly property transaction summaries for two years now and I know I still have a lot to learn. I don’t yet understand all of the mechanisms by which properties trade hands, but I know it’s more important than ever to pay attention to what’s happening. For a community where housing is on the minds of many, I intend this list to be a way for people to know what’s happening.

It has been nearly two years since Charlottesville adopted an Affordable Housing Plan that “contains immediate, short-term, and longer-term recommendations to advance affordable housing.” That includes $10 million in city-funding for various programs including direct contributions for financing, a rewrite of the zoning ordinance to make it easier to build new houses, and a restructuring of housing policy committees. (view the plan)

It has been 14 months since Council adopted a Future Land Use Map that grants more development rights for every property in Charlottesville, and the rezoning rewrite underway now will have the details of how that will work out. These details are really important for as many people to know as possible if the plan is to achieve its equity goals.

The Future Land Use Map marks the areas more prone to displacement. Since the map was adopted, what work has been to protect property owners who may not have access to capital?

I will write about the rezoning process while I continue doing these on-going summaries in 2023. I am as interested in the actual as I am the theoretical. And every property owner in Charlottesville is about to receive their assessment for 2023. That’s about as actual as you can get. I don’t make predictions, but invite you to review the hundreds of transactions I’ve written about this year.  Just remember Albemarle County’s assessments are up 13.46 percent for 2023.

As always, paid subscribers get a first look at this work. I will put this up on Information Charlottesville on Monday. That should be around the time that the 2023 assessments will be ready. I’m grateful for those who are helping me dedicate my life to this work and to keep my eye on as much as I can. For the rest of you, take a look at the other 23 of these summaries to date.