Of all the streets in a changing Charlottesville, Cherry Avenue may be one to watch closely to see how the new Comprehensive Plan might translate into a denser Charlottesville.
While the stretch from Ridge Street to Roosevelt Brown has always seemed ripe for eventual redevelopment, all of the properties from the 1000 block to the Cherry Avenue Christian Church are now colored light brown in the Future Land Use Map for “Middle-Intensity Residential.”
The map’s legend says the idea is to “increase opportunities for housing development including affordable housing along neighborhood corridors, near community amenities, employment centers, and in neighborhoods that are traditionally less affordable.”
Under current rules, most of those lots are restricted to one or two units at most, but that number will increase to eight or more depending on how the new zoning code is written. That process is expected to be completed in the summer, but Neighborhood Development Services Director James Freas said he reserved the right for delay if there are any legal issues.
So far, there has not been a land rush to pick up the properties, but it is worth taking a look at real estate activity in 2022.
On May 4, a company called Copper Fox REI LLC purchased 1210 Cherry Ave. for $185,000, and sold the property to Tribe Property Solutions LLC the same day for $217,000.
On October 5, 2022, Benco LLC purchased 1505 Cherry Ave. for $250,000. Two months later, on December 13, the property was sold to Meade Construction LLC for $250,000. Benco LLC purchased it again the same day for $280,000 before selling it the next day to Laurel Oak Properties LLC for the same price.
In 2022, there were two sales on this part of Cherry Avenue that were not to corporate entities. A property at 1526 Cherry sold on March 10 for $350,000, about 17.71 percent below the assessed value. Another at 1514 Cherry Ave. was purchased for $251,000, which is 12.11 percent below assessment.
The commercial section of Cherry Avenue also had two notable purchases, both to Woodard Properties. With the exception of some properties at the intersection of 7 ½ Street, these lots are all in the Neighborhood Mixed Use Corridor, which calls for “neighborhood-scaled mixed-use areas arranged along corridors that support existing residential districts.”
In August, a company associated with Woodard Properties paid $3.5 million for the former IGA building across from Tonsler Park. In November, another Woodard LLC bought an undeveloped 0.25 acre lot at 716 Cherry Ave. for $150,000.
That continues the company’s significant investment in Fifeville’s commercial strip. In 2021, Woodard purchased both the Cherry Avenue Shopping Center and a nearby vacant lot. In addition, the company has significant holdings between 7 ½ Street and Fifth Street.
The zoning rewrite will also dictate how those lots can be redeveloped when and if Woodard Properties opt to redevelop that land. Last year, the company invested in a new facade for the Cherry Avenue Shopping Center, and installed new lights at the vacant lot. It also recently allowed a public trail to cross its land from Tonsler Park to the Blue Ridge Commons housing development.
Anthony Woodard of Woodard Properties said his company’s goal is to bring “thoughtful development” to Fifeville.
“For over 40 years, we have worked in Fifeville, where 75 percent of our housing portfolio is affordable, and where we also provide land and community support for efforts like the IRC New Roots garden program and the Fifeville Trail,” Woodard said.