What do you do if you can’t sell a condo to save your life around Charlottesville and Albemarle County? Try to sell ‘em in Culpeper. Condo sales plummeted in Ablemarle last year, declining 66 percent. But Charlottesville-based Octagon Partners are betting that Culpeper’s downtown historic district will be different. The company is investing $10 million to remake an 1920s warehouse into a 22-condo complex, with retail space on the ground to boot. Prices will range from $243,000 for a one-bedroom unit to $489,000 for a three-bedroom penthouse. Developer J.P. Williamson, of “Lake Hollymead” fame, is a partner with Octagon. The name of the project? Waters Place.
Previous "This Just In" articles from this week:
Area shotputter headed to Olympics [April 15]
Won silver in 2000 and 2004