Development
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New Home Construction (For Sale or Rent) Is Likely The Only Path Towards A More Balanced Local Housing Market |
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Over the past two (to five) years the local real estate market has seen... [1] More and more homes selling. [2] Higher and higher sales prices. [3] Higher and higher rental rates. Over the past six months, mortgage interest rates have increased significantly (from around 3% to nearly 6%) and yet... [1] We're still seeing just about the same number of homes selling. [2] Sales prices keep climbing. [3] Rental rates keep climbing. One conclusion that I keep coming back to in recent weeks and months is that... There are more people who want to live in Harrisonburg and Rockingham County than there is housing in which they can live. Generally speaking, when demand for housing exceeds supply, prices go up... that's what we're been seeing over the past few years. So, what's the answer? If there are 134,000 people living in Harrisonburg and Rockingham County, but there are 140,000 or 150,000 who would like to live here... ...the only path towards a more balanced housing market is to have... ...more homes. So, whether it's new homes being built to be sold... or new homes being built to be rented... that will help bring balance to our local housing market. It's certainly not clear how much more housing is needed, in what locations, or of what property types, sizes, or prices... but overall, more housing needs to be created (built) to account for the ever increasing number of people who would like to live in this area. | |
Almost 1,700 New Homes (or home sites) Are Being Developed or Built in Harrisonburg and Rockingham County With Another 4,000 Planned or Proposed |
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LOTS of new housing is currently being developed in Harrisonburg and Rockingham County... though mostly in Rockingham County. Below are most that I am aware of, with approximate unit counts, though you can find it in spreadsheet form, with some links, here. 369 Apartments
647 Townhouses & Duplexes
287 Single Family Detached Homes or Home Sites
This is not to mention the 4,314 homes that are being planned or proposed...
The important, and perhaps unanswerable, big questions are... [1] Is enough housing being built or planned to support a growing population? [2] Is too much housing being built or planned beyond what our growing population needs? [3] Is the right type, size, and price of housing being built? | |
800 Mixed Income Housing Units Planned For Bluestone Town Center |
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800 (or more) new housing units may soon be coming to Garbers Church Road and Erickson Avenue... at Bluestone Town Center... potentially featuring...
This is a potential joint venture between the Harrisonburg Redevelopment and Housing Authority (not the City of Harrisonburg, but a "political subdivision of Virginia") and Equity Plus (a private entity seemingly out of Mississippi). This potential residential development is intended to offer...
Find out more about this potential development by visiting BluestoneTownCenter.com or by attending the informational session on June 7th (today) from 4:00 PM to 6:00 PM at the Lucy Simms Auditorium. Updated... Daily News Record, June 8, 2022
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Lake Shenandoah Stormwater Control Authority to Construct New Taylor Spring Detention Basin |
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If you live in the Lake Shenandoah Drainage Area you are currently paying an additional tax alongside your real estate tax... with the new tax going to the Lake Shenandoah Stormwater Authority. The tax per property is based on $0.08 per year per square foot of rooftop area and went into effect in December 2020. Also in 2020, Rockingham County purchased a 28.878 acre property within the Lake Shenandoah Drainage Area for use as a stormwater storage area. Now, more details have emerged via an invitation to bid that closes today. Per the government documents, work is to be completed by December 1, 2022. This new stormwater facility will be located on land that is currently undeveloped between Barrington, Kentshire Estates, Lakewood, Taylor Spring and Taylor Grove subdivisions in the area outlined in pink/purple above. View engineering plans for the stormwater facility by clicking the image below... Update 5/26/2022: Rockingham County rejects single bid received | |
New Home Construction Is Ramping Up in Harrisonburg and Rockingham County |
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New home sales are on the rise in Harrisonburg and Rockingham County! After a 39% increase in new home sales in 2020, we saw an even larger 68% increase in 2021. What does 2022 have in store when it comes to new home sales? As of 5/19/2022 there have only been 77 home sales thus far this year... but there are 220 new homes under contract! Assuming all of those sell this year, we'd be at 297 new home sales for 2022, before any others that will come on the market in the coming months. New homes being built is one of the only ways we will be able to get out of this low inventory housing market. There are more people who want to live in Harrisonburg and Rockingham County than there are homes to house them. Keep on building, builders, keep on building! ;-) | |
Harrisonburg Redevelopment and Housing Authority in Planning Stages of a 1,000 Unit Housing Development Across From Harrisonburg High School |
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Specific details are still relatively limited, but the Harrisonburg Redevelopment and Housing Authority is planning a LARGE development on land that stretches from Erickson Avenue to Garbers Church Road. Here are some of the details that have been made public thus far...
More details here. Stay tuned for more details as they are made public. | |
Where Are All Of These New Proposed Residential Developments Located? |
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There are approximately 1,700 new homes being built or to be built in active residential developments... ...and approximately 4,400 new homes planned or proposed in residential developments that are not yet actively being developed. Where are they all located? You'll find an interactive map of them here... You'll find additional details about the developments here... Let me know if I missed anything on the list. | |
Rezoning Requested for 48 Apartments on Chicago Avenue, Behind La Morena |
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The City of Harrisonburg Planning Commission will consider a rezoning request and special use permit request this week (3/9/2022) to allow for the construction of 48 apartments on 2.32 acres on Chicago Avenue behind La Morena. City staff recommends the approval of the rezoning request and special use permit. Download all the pertinent documents from the City here. In other apartment related news, City Council will review a request for a 156-unit apartment complex called The Edge on East Market Street today. | |
156 Apartments Proposed at The Edge in Harrisonburg on East Market Street |
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The developer of The Colonnade (intersection of E Gay St and Mason St) and Preston Lake Apartments (still under construction adjacent to Preston Lake) is requesting a rezoning to allow them to build 156 apartments in the City of Harrisonburg on East Market Street across from Ciro's. This development would tie in the the eastern end of Franklin Street (which is not directly connected to the main portion of Franklin Street that you're likely thinking about) to East Market Street. Portions of the property are currently zoned B-2 (for business) and portions are zoned R-2 (for lower density residential development) but the developer would like all of it to be rezoned R-5 to allow or this high density residential development. They are also then requesting a special use permit to build apartments in buildings with more than 12 apartments per building. They plan to build 156 apartments in eight buildings -- so almost 20 apartments per building. A few details of note from the proposal...
The City of Harrisonburg Planning Commission will consider this proposed rezoning and special use permit on Wednesday, February 9th. City staff recommends approving the request with a few conditions. You can download all of the related documents here. | |
73% Of Homes Being Planned or Proposed for the City of Harrisonburg Are... Apartments! |
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There are lots of new residential communities being planned, discussed or proposed in the City of Harrisonburg. As shown above, most will be apartments. Below is a brief overview of planned or proposed residential housing developments in the City of Harrisonburg. Keep in mind that some of these proposals are quite recent and some have been around as possible developments for quite a few years. It is uncertain or when any of these will actually take shape and be developed.
Did I miss anything? What should be added to the list, updated on the list or removed from the list? You can find more details about most of these developments (and about many in Rockingham County) in list form here and map form here. | |
111 Affordable Housing Apartments Proposed on Lucy Drive |
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The Woda Cooper Companies, out of Ohio, are requesting the rezoning of a 4.731 acre parcel on Lucy Drive to allow them to build affordable workforce apartments. The apartments would be targeted to households that have incomes between 30% and 70% of the Area Median Income. This apartment complex would not have any market-rate apartments (normal market rent) and would not have any student housing apartments. A few other details from the proposal include:
The buildings would include:
For this development to move forward, the parcel (which is currently zoned R-3) would need to be rezoned to R-5. The parcel in question is situated between B-1 zoned land and townhouses. City staff recommends the approval of this rezoning, and next it will go before the Planning Commission for their review and consideration. Download a full packet of information about this proposal here. Here's another view of the site plan of the proposed development... | |
274 Apartments Plus a Parking Garage Proposed For Regal Cinemas Parking Lot |
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The owner of the 9.5 acre parcel on which Regal Cinemas (and it's enormous parking lot) are situated is requesting a change in the Harrisonburg zoning ordinance, and the approval of a special use permit, to allow them to build two apartment buildings and a parking garage. Rest easy, though, movie fans -- they do not have any intentions of modifying the existing Regal Cinemas structure. The apartment building is intended to be approximately 72.5 feet tall -- with the parking deck being 54 feet tall. Here's the planned site plan... Click on either of the images above in this article and you can access a larger version of the image. You can see a few additional renderings of the parking garage, etc. by downloading the full Special Use Application Packet from the City. | |
Updates On Rezoning Proposals For Several Proposed Residential Communities |
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A few updates today on proposed residential communities in Harrisonburg and Rockingham County... Harrisonburg's City Council approved the development of a six story apartment complex on Peach Grove Avenue. The prior approval allowed for one level of commercial space which was converted to more apartments in the updated approval. This development is now planned to be a 460 bedroom apartment on 5.44 acres. The Rockingham County Board of Supervisors tabled a request for a rezoning that would have allowed for 95 townhouses at Massanutten Resort. The intended developer of a proposed 155 home neighborhood in McGaheysville withdrew their request for a rezoning to allow for the development. The Rockingham County Board of Supervisors approved a rezoning request to allow for an additional apartment building at the Altitude apartment complex. | |
Townhomes Now Under Construction In Phase Two of The Townes at Congers Creek |
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view larger photo here Have you driven by The Townes at Congers Creek lately? These newly built townhouses are located on Boyers Road just minutes from Sentara RMH Medical Center. (full disclosure - I represent the builder) The first phase of The Townes at Congers Creek is complete, with 26 townhomes plus a common area including a pavilion, patio, fire pit and basketball hoop. Construction is now beginning on townhomes in the second phase, and the first 20 townhomes are already under contract. Here's a view of the current site work under way on the second phase... view a larger photo here Learn more about this exciting townhouse community by viewing current availability, walking through the model home, viewing the standard features and upgrades. If you have questions, or if you'd like to schedule a time to view the model home in person, call/text me at 540-578-0102 or email me. | |
Preston Lake Urgent Care Center Under Construction |
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If you have drive by the Exxon at the corner of Stone Spring Road and Spotswood Trail lately you have likely seen the building under construction next door. That building will be... an Urgent Care Center. In the site plan submitted to the County it was called Preston Lake Urgent Care Center... ...though per the County tax records, the property is owned by MPB INC out of Norfolk, which seems to be a branch of Sentara. I'm sure more details will come to light as construction wraps up in the coming months. | |
The Phoenix at Harrisonburg, A Senior Living Community, Viewed From Above |
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view a larger photo here If you have wondered what is being built at the intersection of Boyers Road and Stone Spring Road (on the opposite side of Stone Spring Road from Preston Lake) it's a Senior Living Community called The Phoenix at Harrisonburgwhich intends to open early next year. Per the the Phoenix Development Group Partners website, this community will include...
The community will also include "exterior amenities such as a bocce ball court, covered pavilion with fireplace and grill station, and three interior courtyards." | |
Apartments That Look Like Townhouses Under Construction On Boyers Road |
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view a larger photo here In addition to the apartments under construction at Preston Lake, and the apartments on Boyers Road being built by Cosner Investments, there are yet more apartments being built on Boyers Road... The apartments -- or townhouses -- or apartments shown above are currently under construction almost directly across Boyers Road from Sentara RMH Medical Center. Each "townhouse" structure actually features two apartments -- one up, and one down. These townhouses are off of Congers Creek Road -- in fact, on the other side of Congers Creek Road from The Townes at Congers Creek, townhouses for sale built by a different developer. So, in conclusion, there are quite a few rental properties are under construction on Boyers Road. Per my best estimations, it looks like this...
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Apartment Complex Under Construction On Boyers Road |
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view a larger image here If you have drive along Boyers Road lately you may have wondered about the large building starting to be built near Preston Lake. As shown in the photo above, it is a series of buildings that will comprise a large apartment complex. This development, being built by Cosner Investments, would seem likely to be comprised of around 86 apartments as per the original plans proposed to Rockingham County. As described by the developer last year... "Specifically, Locust Grove Village will house no more than 86 individual condominiums containing a mixture of 1-, 2-, and 3-bedroom units. Units will be clustered into four buildings of 20-22 units apiece, with a majority of these units having a townhouse style and appearance. Building corners will be comprised of six condominium units served by a common entry and stairwell. Each pair of buildings will encircle a central green, with each townhouse-style condo having direct access through their own private courtyard. Half of the corner units will have balconies/courtyards that face the common green (interior), while the other half will face the exterior." "The central greens will be improved with tasteful landscaping (mixture of trees and shrubbery), paved walkways, a central gazebo, charcoal grills, and benches, intended to promote resident interaction and sense of community. If desired by residents, allowances will be made for community gardens, to be maintained by the residents themselves, and thereby promoting a sense of pride and ownership within the community. Pedestrian connectivity between the greens will be provided through walkways and a mid-block crosswalk through the parking area." "In sum, Locust Grove Village is intended to serve a growing desirability for attractive, communal living opportunities within a rural setting. Through emphasis of common areas and promotion of interaction between residents, Locust Grove Village will position itself as the premier condominium-based community within Rockingham County." | |
Preston Lake Apartments, A View From Above |
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view a larger image here If you haven't driven by (or flown by) lately... Construction is moving along steadily at Preston Lake Apartments -- a rental community being developed adjacent to Preston Lake at the intersection of Boyers Road and Stone Spring Road. Quite a few of the buildings are still being finished, but residents have been moving into the first buildings to have been completed. Find out more about renting a 1, 2 or 3 bedroom apartment at Preston Lake Apartments here. | |
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Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
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