Monday, December 28, 2009

Biscuit Run: Here's How A Wealthy Developer May Profit Off A Failed Vision While Albemarle County Continues Its Fiscal Freefall

The details, sketchy as they all are, indicate Hunter Craig's business acumen and his lawyers' knowledge of the property and tax codes; they also let us all understand exactly that those in decision-making capacities for Albemarle County development needed much more information, knowledge, and realism than what they had. (Thousands of additional housing units were necessary in Southern Albemarle County?  Really?  Where were the jobs going to come from to support those new homeowners?)  Read.

1 comment:

Anonymous said...

Unlike the Board of Supervisors, you seem to understand that this project simply can't be done now that the credit bubble has burst. But the wealthy developer who bought at the top of the market isnt' really profiting, as much as limiting the damage that this mistake will cost him and his firm. I would be surprised if he doesn't go belly up anyway given how slow the housing market is.