Albemarle Planning Commission to Hear Dunlora Forest Plan
The Albemarle Planning Commission is expected to approve the final site plan for a major development at its meeting Tuesday night.
It's one of about a dozen new developments planned around the region. After a year and a half of planning, sales are expected to begin next month for Dunlora Forest. Analysts say this and all the other developments are good news for the housing market.
Judi Antrobus with Southern Development Homes said, "Dunlora Forest is a new neighborhood, we've been working on it for a while."
The process has led Southern Development Homes to a final meeting with the Albemarle County Planning Commission Tuesday night.
"It's just the final step, and we're getting ready to kick everything off in the next few weeks," said Antrobus.
High expectations have real estate analysts equally optimistic about the overall state of the housing market.
Jim Duncan with Nest Realty said, "The developers wouldn't be putting their money there if they didn't feel the demand was going to be there."
Duncan says this is the newest construction in Charlottesville and Albemarle County since the housing bubble burst.
"We have between 12 and 14 new developments coming on the market within the next six to 18 months. Which, you know, is pretty extraordinary," he said.
However, there is still uncertainty. "Realistically we're not going to know for, I would say nine to 18 months, whether these new construction developments have legs," said Duncan.
At Dunlora Forest, there may be reason for optimism. Of 99 units planned, there are already 80 people on the waiting list.
Antrobus said, "I think we'll see a really big groundswell of people that have just a really big interest in that type of home."
The Albemarle Planning Commission will meet to approve the final site plan Tuesday night at 6:00. If approved, Southern Development Homes will begin sales next month. Construction is expected to finish next spring.