The I Love CVille Show With Jerry Miller! - $120,000 Asking Price For Umma's Restaurant; $150,000 Asking Price For Himalayan Fusion

Episode Date: April 22, 2024

The I Love CVille Show headlines: $120,000 Asking Price For Umma’s Restaurant $150,000 Asking Price For Himalayan Fusion Downtown Apartment Tower To 160-Rm Hotel? Virginia Credit Union Opening Downtown Branch Assault Charge Against Ludwig Kuttner Dismissed UVA Corner Assault Investigated By CVille Police Retailer Express Files For Bankruptcy Protection UVA Football Spring Game News And Notes Read Viewer & Listener Comments Live On-Air The I Love CVille Show airs live Monday – Friday from 12:30 pm – 1:30 pm on The I Love CVille Network. Watch and listen to The I Love CVille Show on Facebook, Instagram, Twitter, LinkedIn, iTunes, Apple Podcast, YouTube, Spotify, Fountain, Amazon Music, Audible and iLoveCVille.com.

Good Monday afternoon, guys. I'm Jerry Miller. Thank you kindly for joining us on the I Love Seville Show. It's great to connect with you through the I Love Seville Network. We're live wherever you get your social media and your podcasting content. Take a look at the screen for today's headlines, what we're going to cover on the program, including UMAs on Water Street with an asking price of $120,000. We will talk about this from every angle. We will also highlight Himalayan Fusion on the downtown mall back on the market for $150,000 asking price. There's a little bit of comparables that you can do with those two listings. More restaurants coming on the market in the very near future.

I have to hold off on some of the other ones, but I'm giving you a heads up and a warning that more on the near future in the Charlottesville and Alamaro County markets. We'll talk downtown mall, apartment tower, considering a pivot to a 160-room hotel. Sean Tubbs has that story. I thought we needed housing density. Well, developers are saying maybe a hotel makes a little bit more sense from a business model standpoint. That story on today's show. Virginia Credit Union, who is crushing it.

This bank, this credit union is crushing it. This bank, this credit union is crushing it. They are opening a branch on the downtown mall on the intersection of 4th and, that's Main Street? 4th and Main Street, the downtown mall. We'll talk about that on today's program. We will highlight Ludwig Kutner. He's a friend of the program. I have to caveat that. I do business with Mr. Kutner. I do business with Mr. Kutner.

I had beers with Mr. Kutner. I enjoy seeing Ludwig around town. The assault charges against Ludwig Kutner. A local musician. Would I call him a musician or a busker? One and the same? Musician and busker? I think they work pretty similarly.

I'll take it a step further. are you on a two-shot you can weave you on a two-shot then put me back on a one all right the guy who brought the assault charges against ludwig was banging white buckets with sticks and screaming loudly and unpleasant fashions many times? Is that even music? Is that even busking? Am I doing a disservice to musicians and buskers calling a man who bangs white buckets on the downtown mall, annoying patrons and passerbys,

a busker or a musician? Quite possibly, yeah. That's probably a subjective question. Truly subjective. You were right about that. I don't know that I find his busking particularly... Pleasant? Yeah. I found it intrusive.

Yeah. It's similar to the guy that just clapped and clapped. The clapping man. Yeah. How about there's the clapping man yeah how about uh the the there's the clapping man who's jacked pythons for arms then there's the what what did we call the guy who was carrying the staff the shepherd staff yeah who would scream at the top of his lungs yeah and then we had the busker we have personalities in downtown charlotte ladies and gentlemen no doubt and then we had the busker we have personalities in downtown charlotte ladies and gentlemen no

doubt and then we have the the guy that's sleeping in the draft tap room uh what do you call it the entryway what do you call that yeah yeah front entry there's another guy in uh what is it where the uh where the hardware store used to be where the old vita nova used to be sleeping there oh i've seen him he's got a dog and he's got a dog and his belongings. I went walking by the other day after work with Liza. Your dog. Yeah. And neither dog did anything. His dog didn't come out. My dog didn't go in. But the guy looked at me. I said hi to him as I walked by and he's like don't ever do that again with your dog like I was trying to

prompt his dog to attack I honestly don't know I have a similar story the guy who's sleeping at draft tap room there was a lady walking by with her dogs at draft tap room and her dogs did not get even close

to draft tap room where the guy is sleeping with all his belongings. He is deranged. He is constantly speaking to himself. He called her a four-letter word. I think it rhymes with hut or King Tut? He called her a slut. And she was walking by with her dogs. This was like a 45-year-old woman with two dogs. And she looked over at him. Didn't even see him at first.

He literally called her this name. And she took a step back, startled, and said, What did you say to me? And then he proceeded to cuss her out. We'll talk about that on today's program. I also want to talk about the dichotomy of how social media in this community perceives or responds to those who are

charged with alleged assaults. An assault happened on the UVA corner. Judah's going to give us those details. The alleged assaulters are white guys. Commenters on social media responding very differently than what we've seen in the past in this community with other acts of violence where words like thugs and gang members have been thrown and bandied around.

So we're going to unpack that on today's program. We got a national story for you. Express has filed for bankruptcy protection. This at one time was the Tony-est of the Tony, the coolest of the cool, the chicest of the chic when it came to apparel in particular for teenage women, 20-something women, 30-something women. Now Chapter 11, bankruptcy protection for National Retailer Express. We'll unpack that on today's program. We'll also talk spring game,

UVA spring game news and notes. If you put me back on a one, I want to give some props to move through to Dino. That's where you throw in Dino's last name. Oh, I've been saying it wrong. I believe it was, did he say Hoja? Dino Hoja. Hoja. Hoja.

The owner of Dino's Woodfire Pizza, Basta Pasta, and Moo Thru. He has a location at Pro Renata now opened, a Moo Thru and a Dino's. Go to Pro Renata, go to Dino's, go to Moo Thru at Pro Renata and support this locally owned business. Ladies and gentlemen, we're working on an interview with Dr. John Shabe, the owner of Pro Renata, to talk about his expansion plans. And they are very significant, but that is his news to tell, hopefully on this program. Logan Wells, Clayla, welcome to the broadcast. Thank you kindly for joining us. Kelly Postle Jackson, the guy that dances by Barracks Road who spreads happiness on Barracks Road is one of the gentlemen from the downtown mall. I know exactly who you're referring to, KJ. Bill McChesney, welcome to the broadcast. Thank you kindly for joining us. All right,

let's talk restaurants. So Charlottesville Business Brokers, online at charlottesvillebusinessbrokers.com. One of our divisions here, we help buyers and sellers buy businesses, sell businesses. We help buyers and sellers and entrepreneurs with funding their businesses. We help buyers and sellers and entrepreneurs who need real estate help, fine real estate, commercial in particular. We help buyers and sellers and entrepreneurs and business owners who need brand management strategy and consultation help. Those services, how we make our living, the I Love Seville Network at the tip of the iceberg. We do the network because we love the community, we love to stay top of mind when it comes to what

we provide service portfolio wise. The business brokerage division has been on absolute fire of late. And it's been on fire with folks looking to sell their businesses. It's been on fire with folks looking to buy their businesses. Some of the folks that we like to work alongside that are very good at what they do,

one of them is Stu Rifkin. He is a pro's pro. I. One of them is Stu Rifkin. He is a pro's pro. I hope you hear this, Stu Rifkin. Rifkin & Associates, a pro's pro. We've done a deal with Moe's Barbecue with Stu where we helped that first generation, the Abrams, sell to the second generation owner, Derek Bond, who owns the melting pot.

Those folks watch and listen to the show, Mr. Bond in particular, on a regular basis. We appreciate them tremendously. We help broker the transaction of Package Depot on Ivy Road. Sue Rifkin is a pro's pro. Another we do a lot of business with, Chris Kabash. Mr. Kabash is watching the program. I hope he hears those positive words. Love working with, Chris Kabash. Mr. Kabash is watching the program. I hope he hears

those positive words. Love working along, Chris Kabash. Another pro's po. We just brokered the deal of Krobi's in the Avon Shopping Center, the Southside Shopping Center, where the Food Lion is. I'm not going to let you know what's coming to that particular location, but I will let you know you're going to be very excited about. It's my client's responsibility, or it's my client's. It's my client's. She has the first announcement to make. I won't steal her thunder. It's her thunder to make, her announcement to make with what is going to replace Krobi's,

but I'm 1,000% confident it's going to crush it. There'll be a takeout component. There'll be expanded hours. And I think their model, which is coming to market very soon, it's going to have fantastic success in Southside Charlottesville with all the rooftops that are surrounding that food line shopping center, Mill Creek, Lake Renovia. Is it Foxchase or Foxcroft, one of those two, just to name a few. There's a boatload of rooftops right around that shopping center. There are business brokers that sell businesses locally that aren't from this market. And I'm going to highlight this. If you ever consider a business broker, for you not to choose,

and I'm going to even give some props to folks that I have friendly competition with, Stu, Chris, or myself, if you wouldn't choose one of those three, you're just not reading the professional tea leaves correctly. I see some businesses locally that choose to list with out-of-market brokers, and that is the definition of, choosing my words, I'll just be frank, idiocy. Listing

with an out-of-market broker is the definition of idiocy. You just don't have the pulse on the street, your finger on the pulse. You just don't hear what the word of the community is when you do stuff like that. There's two listings that are currently active right now. Uma's restaurant, $120,000 asking price, and Himalayan Fusion on the downtown mall with $150,000 asking price. Both of these restaurants have upside. Both are basically in the same vicinity price-wise, $120 versus $150. I think Himalayan fusion, frankly, is a little bit high at $1.50. There's a lot to unpack with this storyline. The first thing I want to unpack is this. The climate that's out there right now

for running these businesses is challenging. Millie Joe's Coffee, as we talked last week, in their closing post, Millie Joe's, the roastery and the old Vinegar Hill spot is closing at the end of May. They said part of the reason they're going to close is because of the meals tax escalation by local government, because of labor shortages, cost of labor, cost of goods, and the competitive nature of restaurants. And those elements right there are applicable to any food and beverage business in Charlottesville or Albemarle County. We have a boatload of them. The labor is not prevalent, not like it used to be before COVID, and the labor that's willing to work expects a lot of money for its efforts. Cost of goods are expensive. Rent is expensive. Competition.

And the consumer is enjoying food and beverage businesses differently, not so much in person in the front of the house at tables and chairs, but some, a large portion, especially young millennials and Gen Zers, preferring third-party apps that deliver the food to them or take out where they're eating at the comfort of their home while streaming content on devices. It's radically changing the industry. I would expect you'll see more businesses that are very known commodities hit this market very soon.

I want to focus on Uma's and Himalayan Fusion today. Uma's on Water Street is a fantastic location. Michael Lewis had a successful run at Monoloco. Fantastic run where Monoloco was the spot for dinner and lunch and happy hour and margaritas and alfresco dining and late night music and late night fun. Lewis built an incredible restaurant with Monoloco. Then he looked to do something else because he got a bit burnt out. And after Mono Loco said its goodbyes, Moe's jumped into the mix. And this was a husband and wife that were friends with Ashley and Mike on Ivy Road who looked to open a Moe's on Water Street. And they did a hell of a job as well on Water Street. They had a great late night.

They had a great music scene. Moe's of the ingredients, the quality of the food of this barbecue joint are A++. But that particular location eventually closed its doors. Then Uma's, which has ties to, is it Sussex Farm on the Farmer's Market? A vendor at the Charlottesville Farers Market, Sussex Farm who does fantastic bowls they springboard from the farmers market into a Water Street location under a different

brand name and after a short period of time and after a significant financial investment the listing has gone active for $120,000 ask. They highlight before they list their business that the escalating nature of meals tax is something that is very concerning to them because it's making the experience a thousand cuts that's going to shrink the tax base. And the tax base is going to shrink.

What I mean by that is when you have less businesses that are operating, less businesses that can withstand economic headwinds, so they choose to sell or close, then the businesses that survive, they may have an opportunity to gain more market share, more customers. But the ones that survive are going to have more of a burden on them. And those burdens could be tied to labor. Those burdens could be tied to tax base. Those burdens could be tied to consumer expectations, consumer behavior. And as we lose small businesses in a town that is only 10.2 square miles in size, as we lose those businesses, the tax base shrinks, which means government has to raise overhead on those that exist,

has to tax the ones that survive even more to meet budgetary needs. And that is how you become a city of charm and a city of locally owned businesses, a city of mom and pops, a city that is unique when compared to main streets all over the world, to essentially a Fredericksburg, or essentially Main Street USA that you can find anywhere in America. And that's what no one wants here. And that's what's happening right now. I think the UMMA's opportunity is fantastic. If you're interested, reach out to me. We can help set up financials, a tour, and answer your questions.

I think the Himalayan Fusion opportunity is fantastic. The landlord of Himalayan Fusion, known personally, it's a fantastic opportunity there. Like anything, a price is negotiable, and I'm offering a word of caution to any that are listening. More are coming. I offer that word of caution in the beginning of the year, and you're seeing them. I offer that caution at the end of last year, and you're seeing them.

Krobi's an institution. An institution. Let us know your thoughts on this, viewers and listeners. We'll relay them live on air on the Monday edition of the I Love Seville show. Deep Throat, we'll get to your comments on the hotel in a matter of moments. I found that very intriguing.

I particularly found the hotel, the apartment complex that could pivot to a hotel. It's the same developer behind the apartment building above Blue Moon Diner. I think it's Heirloom Development.

And the Heirloom Developer, his name is Jeffrey Levine. How do you think you say his last name? Levine? Levine, Jeffrey Levine, I'll go with Levine, you're better at that stuff than I am. Jeffrey Levine, the developer, the owner of Heirloom Development, the guy who built the apartment in place for a 57 unit apartment building at 600 West Main Street, or excuse me, the company has plans to construct a similar residential structure next door, next door to the 57 unit 600 West Main Street apartment building behind Blue Moon Diner.

He's going to build one next door. That's right by University Tire. It might be in place at University Tire. I think it might be. It says on the site of a former automotive repair shop. Okay, so that's University Tire. Yeah. Okay. He says in this article, in this Sean Tubbs report,

that the project is on hold while his company evaluates whether it may be better to proceed under the new zoning code or not the approvals he has is former zoning code the current project is on hold he says quote it will take a considerable amount of design and costing and underwriting to figure this out. So he's basically telling the world this. Moving forward under the new zoning would take us a lot of time, design, money, and red tape clearing for us to do this project. And we've got to figure out if we're willing to do that.

He's already talking about changing this hotel where a livery stable is where the artful lodger is this apartment building to a 160 room hotel a hotel that's adjacent to the Omni that just went through a 15 million dollar

renovation so that shows you something and if you're rotating lower thirds on screen, viewers and listeners, we'll get to your comments in a matter of moments. Sherry Wilcomb, welcome to the broadcast. This developer is willing to potentially do a hotel room next to a national brand

Omni that put $15 million in renovating its hotel. And he would rather compete next to an Omni, literally next door, than go down the road of building an apartment tower in downtown Charlottesville. That puts things in perspective for you. There goes Hall Spencer, the award-winning journalist, the former editor, publisher of The Hook, the founder of The Hook, Hall Spencer. Let's do this. I'm going

to get sidetracked right now. James Watson, I'll get to your comments here. Anytime someone in front of our well-positioned studio, we are right next to the police department, we're a block away from the Charlottesville Courthouse, the Alamo County Courthouse, we're a block off the downtown mall, we're right in the middle of all the hedge funds, the family offices, the finance offices, right by all the law firms. We've got a city

counselor down the hall from us. Anytime a local luminary of merit walks by the studio window, we're going to play, Old Jerry would have done a drinking game. Responsible Jerry says it's 12.30 in the afternoon when this show goes. Maybe we do a kind of contest. When Brian Haleska walks by, Lloyd Snook walks by.

When Ned Galloway walks by. When Hoss Spencer walks by. Someone of that ilk. Either we have to do 10 jumping jacks. Jumping jacks would probably be easier to show on the studio camera than us getting on the floor and doing push-ups.

So that'll be the game. Anytime we see somebody of merit that I highlight on the show, walk by 10 jumping jacks. Someone like Brian Huluska, who walks by every day, if he does it on a second day after doing it on a Monday and he does it on a Tuesday, then we have to do 20 jumping jacks. If you think about another idea, I'm happy to put that into the challenge

mix. Okay. So if you're just tuning into the program, Uma's restaurant's got $120,000 asking price. Himalayan Fusion, a $150,000 asking price. Let me know if you're interested in seeing or touring or getting more details on either. I will happily set that up for you. Carly Wagner, I'm going to get to your comments in a matter of moments. Let's go with James Watson. Let's get James's photo on screen. ilovecevil.com forward slash viewer rankings for the power poll of viewers and listeners. iloveceville.com forward slash viewer rankings. Mr. Watson is a University of Virginia graduate, one of the smartest people I know, someone who bleeds orange and blue, a number five in the family. James Watson says this, something I meant to send you before the

show. This past weekend's events were great. However, from an economic development and tourism perspective, Charlottesville could benefit even more if events could spread out across multiple weekends. I believe on Saturday there was a monster truck event, a spring game, the Black Alumni Weekend, the Tom Tom Festival, the Dogwood Parade, and about four or five other events on one day. Great events, but it causes hotel prices to go up and other things to be stretched. 100% agree with what James Watson just said. Not only does it cause price surging at hotels,

but it limits engagement at all these events. 100%. I mean, I couldn't tell you about more than one or two of those events. The Dogwood Festival, there was an article in the Daily Progress about this. Yeah. How the Dogwood Festival has become a shadow of its former self. Yeah. At one time, the Dogwood Festival would captivate the community.

It would have rides and fairs and carnivals. Yeah. And it would have a court where there was a dogwood queen honored if you saw the dogwood festival this weekend and the only reason i did was because i was navigating traffic uh going from eastern almaro county to western almaro county during this parade it was poultry attendance yeah i read that uh part of the part of the problem with No More Rides is that they weren't allowed to go on, they weren't allowed to set up on Charlottesville grass, which is why they started moving to, you know, to the Kmart parking lot and the Fashion the fashion square mall parking lot and i believe another issue was that they were being told that every single ride had to be uh had to be um wheelchair accessible which would have cost the uh the company that uh that comes in from out of out of town to set up all these rides would have cost them tens of thousands of dollars

and as a result we don't have any of that anymore and yeah like you said you only realized it because you were navigating the there was nobody there

barely anyone we have ownership of... We are the largest owners in the Macklin building on Market Street. And when I first purchased the first commercial condo on the second floor of this building where our offices were previously located,

I had an office with a balcony that overlooked Market Street. In fact, we had two offices. They were fantastic offices. They had balconies overlooking Market Street. In fact, we had two offices. They were fantastic offices. They had balconies overlooking Market Street. We're the only building on Market Street with courtyards. And we had in the first year a Dogwood Parade party in the upstairs office where I served booze and had finger food and music on a Saturday morning Bloody Marys and mimosas and champagne in the main lobby with the two

offices the sliding glass doors open and us hanging out on the two balconies while the parades and the floats and the participants of the Dogwood parade would go by. We had music blasting and people cheering. That was a decade ago. It was effing awesome. Now, and I'm throwing no shade here, what I saw on Saturday would not even merit us getting the family Explorer pack,

the kids in their car seats, and my wife and I to come down in log chairs to watch. It would not merit our time. I believe it. And that's damning. Yeah. Because that used to be a fantastic parade. And look at the attendance at the spring game

with UVA football. It was paltry. Now UVA is going to say they're doing construction on Scott Stadium. So that's why we consolidated all or aggregated everyone to one side of the football stadium. And that may be the case.

Like I saw pictures online of the stadium bleachers like having holes and like literal like destruction to them as they're rebuilding them. But having the spring game so poorly attended is not going to drive fan engagement as we head into what is arguably the most six or seven uh six or seven most important weekends tied around home football games of the year for charlottesville yeah carly wagner watching the program she says there's so much going on this coming weekend as well including foxfields miss wagner you have a

new profile picture it looks fantastic and i like the new profile picture and thank you for watching the show, Carly. Carly says this. Is that due to the affordable unit requirements for new residential units under new zoning? She's talking about the downtown apartment building that may pivot to hotel.

She says new zoning increased density so developers thinking, hey, I may have a larger ROI with more units but math doesn't play out well with the ADU requirements so let's do a hotel. Is that the thought process? Perhaps that's the thought process. I think the thought process may be very simple

and Carly's a businesswoman. She knows this as well as anyone. You get $600 or $700 a night on some nights for a hotel. Yeah. We're still under-hoteled. We're still under-hoteled. And he'd rather compete with a national brand, the Omni, who does a $15 million renovation potentially,

than build an apartment building in downtown Charlottesville. Deep Throat's got a lot of perspective to offer on this. Number one in the family. We'll get to Deep Throat's got a lot of perspective to offer on this. Number one in the family. We'll get to Deep Throat's comments here. Get his photo on screen, please. This is Deep Throat. Quote from Deep Throat. On the conversion of the apartment project to a hotel project,

a couple of points to consider. One, multifamily housing development is simply not very profitable in Charlottesville, given construction costs and rental rates. This is the barrier to multifamily housing, not zoning. You can see this in the preference for hotel development over multifamily housing development, even with a high lodging tax in place. Two, Yimbys in Charlottesville, yes in my backyards in Charlottesville, seem to think that development other than affordable housing is merely neutral for housing affordability. That is 100% false. Hotels are terrible for affordability because we are a full employment market. New hotels equals new workers, and they are coming from outside the market. They are also going to be very poorly paid workers. BLS stats show average weekly wage for hotel workers in Charlottesville 2022 is a mere $640 a week. For service industries generally, the average weekly wage is more than that. So hotel equals more workers having to commute long distances

or being housing stressed. Amsterdam has recently banned the new construction of net new hotel rooms because of the negative impact. Wow. This was something we could not get through the mind of Nakia Walker, the former mayor of Charlottesville. She was so vehemently opposed to any housing with her vote that was not housing tied to AMI or below wage housing, affordable housing, that she voted no. Everyone tried to explain to her that any additional supply in Charlottesville is good for the market, even if it's supply

at the top of the price point pyramid. Right. Because it still brings people out of other houses, and that brings other people out of the houses below them, which it's... Domino effect. Yeah. And that can never get through the former mayor's thought process.

She wanted the housing to be perfect. Yeah. But perfect is the enemy of productivity or profitability. No doubt. Or in this scenario, the enemy of housing. Yeah. And you can't force developers to put up housing that's not going to make them money. Well, Charlottesville's trying to do that. With 10% of the housing, what's the number, Neil Williamson? You're watching the show right now. If you could give me that number or deep throat, 10% of housing that includes a certain amount of units

has to be affordable. Yeah. Has to be affordable housing. What is that threshold number? The number one, and Ginny Hu, you're next on deck with your comment. The number one point I wanted to highlight from this article from Sean Tubbs and what the developer had to say is this. Okay, Deep Throat, 10% of units on development of nine or more units.

Thank you, Deep Throat. So if you're building a project that has more than nine units, more than nine units, 10% of that must be affordable at 60% AMI for rentals. For 99 years, thank you, Deep Throat, making the program better. I sincerely mean that. Love meeting your parents over the weekend. 99 years. Who the F would want to deal with that? I'm going to build a project,

and for 99 years, 10% of my units have to be tied to 60% AMI. If I pass these on to my kids, their kids are going to have to deal with it. Their kids' kids' kids will have to deal with it. Yeah, 99 years is... Their kids' kids' kids. Three, four, deal with it. Yeah, 99 years is... They're kids, kids, kids. Three, four, possibly even five generations. What in the actual F?

The developer says this in the article that Sean wrote that I thought was the true interesting part of the story. He says, we have to consider how the project next to the Blue Moon project, the one where University Tire, the one we're considering there, actually fits zoning today. And it's going to cost us a boatload of time and underwriting and design and red tape to figure this out. Basically stalling the project he's basically saying to figure this out

I'm going to put it on ice for a long ass time and I'm going to have to spend a boatload of money to figure it out that's what he's saying this is the consequences or the collateral damage of allowing activists and socialists to influence local government

as opposed to people that actually do this professionally for a living having the ear of local government as opposed to people that actually do this professionally for a living having the ear of local government. Carly Wagner says, amazing points from Deep Throat. Carly Wagner also says, without tourism lodging, you lose on tourism tax dollars. Big picture.

Does Charlottesville have to decide to be a tourist city or a working class city? Can you have best of both worlds? That's a great topic for a show, Carly. That is a great topic for the show. Does Charlottesville want to be a tourism city or a working class city? And can you be both?

I don't think you can be both. It's tough. How can you be both? I don't know if there's an easy way. My wife sent me a listing over the weekend. A real estate listing. I'm scrolling through our text messages right now. 1895 Westview Road.

1895 Westview is one word, road. It has an asking price of about $1,998,000. Seven bedrooms, six bathrooms, over 6,000 square feet on nearly an acre of land. It had an open house yesterday. If you look at the copy of this listing, it says, and I'll give props to the agent, Yates Nobles of Montague Miller & Company has the listing. And Yates, in marketing the property, says this.

Three kitchens with stainless steel appliances, six full bathrooms seven bedrooms five living rooms two master suites and brick house including one on the first floor lovely permanent landscaping and fence play area for children or pets here's how he's really trying to sell this excellent income history when used as four airbnbs plus owner first floor living partial owner financing may be considered this listing which needs updating but is in a primo location pretty sure this is the blue ridge neighborhood right here seven bedrooms six baths over 6 000 square feet an acre of land in the city just under two million dollars in asking is being listed or it's being

advertised. It has an asking price that's associated with Airbnb rental revenue. So much so that you can even live in the house and still have four Airbnbs with it. Remember, the city of Charlottesville says 180 days, you have to call the place your primary residence to be able to legally Airbnb it, but we know there's a number of illegal Airbnbs that are existing or operating in this city. John Blair watching the program, number two in the family. Let's get his photo on screen. John Blair says this, the only major, and we're talking 100 plus units, multifamily project that's likely to be built in Charlottesville is the Verve. John Blair says Deep Throat is correct.

Multifamily is expensive and the inclusionary zoning makes it even more so. You're going to have to have uber-rich UVA students as your renters if you're going to build multifamily. More and more gentrification, ladies and gentlemen. John Blair, you're a good man. Let me respond to his comment. You are a great man. Thank you for commenting. Send. I want to get back to Carly Wagner's question for the viewers and listeners. Can Charlottesville be a number one tourist destination in the running for one of the top tourist destinations in the mid-Atlantic, in the East Coast? We're already, I mean, we are already the number two wedding venue on the East Coast behind Charleston. Charleston's one. We're number two. We're

already the wine and vineyard and winery mecca of the world, according to Wine Enthusiast Magazine, the number one wine region in the world. Wine Enthusiast Magazine, right? Yeah. Realtor Magazine called us the number two area to retire. Waynesboro, number three. Interesting. This was number two. Yeah.

We're already one of the top music scenes, music areas in the country. Really? We're, depending on who you ask, top 15 or top 10 restaurants per capita. We got ACC sports. We got outdoors and hiking. We can make a legitimate argument, one of the best tourist destinations in the mid-Atlantic or the East Coast here in Charlottesville. If we continue going down this road and grabbing or earning or trying to establish this touristic moniker or this touristic brand, and we want to embrace it, right?

Can we also say that we're committed to housing affordability? He just made the comment, deep throat, that we're at capacity when it comes to labor for frontline jobs. And I call frontline jobs hospitality, food and beverage, music, hotels. So much so that there are hotels and resorts and clubs around the area that are bringing in their staff on short-term visas and having them work balls to the wall, Eastern Europeans, Europeans, on short-term visas and having them work balls to the wall, Eastern Europeans, Europeans,

on short-term visas for a huge burst where they earn money, bring it back home, and they are essentially wealthy because the dollar goes further instead of hiring within the community. It's a lot like the Outer Banks. And that's a lot of Airbnbs.

So the point he's making is if we're already at capacity with internal labor, the labor we're going to have to bring is or stifle or throttle or cause downward pressure on housing. Downward pressure is a better term. It's going to cause pressure on housing. Because the folks are going to come in from outside the area and have to live here. It was either Snowshoe or Massanutten, one of those two ski resorts that had to buy a hotel to staff their labor. Carol Thorpe watching the program. Let's get her photo on screen. Ginny, who I haven't forgotten about you, you're next, I promise.

Number nine in the family, Carol Thorpe. She says this. You warn of the cost of socialists and city council, and rightly so. Please add Michael Payne to that warning because he does not know what he is doing and his agenda is dangerous to our local economy. I think Mr. Payne knows what he is doing, but I do think how he goes about doing it is dangerous potentially to the local economy. I think everything he is doing, he is doing according to what he thinks is right. But I think his actions are dangerous to the local economy, to Carol's point. All right. I promised Ginny Hu's comment. I'm sorry I'm delayed in relaying this on air.

She says this. There was a number of, this was a number of years ago, but I had a guy ask me for cash while I was waiting outside of the toy store for my kids and parents. I told him I didn't have cash, but offered him the pizza we had picked up at Sal's. He cussed me out,

and that's the last time I took my kids to the mall. She also said I could not get scout units like Boy Scout, Cub Scout, Scouts to sign up to be in the parade and the dog would pray. It was Slim Pickens, the parade. Thank you for watching.

More comments coming in. James Watson's 100% right. They've been bringing in labor for years in Williamsburg. 100% right. I grew up in Williamsburg. Bush Gardens, USA. Water Country, USA. I tell this story all the time. My brother and I are sons of entrepreneurs. My father was a CPA, owned an accounting practice. My mother was the front of the house. She did the bookkeeping work

and greeted the clients and did the admin work. They worked their ASS's off. ASS ES. ASS ES is off. ASS is easier on the tongue roll. Anyway, they worked their tails off. And we had Euro Splash passes as kids, and we would literally be dropped at the park at 8 a.m., and they would come pick

us up at the park at like 6 p.m. And we were told, just stay in bush gardens or just stay in water country. Don't get kidnapped. Stay alive. Keep your head on a swivel. That's what they would tell us when they dropped us out of the family Volvo and we went into bush gardens. She would watch as we made it through the turnstiles and then she left to go to work. Keep your head on a swivel. Don't get kidnapped. Don't take candy from strangers. Stay out of trouble.

Many of the folks that were working at Busch Gardens and Water Country while we were growing up were foreigners. And the reason you know that is because at Busch Gardens and Water Country, they say their place of origin, where they live, on their name tags. So they'll have their name and where they're from underneath it. All foreigners. James Watson, right? Not all. A lot of them. Appreciate you, Mr. Watson. Philip Dow, welcome to the program. Bill McChesney, welcome to the program. Folks down the street watching the show. Tom Powell watching the show. Let's get Tom's photo on screen.

Tom is number 54 in the family. He said we lost Rob Graham. Unrelated, but I just read we lost Rob Graham. Is that Rob Graham from Charlottesville Radio Group in 1070? Is that? I don't, I just see the comment here. I would be, anyone we lost is unfortunate, but is that who you're mentioning, Tom? Can you let me know in the feed? Is that that Rob Graham, Tom? I'm sorry to see anyone go, but oh my gosh, it is that right. He just said yes. So from Charlottesville Radio Group and from local news with Charlottesville Radio Group and 1070 WINA, I believe he does the morning show on Z95 with Sherry has passed away. Lost, do you mean lost,

passed away, or he moved out of the market? I don't want to jump to conclusions. I'm reading this in real time. Tom, thank you. He said the Dogwood Parade was sad to see how few people were there and fewer floats with lots of trucks. Yeah, I noticed the same. Bill McChesney, his photo on screen. Yeah, he said WNA announced earlier. Did he announce, did they announce earlier that he passed or that he left the station? Just for clarity, and I'm not trying to nitpick. I just want to make sure I have the facts right. Bill McChesney's photo on screen. Passed away. Good Lord, I'm sorry to hear this. Award-winning broadcaster and local icon. Ah, my thoughts and prayers are with his family. Oof. Life is fragile, folks.

Bill McChesney has this. Man, what a kick in the nuts that is. I'm sorry to hear that. Bill McChesney's photo on screen. He said, we took our granddaughter to the parade. It was mostly commercial. We were a little late, but I saw no Dogwood Queen or Miss Virginia. There were only four Shriner Corvette go-karts. Yeah, it was slim pickings, man. It was slim pickings. And interestingly, they attributed part of that to behavior changing with COVID. We have this comment coming in. This comment coming in. Ready for this one?

Capping top line GRP via rent control eats away at DSCR over time as OPEX increases. If top line revenue can't increase naturally due to AGI restrictions, then developer financing ends up in default quickly. Non-business people governing commerce, they have no idea how housing is financed. I'm going to try to put that in very layman's terms from a guy who's in the private equity space, and this is not deep throat. This is me putting this in very layman's terms

for those watching the program. People have this misconception that the word developer in front of your name means you're filthy rich. No. The word developer in front of your name does not mean filthy rich. Yeah. The word developer in front of your name does not mean filthy rich. Most of these projects, in fact,

almost every single one of these projects, are financed in some capacity. Some are financed, perhaps in Stony Point's case, because he is tied to a father-in-law who's a billionaire. Some are financed through private equity, investor money,

silent partners. Some are financed through banks, institutional lenders. But anyone who's willing or sophisticated enough to finance a project of development magnitude has the acumen to see modeling or business model projections. And they need to see how quickly rent rolls are in place and what the escalation is for those rolls every year. Projections for vacancies, projections for occupancies, how much it costs to get a project finished and completed, how quickly the rents will start,

how long it will take to manage or navigate red tape and city government yeah how much it costs to manage the property cost of goods construction costs mm-hmm and if you take a percentage of the rents a percentage of the apartments or beds or houses in any development project, and you cap them well below market, then the cash base, the money base, the money each year is not there to justify some of the loans or the financing needed to get these projects off the ground. And if you say 10% of a project has to be 60% AMI for 99 years, a developer is going to be like, I'm going to have to pitch this to an institutional lender or someone in the PE space or someone in the hard money lending space. And these people are just as sophisticated as anyone.

And if they see a business model where 10% of the units are 60% AMI for 99 years, they're just going to be like, this doesn't pencil out. And at that point, you start saying, maybe you should just be 160 unit hotel where the government's not really telling me what I can do with my rooms and how much I can charge for them. Yeah. And when you put developers out of business, it makes it even tougher. And that's where we're at. Developers are risk takers Deep Throat says Wintergreen brought in all their lift workers From Argentina and Peru this year

Wow You guys make the program better Alright A couple of items out of the notebook And then I want to get to how this assault charge, you get the UVA Corner assault charge story ready to go. Let me get some items out of the notebook first. Item number one in the business notebook, Virginia Credit Union is opening a branch on the downtown mall. We've known about this for some time. We did a commercial deal with Virginia Credit

Union earlier this year. Peyton over at Virginia Credit Union is fantastic. I hope the word gets back to him on that. They're opening a downtown mall branch. It's going to happen right on the corner of 4th Street and the downtown mall. It used to be a bank there. Virginia Credit Union is going to be there now. Their sign may have gone up today. So I want to highlight positive activity for downtown Charlottesville, a bank opening on the mall. Second item out of the notebook, speaking of developers, the assault charges against Lew Wig Kutner were dismissed. Frankly speaking, they never should have been brought in to

begin with. Mr. Kutner is probably close, and, they never should have been brought in to begin with. Mr. Kutner is probably close, and I'm not trying to age him, maybe close to 80 years old. He's certainly over 70. And a gentleman who's a musician and a busker on the downtown mall, if I can call him that, he bangs plastic buckets with sticks and screams in front of Ludwig's trophy property central place, the home of Petitpoix and Zocalo. Mr. Kutner asked him to move to a different location. You're bothering people.

The guy who bangs the empty buckets with sticks said, Mr. Kutner assaulted him by pushing him in the chest. Elbowed, yeah, but there was no damage. We're talking about a gentleman who's in his 70s or close to 80 here. The gentleman who was the busker did not even show up to court. Yeah. And the phone number that he gave to the court doesn't even work anymore.

And no one's seen him for some time. So I want to highlight the fact that everything against Ludwig was dropped. I have found Ludwig, I've done business with him, to be an asset to this community. One other item out of the notebook, excuse me, two other items out of the notebook. National Retailer Express has filed for bankruptcy protection.

Judah mentioned Express at the beginning of the show with the brand structure. I love structure. Structure and Express were brothers and sisters, essentially. Abercrombie & Finch, American Eagle, and Gap were also key players in retail when it came to teenagers, 20-somethings, and 30-somethings. American Eagle, does it even exist anymore?

I don't know. Structure does not. It doesn't? Express is bankrupt. What the hell's happened to Gap? And Abercrombie & Finch has completely reinvented itself. Retail is in absolute peril. Chapter 11 for Express.

Whoa. There's an American Eagle in barracks. There is? Yeah. I stand corrected. Shows what I know. The reality is my wife is... My wife and our partnership with Roback is my closet.

UVA football spring game news and notes. We'll talk about that tomorrow on the Jerry and Jerry show with Jerry Hootie Ratcliffe. Set the stage for the UVA Corner Assault as we close the program. I have a key item that I want to highlight on this show. So let's see the police

the Charlottesville police are investigating and are searching for two men if you look online you're sure to find pictures of them all over the place are we using the right lower thirds I'm sorry if I apologize for interrupting you

okay fantastic thank you they are also looking for a couple of vehicles we don't know a whole lot about the actual assault Fantastic. Thank you. They are also looking for a couple of vehicles. We don't know a whole lot about the actual assault, but it did result in one man being taken to the hospital with what seemed to be severe injuries. I know the police often leave out salient details in order to make sure that people who are providing tips or information are on the up and up. And not just parroting what they saw in the newspaper or on, or online.

So that's pretty much it. This happened at the corner, 1400, 1400 block of university Avenue. And the victim was taken to UVA Medical Center. This is my issue. I have a number of issues for this story. First, no one wants to see assault in Charlottesville of any capacity. Second, this is my issue with this. You watch the response on social media to the posting of these

culprits, alleged culprits. The police has their photos. It's two white guys, right? Yeah. And the response on social media has been very different than the response we have seen with previous assaults.

With previous assaults, when the alleged culprits were of different skin color, folks were very quick to utilize nasty names. Yeah. Words like thugs. And you're not seeing that same type

of commentary happening now. Right. And that's wrong. I don't know if I'd call it wrong. I call that 100% wrong. And I'm not sure this is a limb that you want to stand on. You can if you want. That seems to be a very fragile limb that you're choosing to stand on.

If we're going to utilize language for one group and not utilize language for another group that's the definition of wrong and you're seeing human behavior in real time on social media yet again and how they view others and it's not always pretty and how they view others. And it's not always pretty.

That's true. I was following on Twitter, and I don't agree with a lot of what this man says, but Bill Ackman, I follow on Twitter, at Bill Ackman. He's the CEO of, I mean, he's a billionaire. He's been on the forefront of anti-Semitic behavior in the Ivy Leagues. Ah, yes. He recently posted on Twitter the anonymous nature of social media. And I found it compelling.

Let me see if I can find the tweet. This is tied to the protests that are happening at Columbia. Yeah. He tweeted 15 hours ago, Bill Ackman, if the protesters are proud of and confident in their views, why do they cover their faces? The most vile social media posts are also typically anonymous. Anonymity brings out the worst of humanity. No doubt. There was a die-in on the grounds of University of Virginia on Friday night on the lawn. Did you see that? No, I did not see that. A die-in is when you lay on the ground as if you are dead. And the die-in was from the group Students for Justice in Palestine. That's the name of their group. Students for Justice in Palestine. And a couple of dozen kids, students, I shouldn't call them kids, students,

protest on the lawn as if they were dead laying on the ground. The protest consisted of them lying on the ground and then a speech by SJP president, a third year student named Josh Rosenberg. And they are fighting for Palestinian rights.

I said on Friday's show that you can be pro-Palestine, pro-Israel, pro-Jewish, anti-Hamas, and anti-Israeli warfare tactics. I doubt there are many people that fall into all those categories.

I would bet you that's the majority of people. I would bet you the majority of people see Hamas as a terroristic group. I would bet you the majority of people feel sorry for Palestinians caught in this crossfire, this warfare. I would bet you the majority of people see what Israel is doing where they're killing innocent people and announcing that they're going to kill innocent people and see it as wrong.

I don't think they're announcing that they're going to kill innocent people. They're saying there's going to be collateral damage, and they know it. That's been the case in every war ever. I'm not trying to, I'm not. The majority of, I'm not going to say majority. When you use words like that, it's impossible to quantify majority and minority when it comes to groups of people. I empathize for Israelis, Palestinians, and I find the tactics utilized by Hamas to be disgraceful and certainly terroristic, and the response from Israel to be past warfare utilized and approved by the United Nations and what's been greenlit in the past as warfare strategy.

And I'll add another one in there. I think the university president, Jim Ryan, should be making a statement about this when it comes to the most volatile topic that's on his grounds today. No doubt. And I think a lot of people are that way. All right, that's the Monday edition of the show.

Anything you want to close with? Jerry and Jerry's show is Tuesday, or tomorrow. Thank you, James Watson. We'll talk about the spring game tomorrow. You know, last thing I want to say here is you know we're just not we're unabashed and unafraid to stand up for

the underdog and what we think is right and that's put us in the crossfire ourselves how these is right. And that's put us in the crossfire ourselves. How these, this assault that happened in the corner, it's two white guys that the police are releasing their image. If this was two black guys that the police had released their image, the social media commentary would have been much more vile and nasty and viral than what we saw so far. And that is, whether folks want to admit this or not, that is behavior that is based and rooted directly or indirectly, consciously or subconsciously,

on racism. And that is effed up. It's the Tuesday edition of the program. So long, everybody. Thank you.