The I Love CVille Show With Jerry Miller! - "Old Ivy Rd + 250 Bypass" Housing Now For Rent; "The Dean" Is The New Project On The Bypass

Episode Date: May 22, 2026

The I Love CVille Show headlines: “Old Ivy Rd + 250 Bypass” Housing Now For Rent “The Dean” Is The New Project On The Bypass Phase 1: 68 Units For Rent (1 Beds & 3 Beds) 1 BR + 1 BA: $2,100 per month, 740 Square Feet 3 BR + 2.5 BA: $3,500 – $4,600 per month, 1,430 SQF Who Will Rent These Units? What Will They Do To CVille? Jerry Ratcliffe Breaking News: The Lars Tiffany Story Subscribe To JerryRatcliffe.com For $8 Per Month 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, Rumble and iLoveCVille.com.

Welcome to the I Love Seville Show, guys. My name is Jerry Miller. Thank you kindly for joining us on a Friday afternoon. This is the water cooler of content and conversation. There's no talk show in Central Virginia that has more viewers and listeners than the I Love Seville Show. And those are facts on facts. We stream this show on every social media and podcasting platform possible. It's literally being live streamed on 27 individual Facebook, excuse me, social media and podcasting platforms as I'm speaking right now.

and then you and the viewer and listener can watch an on-demand post-show at your leisure. We cover topics that matter. That's why the show works. I have a one o'clock meeting today. The show will end at roughly 1.40 or at 1243, 1244 so I can make it to my 1 o'clock. We're going to cover quite a bit on the program in about 18.5 minutes today on the show. We have breaking news to report to you. Tip of the hat.

I hope he's watching the show to Deep Throat. I am wearing a hat because my eight-year-old son got us up and at him this morning in the 5 o'clock hour for a morning session where he set a new personal best with a four-minute plank. Our eight-year-old son banged out a four-minute plank, which is documented on Instagram, my personal and my personal Facebook. The kid is just putting in the work, and he's doing it on his own accord. I am riding shotgun with him as he's looking to play this game, squash that he's absolutely falling in love with.

And tip of the hat to Stephen O'Dwyer, the squash pro at the Borset, and to Evan Hayek and the UVA varsity athletes, the guys on the varsity team who are showing Trey the right way to play squash. Stephen has got his fundamentals sound. Evan Hayek is just bringing a zest for life on everything he does. And Trey being around the varsity team has just made him want to be the best version of himself in this sport. And I just love riding shotgun with this kid, man. And I'm seeing it with my three-year-old, too. He wants to do what his big brother and his dad are doing. You know, it's just, it's fantastic. It's brought us closer together. All right, there's a lot I got to cover on the

program today. You know that traffic nuisance that's been, that's been a pain in the ass by Bel Air Market and by the St. Anne's Belfield Academy exit and across the Bel Air neighborhood? They're doing that massive development. You can see the red Virginia clay and a boatload of heavy equipment, construction equipment. Well, and now has a name. And I gave the hat tip to deep throat for putting this on my radar this morning. The project is called the Dean. It's a new project on Old Ivy Road and the 250 bypass. There are 68 units that are now on market and available for rent. Went live today. This is breaking news for you, the viewer and listener. who watched this talk show.

We'll give some props before we get to the news to Charlestville Sanitary Supply and Charlottesville Swimming Pool Company. John and Andrew Vermillion run a business that's 62 years old. And if you need anything for your family swimming pool, just like our family swimming pool at our home in Ivy, you contact John and Andrew Vermillion, water testing, pool robots, pool covers, pool shade, above-ground pool construction, below-ground pool construction.

Charlottesville Swimming Pool Company is who you contact and anything cleaning or vacuum-related, sanitary-related, Bona-Harwood Floor-related, it's Charlottesville Sanitary Supply. East High Street, 62 years in business. Here's the breaking news. The project has a name. It's called the Dean.

The developer is an international developer, Grey Star Real Estate Partners. They are out of market, obviously. They're building 525 units here, all build for rent. The first 68 units are now online and available for rent with move in June 15th. These price points will startle you. We have photos we're going to show you and we have square footage we're going to discuss with you as well.

I'll give you the nitty gritty before you show the pictures on screen, Judah. The one bedroom, one bathroom units are 740 square feet, 740. June 15th availability, a monthly price point for rent of $2,098 a month for the sake of a talk show, I'm going to call it $2,100 a month. $740 square feet, one bedroom, one bath, $2,100 a month. They also have three bedrooms and two and a half bathroom units available for rent. Also with a, oh, geez, some of these three bedroom, two and a half baths have July 15th availability. Some of them have June 15th available

availability. So this is phase one rolling out as they're being constructed. For the June 15th availability on the three-bedroom two and a half bath the price points range. Giddy up and get ready for this. The price points range ladies and gentlemen from $3,500 a month all the way up to $4,600 a month for a three-bedroom two and a half bath. You heard,

me correctly, $4,600 a month for a three-bedroom, two and a half bath, square footage, 1,430 square feet. I'm going to ask these questions, who is going to rent these units? And what will these escalated rent prices do to the Charlottesville-Almoral County market? Deep Throats is a smart guy, one of the smartest people I know. He puts these at, and I did the basic math as well, price per square foot, ladies and gentlemen, of $250 to $3 a square foot per month. That's not cheap. $2.50 to $3 per square foot per month.

My response to him setting me that information, two words, Jesus Christ. That's literally how he responded to him. Not to take the Lord's name in vain right there, but that was my immediate response. Let's show the photos. Do we have those we can put on screen? Here are the photos.

This is breaking news for you. You've driven by the development project on the 250 bypass at the St. Anne's Belfield exit, at the Ivy, at the Tiger Fuel Bel Air exit, across from Bell Air Market. Let's put the photos on screen, Judah Wickhauer. Tell me when they're on screen. Let us know what we're looking at

while the photos are on screen if you could. This looks like a trail behind some of the, what might be a clubhouse with a pool and some other buildings in the background. We also have some pictures of what looked like individual units. I don't know if these are houses or meant to be, you said they're all rentals.

Everything is for rent. They do have a single family detached homes here for lease. Yeah, that's what these are. We've got, here's a nice looking kitchen. I mean, these have been, the fixtures and the finishes they've chosen for these rentals are pretty luxurious, ladies and gentlemen. Yeah, here's a living room. I think the same living room or different living room from a different angle.

Carpet looks the same. We've got a picture of another nice kitchen. Look at the screen, viewers and listeners. The fixtures and the finishes for these. Judah's exact description in our pre-production meeting was this looks like a resort. Show the amenities that they have for this project, ladies and gentlemen. They have putting greens. That's the next, well, not the putting greens, but this looks kind of like a backyard park.

for a multitude of looks like single family and it looks like attached and detached here are the putting greens there is a photo here of they have a gym the weight room this gym can rival part of ACAC's gym

they have co-working spaces ladies and gentlemen that's what we got on screen now and that leads us to the last picture which is look like some some attached townhouse style rentals this is insane folks you are looking at price points that are I mean frankly a landlord's dream I have 24 doors in my portfolio the residential units that are in our portfolio when they come available for rent this is immediately what I'm going to do I'm turning this

property over. My tenant doesn't perhaps want to continue leasing. I'm not saying that's the case. I'm just saying in this scenario that they choose not to renew their residential leases with me. I say, I'll understand. I'll take the property off the market for about a one-month period of time. I have a fantastically talented Latin crew that manages all my inventory for me. They do it at 40% haircut on market rate. They'll paint it. They'll do the carpet. They'll do handyman work. They'll turn it around in two weeks. I will then immediately look at the unit and I'll price it at a 15 to 20% reduction on what Grey Star is doing here with its new rental stock. And that 15 to 20% reduction will still be 25% more than the rent I'm commanding right now. So I'm going to utilize the

rental rate card that is this project on Old Ivy Road. And I'm going to say this is the barometer for rents in Charlottesville and Almaro County. I'm going to take the barometer for rents in Charlottesville and Almoreal County and I'm going to cut that barometer for rents by 20%. And that 20% that 15% to 20%

will still be 25% more than I'm making right now and in a one month period of time of taking a unit off market of painting it, of carpeting it, of doing handyman services like screen doors like hardware on cabinets.

I will have made, let's do some basic math here. let's just say the entire portfolio turns over. Hypothetically, that would never happen at one time. But let's say it does. A 25% uptick would make me overnight an additional $75,000 per year for doing jack, I was going to say,

for doing jack shit, $75,000 extra per year because of this project right now. And I'm going to emphasize this to viewers and listeners again. And this is the back and forth I had with Neil Williamson, the president of the Free Enterprise Forum on Real Talk this morning. Oshronomics, Natalie Oshran. She is a huge proponent of the trickle-down impact of housing inventory. All additional housing inventory, even of the luxury variety,

is going to create housing affordability for Charlottesville for the city. That's her mindset. Oshronomics. Michael Payne is a Oshronom. Actually, Michael Payne is backtracking from Oceronomics because he didn't vote. in favor of the mark. Lloyd Snook and Juan Diego Wade are of the oceanomics mindset. Okay?

Oceanomics, ladies and gentlemen, does not create housing affordability. All it's going to do is take local landlords like yours truly, who in the grand scheme of things is small potatoes. You think 24 doors is a lot of doors. I'm telling you right now, we work with clients. We drive through our consultancy, market share, and rent role, and yield for a lot of heavy-duty landlords. I'm talking property owners that own,

landlords that own hundreds of thousands of square feet of real estate. I'm talking hundreds of doors. I got one client with our firm that's probably got, I could even ballpark what he has, five or $600 million of real estate owners, in central Virginia. I mean, I'm working with him on a, on a, on a,

on a, $12 million building on the downtown mall. And that's a peanut in his portfolio. Five or, I couldn't even ballpark the value of the total portfolio, five or six hundred million. And here's little old me with 24 doors that overnight, because of this project, is looking at incremental take home of an additional $75,000

for doing nothing. Okay, so Oceanomics, I don't buy it. If you're just tuning into the program, we have breaking news for you. The Grey Star Project has 68 units now for rent. One bedrooms, the monthly rent is $2,100 a month for 740 square feet. The three bedrooms, two and a half baths, go $3,500 a month, all the way up to $4,600 a month. And I'm asking the question, who's going to rent these units, ladies and gentlemen? Are these units scheduled to be rented by the biotechnology population that is flocking to this community in the years 2026, 2027, and 28?

Folks that are kind of waiting on the sidelines to buy a home once they get their feet wet locally in the community? Will they be rented by military personnel locally? Will they be rented by students? Are students going to take their mommies and daddies black amics and drive their Porsche cops? Hyanns and their BMW X-7s and their GLEs and their Priuses and their land cruisers to this Grey Star project and two or from Darden and two or from grounds. Who's going to rent these? I don't have that answer for you, ladies and gentlemen. Who's going to rent these at these price points? Whoever's going to rent them has got to have a lot of money in there, a lot of dry powder

at their disposal. Okay? And I don't buy oceanomics that all supply is good for affordability because all I'm going to do is piggyback the coattails of this project with my 24-door portfolio, and I'm going to cut their monthly rental rates by 15 or 20 percent, and still I'm 25 percent higher than where I am today. That's what I'm going to do, and that's what a lot of other people are going to do. And I'll tell you right now, I have with our firm, somewhere between 150 to 200 doors that we're helping from an occupancy standpoint, and driving yield and value, okay?

And I can see just from our firm, when you have 150 to 200 doors concentrated in a certain area of city, how you can start driving and controlling and determining market rents. I see it firsthand. I'm doing it. Doing it right now. Okay? So we're going to follow these metrics.

We're going to utilize these metrics to drive value for everyone. That's paying us $2.95 or $3.95 an hour. facts on facts on facts don't buy oceanomics okay and i'm going to talk about this even more on monday show ladies and gentlemen again i have a one p.m. meeting which means we're going to be winding down here in about 60 seconds i'll close the program with a a plug for jerry rackliff jerry rackliff is a virginia sports hall of famer jerry rackliff is is is uh all over the larz tiffany story like white on rice if you're not a subscriber to jerry rackliff at $8.5 a month, you are not only missing the true reason of why Lars Tiffany was fired,

or why Lars Tiffany quit, or why Lars Tiffany did pursue a contract renewal. That story, Jerry Ratcliffe.com. And you're also missing an even bigger story of where the Olympic sports are at the University of Virginia and their future and how vulnerable and fragile the futures of every sport at the UVA athletic department currently is. The futures are so vulnerable and fragile that if you're not football, men's basketball, and women's basketball, your futures are on fragile, fragile, fragile ground. He's got the story at Jerry Rackliff.com, and it's $8 a month. Some of the best reporting I've read in my entire life. Ladies and gentlemen at jerry rackliff.com. Judah Wickhauer, Jerry Miller,

the I Love Seville Show, back in the saddle. Actually, not Monday. It's Memorial Day. Judah, you have a three-day weekend. Back in the saddle on Tuesday morning with Jerry Rackleff in the Jerry and Jerry and Jerry show. And it's going to be special. 1015, mark it down.