The I Love CVille Show With Jerry Miller! - Should UVA Champion CVille Biz Community?; Is Bottom Line Most Important For UVA W/ CVille?

Episode Date: October 30, 2024

The I Love CVille Show headlines: Should UVA Champion CVille Biz Community? Is Bottom Line Most Important For UVA W/ CVille? Why Are Real Estate Sales Slowing In Central VA? 1309 Belmont Park: $632K A...sk, 1BR, 1BA, 1013 SQ 1309 Belmont Park: Built In 1940, 0.21 Acres Why Is 1309 Belmont Park Asking $632,000? Two Months Left In 2024 – Stories Of The Year UVA BBall Is Losing Players, What’s Happening? 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.

Transcript
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Starting point is 00:00:00 Good Wednesday afternoon, guys. I'm Jerry Miller. Thank you kindly for joining us on the I Love Seville show. My phone is blowing up right now. I certainly appreciate your viewership and listenership. I really hope you watched yesterday's program with John Vermillion, the president of Charlottesville Sanitary Supply on High Street. His business has operated for 60 years consecutively, 60 consecutive years, and is in the midst of his, John's two sons running and managing the business. So we're talking three generations of Charlottesville Sanitary Supply. We talked not just about Charlottesville Sanitary Supply yesterday, but John's perspective from his perch as president of a 60 consecutive year business,
Starting point is 00:00:57 the 2023 Small Business Chamber of Commerce Person of the Year, John Vermillion, and what it's been like to run a business in the Charlottesville, Alamaro County, and Central Virginia community. I mean, heck, grow up in the business. He said the business is six months younger than he is. John's 60 and the business is 60, and he's been working in the business for 40 straight years himself after watching his mom and dad launch the business. So a couple of things struck me from yesterday's interview. One of them that has really resonated with me overnight and into this morning and afternoon is the role the University of Virginia has. Is UVA so focused
Starting point is 00:01:39 on what's doing what's best for UVA and UVA only, that the collateral damage is the diminishment of icons and institutions locally, and not just business? Is UVA so focused on running its endowment and its operation with an eye on nickel and dimes that it's not doing what's best for the community at large, whether it's housing, whether it's people, whether it's championing small business, whether it's taxes and paying their fair share.
Starting point is 00:02:19 So I want to unpack that topic on today's program. I think we've seen, because of a lack of institutional memory, and he highlighted Leonard Standridge, and I mistakenly called Leonard Standridge yesterday the president. He's not the president of the University of Virginia. A friend of the program, Jim Hingely, immediately corrected me and said, Sandridge was vice president and not president on yesterday's program. But John Vermillion of Charlottesville Sanitary Supply said, there was a time with the University of Virginia where you had leaders like John Castine, like Leonard Sandridge, that were in position as leaders of the university for years, decades,
Starting point is 00:03:07 multiple decades, for generations. Now you don't see that same kind of longevity atop of the leadership totem pole. And because we don't have that longevity atop of the totem pole, maybe the commitment to the community at large is not as passionate or as loyal or as focused as once was. And when the number one driver of the region is a university that is led by people that are new to the area, you are going to have some things fall in the cracks or become collateral damage. And unfortunately, some of the damage we're seeing
Starting point is 00:03:40 is the small business ecosystem is not being prioritized like it once was by the major elephant in the room, UVA, and how it chooses to spend its money. I was really surprised during yesterday's interview to hear from other small business owners like friend of the program, Stephanie Wells-Rhodes, who highlighted her family company, Interstate Pest and Service Company, also experienced some of the, how would I characterize this? The marginalization, the forgetfulness, the mistreatment, the nickel and dime nature of the university as it applies to a business that otherwise had supported or serviced the university for years or decades or longer. So let's talk about that today, viewer and listener. I want to put these questions in a nutshell before I set the
Starting point is 00:04:36 table for the rest of the program. First question I have for you is, should UVA champion the Charlottesville area business community? The second question I have for you, is the bottom line the most important focal point for the university ahead of what's best for our community at large? Another question I have for you, is Virginia UVA so focused on becoming a new Ivy, this new Ivy category or brand that the university is embodying, that it's willing to do whatever it takes to take that moniker on at the expense of what's best for our community,
Starting point is 00:05:18 real estate, what's best for our community, paying their fair share of taxes, what's best for our community, doing what's right for the people that live in the community, doing what's right for the businesses in the community that have proudly served the university for generations in the past. This is a hell of a topic to unpack on today's program. Also on today's show, ladies and gentlemen, we're going to talk about a real estate listing that should raise the eyebrows of everyone in the community.
Starting point is 00:05:46 And I'll give you the address for you to Google it yourself. 1309 Belmont Park. I'm looking at it now. I think you have some photos you can put on screen, right? Let me know when those are on screen. And start with the outside if you could, please. Before I offer perspective on this, I give props to Charles McDonald. They're on screen? Yeah. Look at the screen now. I give props to Charles McDonald, the listing agent,
Starting point is 00:06:10 who's doing what is best for his client. I don't know if his client asked for this price point and asking price of $632,000. I don't know if Mr. McDonald suggested the price point be $632,000. A listing agent's responsibility is to do what's best for their client. And Mr. McDonald is a reputable and known commodity in real estate circles as a good reputation. I was taken aback when I saw on Facebook, I first saw this on Brandon Lloyd's Facebook page. I follow Brandon Lloyd. I think he offers compelling content. That a home in Belmont that is 84 years old on 0.21 acres, that's one bedroom and one bathroom and 1,000 square feet, has an asking price of $632,000.
Starting point is 00:06:58 Then I read the marketing, the copy within the listing, and I see that this home is on a large double lot and a desirable CX3 zoning with a desirable CX3 zoning distinction. The opportunity to build additional density on this property is evident. So Mr. McDonald and his client are marketing and promoting this Belmont cottage, and I use the word cottage loosely, as a teardown, basically, that has significant upside with what you can build from a density standpoint to rent or sell, if you're a speculator. This is a microcosm of what I said would happen with the new zoning ordinance. We're making the dirt under teardown houses so opportunistic and so expensive that affordable housing cannot materialize from it. It's one thing to have a rancher in the Lewis Mountain neighborhood sell for nearly a million dollars or 800 and some thousand dollars, be a teardown, and six brownstones be birthed in its place. Brownstones that will have a listing price
Starting point is 00:08:12 of a million three roughly, each brownstone, with elevators and all the trims and fixings. This is being done in a tony neighborhood within walking distance of the University of Virginia. It's another thing altogether to have a bungalow, a cottage. What do you call this, Judah? I'm trying to be fair to the home and not use terminology that I shouldn't. What do you call the home that you're showing on screen? Open floor plan bungalow. Okay. I respect that. Open floor. I honestly don't know. Would you pay $632,000 for it to live in it? I'd want to
Starting point is 00:08:53 do a walkthrough first. Okay. Judah would want to do a walkthrough. I would say no. I would not pay $632,000 to live in this house. What's being sold is the upside. I want to unpack this on today's program. I want to ask you, the viewer and listener, and I want to ask the community,
Starting point is 00:09:09 the realtors that watch this program, the bankers that watch this program, the lenders that watch this program, the closing agents that watch this program, the home inspectors, the photographers, the speculators and buyers and sellers, why is the real estate market slowing at a sales pace? Kerry Rock watching the program.
Starting point is 00:09:29 He owns a home in the city. His nonprofit, Do Good Seaville, is doing a co-drive as we speak. He said the sale of his house stalled, so we pivoted to leasing it until 2026. Viewers and listeners, why is real estate moving at a snail's pace right now? Sincere question for you, Judah. In April, six months ago, five months ago,
Starting point is 00:09:57 and I know this because we sold our home in Keswick and bought a home in Ivy five months ago. Closed on the Ivy home in June. What is that? Four months ago. The market was briskly moving. You still had multiple offers, competitive scenarios.
Starting point is 00:10:19 You had foot traffic and inventory was moving in a couple of weeks span at all price points. Now we are in October, right around Halloween, and inventory is stuck in quicksand. What has changed the market? What has changed? Expectations, maybe. That's fair.
Starting point is 00:10:42 Were people expecting rates to go down? From my understanding that despite the changes, the rates haven't gone down. You're 100% right. Judah Wickhauer on point today. Rates are back at a 7 or have a 7
Starting point is 00:10:59 handle or more. Rates have not fallen despite a cut by the Federal Reserve a handful of weeks ago. I have some answers to that. I want to talk about it today with you, the viewer and listener. And the last topic on today's talk show is this. Ron Sanchez and the Virginia men's basketball team are, I'm going to be straightforward right now, reeling, are absolutely reeling. Ladies and gentlemen,
Starting point is 00:11:40 since Tony Bennett announced his retirement less than two weeks ago, two weeks ago. Two weeks ago, what? Tomorrow? Friday? Something like that, yeah. Thursday evening, because it happened before. The press conference was Friday. Less than two weeks ago, Tony Bennett announced his retirement.
Starting point is 00:11:59 Since then, Virginia men's basketball has lost two scrimmages. Virginia men's basketball has lost two scrimmages. Virginia men's basketball had a very important transfer from Florida State, a 6'7 point guard that was going to be a key player on this team, leave Charlottesville and Virginia's program without playing a single minute of basketball. And yesterday, they had their only commitment in the class of 2025, say, hasta luego, sayonara, see you later, I'm opening up my recruitment.
Starting point is 00:12:45 That commitment, a star basketball player from St. Ann's Belfield Academy. In 12 or 13 days, a Hall of Fame coach that walked on water, that took loaves of bread and some fishes and fed the thousands seated at the John Paul Jones Arena, said, I'm going to quit not even three weeks before the season starts. We saw a potential starter in the backcourt say, I'm quitting a few days before the season starts
Starting point is 00:13:15 without even playing a minute in Charlottesville, and I'm going to redshirt. I'm not even going to play this year. I know I'm going to quit UVA without having any other place to go. And I'm just going to sit on the sidelines for an entire year before playing again. But I know I don't want to do it here in Charlottesville at UVA. And then they had one of the best point guards in the nation, a homegrown talent that grew up going to the John Paul Jones arena that's playing at St. Ann's Belfield Academy saying, I'm opening up my recruitment.
Starting point is 00:13:46 I'm not committed to UVA anymore. I'm going to ask a sincere question. You may see the athletic director at the University of Virginia, Carla Williams, have two national coaching searches at the very same time with the two most important programs in her department, the two revenue generators, football and basketball.
Starting point is 00:14:04 Tell me how many athletic directors have that position or that plight. Very few, ladies and gentlemen. This show is absolutely loaded. We thank partners of the program like Charlottesville Sanitary Supply. 60 consecutive years in business. I was very moved by John Vermillion's interview yesterday.
Starting point is 00:14:21 If you have not watched John Vermillion of Charlottesville Sanitary Supply on the show, please watch yesterday's program. You can find it anywhere on social media where you get your podcasting content. And I encourage you, perhaps unlike what UVA is doing, to support the businesses in this community that you want to see survive another 60 years. It's not about nickels and dimes. It's about supporting the businesses that keep the community running and heading in the direction we want it to. Judah Wickauer on a two-shot. Viewers and listeners, join us for the conversation. Today's show is going to be red hot. What's the role for the university as it pertains to the
Starting point is 00:15:01 Charlottesville, Alamaro County, and Central Virginia community? Is it all about what's best for the orange and blue, what's best for grounds, what's best for the university, or can it be a world where what's best for the university is also what's best for Alamaro, also what's best for Charlottesville, and also what's best for Central Virginia?
Starting point is 00:15:24 I think there should definitely be room for UVA to consider that it does not live in a bubble. While it may drive value in central Virginia, if Charlottesville and Albemarle County and the surrounding area wasn't as beautiful, as accommodating, if it wasn't what it is now, then, I mean, imagine if the corner was just left to go to ruin. How many kids coming to orientations or to just check out UVA as a potential future for them, if they were to stroll down the corner and see a bunch of empty businesses, how would that affect their decision to come to UVA? I think that if UVA ignores the rest of this area, it does itself as much a disservice as the area.
Starting point is 00:16:48 True to Wittkow, we're on point. Fantastic first take. Neil Williamson, Free Enterprise Forum president watching the program, local TV station, local newspaper watching the program, a counselor and a couple supervisors watching the program. Mr. Williamson says markets hate uncertainty and elections breed uncertainty, which is his short analysis, which I think is very applicable on why the real estate market is stuck in quicksand right now. I think it kneels onto something, and that's going to be part of my commentary as we mature this program today. I want to talk University of Virginia. Kevin Yancey says,
Starting point is 00:17:20 UVA is only for UVA. Only for UVA. Judah Wickharris is exactly right. Sadly, I think that's true. Sadly, I think that's true as well. I'll ask you a follow-up question because you're so poignant with your perspective today. UVA is only for UVA today. That was not the case when I first arrived in 2000
Starting point is 00:17:40 as a mischievous and troublemaking first year in 101 Dabney, old dorms, right off of Bonny Castle Circle? How much is UVA is only about UVA a reflection that Jim Ryan is new to this community? A reflection that Craig Kent, the CEO of UVA Health, is new to this community? The dean of the medical school is new to the community?
Starting point is 00:18:06 How much of it is a reflection that C-suite and upper management with the university are fresh faces as opposed to the icons and institutions like the Leonard Sandringes, the John Castines. You go down the lawn and you see the professors living in the pavilion
Starting point is 00:18:24 and their names that you may not recognize that have withstood the test of time. Are we in a university where the, and they're still teaching, but it's a sincere question, as you look at the center screen over there on set, are we in an educational bubble or educational world where the Ken Elzingas and the Larry Sabados, the Lou Bloomfields, the John Castines, and the Leonard Sandridges go by the way of the city manager that has spent 20 or 30 years governing Charlottesville? Is it such an ADHD society, what have you done for me lately society,
Starting point is 00:19:15 that the university's been impacted by it, and as a result, the relationship or the loyalty or the commitment to the small business, to the everyday laborer, to the commitment to improve the community, to pay your fair share of taxes, to help from a housing standpoint, to maintain the betterment of quality of life
Starting point is 00:19:40 in Central Virginia has been splintered, if not fractured? I don't know if it's just a problem with UVA. I think it's increasingly we're seeing things like this where the bottom line is the most important,
Starting point is 00:20:02 whether it's UVA, whether it's corporations, whether it's UVA, whether it's, you know, corporations, whether it's governments. I think more and more, I don't know if it's a, I don't know if we're losing the thread. I don't know if, I think that more and more the answer to far too many questions is looking out for yourself, whether yourself as a corporation or a person or whatever. I think UVA is looking out for itself. I'll give a couple of circumstances.
Starting point is 00:20:45 A couple of examples that backs up my argument. The interview from yesterday. Where the bottom line and nickels and dimes are being prioritized over decades of business with a locally
Starting point is 00:21:03 owned business. Stephanie's follow-up, how it pertained to interstate. Other examples. Season ticket holders at Scott Stadium that had seats for generations being told, if you want to keep the same seats, you're going to give us thousands of dollars of commitment or we're going to push you to the nosebleeds if you don't. Other examples. UVA Health. Changing medical charts and the alleged fraudulent billing to maintain performance standards or to make as much money on patients in arguably their most vulnerable stage of their lives. The response of Jim Ryan
Starting point is 00:21:48 to the 128 anonymous doctors, Jim Ryan said, billing is fine. The medical charts are fine. These are just crybabies that are unhappy at work and are a very small population. What the Jefferson Council has said, out-of-state students, 80 grand plus in tuition, room, and board to attend the University of Virginia. And if you can't afford it, we don't want you coming here. Thomas Neal, the president of the Jefferson Council on the I Love Seville show,
Starting point is 00:22:16 a man who's a financier, who said on the program, my family has household income well over a quarter million dollars a year. Can I afford today with well over a quarter million dollars a year. Can I afford today with well over a quarter million dollars a year, his words, to send my two daughters like we sent them to UVA out of state at an 85 a year clip? He said, that's a third of my gross take.
Starting point is 00:22:42 Exact words. The University of Virginia. We had to twist their arm. Michael Payne. That's a third for one kid. And he had two in school. Think about that. Two out of state daughters.
Starting point is 00:22:57 Michael Payne having to twist the university's arm. Lobby the community. Paying a living wage of $15 an hour. $15 an hour as it shakes out is $30,000 a year. $10 an hour is $20. Another $5 is $10. $30,000 a year is $15 an hour.
Starting point is 00:23:19 We just saw the Charlottesville Redevelopment and Housing Authority say a studio apartment, setting the rents, the Housing Authority of Charlottesville, setting the rents at over $1,500 for a tiny studio apartment. $1,500 a month, 12 months is $18,000 a year. UVA's living wage is $30,000. How is someone going to be able to make that work? Good question.
Starting point is 00:23:58 Are we in this position where we're seeing the Mel's Cafe closing, the Blue Moon Diner closing, other businesses in the community that have served lifetimes of Charlottesvillians and Alamaro Countians close, saying, we can't make it. I think Mel's is a special case. Reed's Grocery. Yeah. Another example. Little John's, closing and reopening. Are we in this position because of COVID and the pandemic, a hybrid and virtual remote work environment has created a flood of transplants living here with no long-term commitment to the community? Are we in this position because the university
Starting point is 00:24:41 lacks institutional leadership atop the totem pole that are committed to saying we'll pay a little more to work with these people because we know the money stays in the community and the job will get done right is it all of the above and how do we shift this this this this domino effect or this snowball effect that is gaining obvious momentum. Obvious momentum. Eventually, the family, the sisters behind
Starting point is 00:25:11 Reeds, are going to say, good God, we've tried everything. The family owns the real estate. We're going to have to sell this and close this store. Yeah. Right? I hope not but yeah that may eventually happen
Starting point is 00:25:28 I genuinely have this question George Gilmer GG should you be addressing the UVA foundation which owns a ton of property in the area another white elephant you keep scooping and buying property and don't pay the taxes on said property and then you fall back
Starting point is 00:25:48 on this argument. Well, without us there would be no economy locally. And I'm not disregarding that. It's not untrue but that doesn't make it right or good for the area. Deep throat. Number one in the family.
Starting point is 00:26:09 UVA made a big to-do about adopting a $15 an hour rage. That was in 2019. Inflation since then is 24%. At this point, you just have to say bad faith. I doubt any procedure at UVA Health has stayed at a flat price since 2019. I sincerely was taken aback by hearing John in very frank and analytical fashion yesterday, say the number one driver of the economy in this community is not focused as they once were
Starting point is 00:26:53 to supporting the businesses in the community and the people in the community like they once were. Neil Williamson makes the point that, for what it's worth, Jim Ryan, new to the community, Jim Ryan, has done more for affordable housing than any other president. Is that enough, Mr. Williamson? And he highlights to Georgia Gilmer, the foundation does pay taxes. It's the
Starting point is 00:27:23 university that does not. Comments coming in quickly, a topic that should be part of our everyday discussion. I encourage you to have these conversations at your weekend cocktail parties and cookouts. You know, the only force, the only force of nature capable of changing the behemoth that is the University of Virginia is the force of public opinion and public perception. It's the only one. John Blair, it's often forgotten,
Starting point is 00:28:15 but UVA has an affordable housing project. Notice that they didn't hire a local real estate developer, but instead hired Northern Real Estate Urban Ventures. How in the world did they not hire a local real estate developer, but instead hired northern real estate urban ventures. How in the world did they not hire a local real estate development firm for their affordable local housing project? Another microcosm right there. How about the Aramark partnership? As opposed to a more local partnership. Yeah.
Starting point is 00:28:58 My dad went to UVA. My brother went to UVA. I went to UVA. Grew up going to Charlottesville to games, watching football and basketball on television. There was one choice that I was going to apply for my entire life for school. It was UVA.
Starting point is 00:29:15 I got in early admission. My brother, same. There's many aspects of Charlottesville that I don't recognize anymore and many aspects of the university that I don't recognize anymore. No doubt. I'd be curious to know what people with experiences
Starting point is 00:29:48 with other universities have to say in regards to how endemic this is across the U.S. Great question for Deep Throat, an alum of Harvard. Great question for Deep Throat, an alum of Harvard. Great question for Deep Throat, an alum of Harvard. You had a university that was looking to... What's it called when you kick somebody out of their housing?
Starting point is 00:30:16 I'm drawing a blank. Evict fraternity members from an off-grounds fraternity house that promised not to have any parties or rush events because of some weak sauce alleged hazing, a confession that was blackmailed out of a ROTC student. Deep Throat says, Harvard has had a horrible relationship with Cambridge,
Starting point is 00:30:54 but Cambridge stood up for itself much, much more than Charlottesville has done. Am I correct in saying that there is a pilot program with Harvard and Cambridge, Deep Throat? that there is a pilot program with Harvard and Cambridge, deep throat. He says there was a famous Cambridge counselor, Al, is it Vellucci, who was always calling Harvard to the carpet and in funny ways. He passed a resolution declaring the Lampoon Castle a public urinal. And he says Harvard does have a pilot program, a payment in lieu of taxes with Cambridge of $10 million a year
Starting point is 00:31:32 and one with Alston of $10 million a year. Gigi, looking at the executive board of the foundation, how many are UVA alumni or natives of the area? It's a lot of transplants. She's a lifer here. Yancey, why didn't they hire a local company to do their mail service? Think about it, ladies and gentlemen.
Starting point is 00:32:08 Next topic, what do we got, Juno? Let's see. Ginny Who. Ginny Who, quickly. I'm sure with DoorDash this doesn't exist anymore, but we had Cavalier Dining Dollars, an extra fee you could add to your meal plan to be spent at certain local restaurants off-grounds. It was a great way for UVA to support local businesses and get students out of the bubble.
Starting point is 00:32:33 Ginny Hu says, along with John Blair's line of thinking, didn't the city just hire a firm out of North Carolina for landscaping? I'm pretty sure we have some fantastic local landscape companies here. I think we've been seeing it all around. It's everywhere. It's everywhere. It's unfortunate. It didn't used to be this way.
Starting point is 00:33:03 In some cases you would think that those services are more expensive, but perhaps the same type of issue you run into with Amazon, where they have they can scale and charge less
Starting point is 00:33:23 or, you know. Is your volume at a good level now i think so okay sandra mcdaniel when uva decided to move away from being a state employer changes also were made to outsource the bottom line is now what matters for uva on youtube thank you sandra from watching the program. I appreciate the content you post on social media, Sandra McDaniel. I very much find your trading activity compelling, Sandra. The next topic, as you put lower thirds on screen, is it the Belmont Park listing? Why are real estate sales slowing? Is that ahead of the Belmont Park listing? Why are real estate sales slowing? Is that ahead of the Belmont Park?
Starting point is 00:34:09 Yeah. Okay. Judah, I'm not going to name the brokerage. I'm not going to name the firm. I receive e-newsletters and marketing material from real estate firms all over central Virginia. And there's a few firms that are very high-end firms that have done a hell of a job cornering the luxury market. an unnamed boutique firm that probably has the most sales by agent of any firm in Central Virginia, an established firm. And this email correspondence highlighted the buyer commission that was being offered
Starting point is 00:35:10 for a listing in a very established and tony Albemarle County neighborhood. In the subject line, it said 3% buyer broker commission offered. I have not seen the marketing and promotion of 3% buyer broker commissions and materials in a very long time. Okay. The last time I can remember seeing listing agents waving the flag in marketing and promoting
Starting point is 00:35:53 that a 3% buyer broker's commission is being offered was the time of great unpleasantness. If you follow Zillow or Realtor, Redfin or the local MLS, you will see price cuts, price modifications, price adjustments, price reductions,
Starting point is 00:36:21 however you want to position it, happening extremely frequently. Three or four months ago, spring and early summer, it was a bonanza. Yes, the home had to be in good condition and priced fairly accurately. But the homes were moving here we are in october and we're trading in quicksand yeah and i asked the question what is going on locally with real estate kerry rock watching the program he said we had our home listed in the city we had to pull it off the market and now we made
Starting point is 00:37:06 it a rental and it's potentially going to go back on the market in 2026. What is going on? Do we chalk it up to Donald Trump and Kamala Harris? Do we chalk it up to Donald Trump and Kamala Harris? Do we chalk it up to... I mean, there it is right there on screen, 7% interest rates. Look at the mortgage refinance demand.
Starting point is 00:37:35 That's a chart that's downward. They're literally talking about this on CNBC in the studio. Are they not now? You see it, right? What do we chalk this up to? Refinance demand hit by high rates. Do we chalk this up to 7% or higher rates? I think that's part of it.
Starting point is 00:37:52 Do we chalk it up to a presidential election? Do we chalk it up to buyers that are waiting until the first quarter or second quarter of next year to see if they can get a five handle? I think everybody's hoping it'll come down. Do we chalk this up to sellers having inflated expectations for their homes? Expectations that may be rooted in a 2023 sales market? An early 2024 sales market? Put the Belmont Park listing on screen.
Starting point is 00:38:30 Ladies and gentlemen, you need to check this out. I encourage you to Google this on your own. I have to caveat this every time I've said this because I've heard from brokers that I'm not throwing shade on their listing. If anything, I'm giving their listing ridiculous exposure at no charge. 1309 Belmont Park. The listing is Charles McDonald's. Charlottesville Solutions is his firm.
Starting point is 00:38:55 Charles, I'll even give him your phone number. 434-515-1585. His listing is 1309 Belmont Park. You're putting the photos on screen? Yeah, I'm trying. One bedroom, one bathroom. The home is 84 years old. It's 1,000 square feet
Starting point is 00:39:15 and has an asking price of $632,000. $632,000. Now, why is this home asking $632,000? Because of its CX3 zoning distinction. Because of its large double lot. Because of its proximity to a park. Because of upzoning potential, because of the opportunistic nature of the dirt.
Starting point is 00:39:54 If you pay prices like this for the dirt only to have to knock down the house, then what are you paying per square foot for new construction? Anyone help me with that number? Any of the builders that are watching the show? That's a great question for you, John Blair. It's a great question for you, Deepthroat. What are you paying for new construction right now on a build? $250 a square? What's the going rate for new construction right now? I'm not talking remodel. I'm talking new construction. 250 maybe 235 you're not going to get affordability when you have to pay six hundred and thirty two thousand dollars for dirt then to tear the thing down then to wait a year 18 months before you can start construction you've noticed
Starting point is 00:40:44 the Lewis Mountain Evergreen Alderman Road brownstones haven't started yet. Have you noticed that? The carrying cost on projects like this, unless you're deep-pocketed and well-funded, will whittle you down like a number two pencil, like a mother and father after going four consecutive days with their students out of school,
Starting point is 00:41:09 overwhelmed by colds and snotty noses, and fussy and lacking sleep. We said this was going to happen. Sean Tubbs and one of his latest Charlottesville community substacks, We said this was going to happen. Sean Tubbs and one of his latest Charlottesville community substacks, Schimpf Engineering, his words, not mine. I'm reading verbatim, props to Sean Tubbs. Man does a great job.
Starting point is 00:41:34 Love seeing Sean Tubbs waddle down Market Street, his beard firmly manicured, wearing that, what's that type of hat? It's almost like that Kangol hat that you have on there. It's got the visor. What kind of hat do you call that? I don't know what you call that. You know what I'm talking about?
Starting point is 00:41:49 Yeah. I love when I see Sean Tubbs walking down Market Street. His words, not my words. Schimpf Engineering also filed the plans for 303 Alderman Road, which anticipate the demolition of a single-family house in favor of six units that take advantage of the residential B zoning. The city asked for a resubmission, and new plans were submitted on October 25 that eliminated the need for a special exception to exceed height limitations by five feet.
Starting point is 00:42:16 However, the company is now asking for a special exemption to the city's streetscape requirements. This is just ridiculous red tape that these builders have to go through that just erodes profits. Let's go to 303 Alderman Road. 303 Alderman Road. I'm going to realtor.com. I wish the GIS was as easily navigatable as the Realtor app was. I'm on realtor.com I'm waiting for it to load on my computer I'm going to property history it was sold on the 12th of June for $835,000
Starting point is 00:42:56 $440 a square foot we're talking a brick rancher that was 74 years old 3 bedroom, 1.5 bath 1,900 square feet .31 acres, $831,000. Luke Cole had the listing. Luke Cole, you did a hell of a job of log and foster.
Starting point is 00:43:13 You are sitting on this house evergreen since June. You got no construction. And when did we get sales? Maybe 2026? You're talking about brownstones with elevators. When will these six brownstones be readily available for purchase? Maybe the spring 2026 market? Could be.
Starting point is 00:43:42 I mean, think about that. Of course you have to charge an arm and a leg if this is what you have to go through 250 a square and it's garbage at 250 a square deep throats commentary not mine 250 you're probably calling 250 builder grade there 632 thousand
Starting point is 00:44:14 dollars and to think that's not even for the that's to tear the thing down and you have to pay extra pay another 20 grand to tear it down yeah and then whatever it costs Pay another 20 grand to tear it down. Yeah. And then whatever it costs. Pay another 20K to get the tap connection. Then they say it's 24% of the development is red
Starting point is 00:44:35 tape. Yeah. And then you're going to wait 18 to 24 months before you actually get sale. I talked to a developer that came on this show. Roger and Richard from the Woolen Mills Project down Market Street. They did a phenomenal job on this program outlining their Woolen Mills Project and how they were going to use the new zoning ordinance to get it moving. Is that Voizene and Price? Yes. Price is the new zoning ordinance to get it moving. Is that Voiznay and Price? Yes. Price is a fantastic squash player, by the way. An excellent squash player.
Starting point is 00:45:13 When I last spoke to him a handful of weeks ago, less than a month ago, I said, how's the project going? Nobody told me? Nobody told me? Nobody told me? No, I know. Not very good. I said, why?
Starting point is 00:45:32 Dealing with Charlottesville? We're waiting on the city. That's what killed my dad's company. We're waiting on the city. Waiting on response from the city. Exact words. The longer you wait for a response, the more you have to escalate the price.
Starting point is 00:45:52 Because you have to make some money. Weight on the city. That is the way. Last and final topic on the Tuesday edition of the show. Which one is it? Let's see. We've got two months left in 2024, and UVA basketball is losing players.
Starting point is 00:46:20 All right. This is a topic I want to start covering on the show as we wind down the year. I don't have this answer yet. I need to think about it. And I'm asking for your help, the viewer and listener. Put the storyline topic as a lower third. We have two months. Election Day is effing Tuesday. Is the world going to fall down on Tuesday or Wednesday? What is going to happen on Tuesday or Wednesday in the United States of America?
Starting point is 00:46:47 There's going to be an outcry one way or the other. What is going to happen on Tuesday, Wednesday, and Thursday of next week? I sincerely, like, part of me is popping the popcorn to watch what happens on Tuesday. I'm going to have some of my favorite beers. My wife and I are going to be in the California King with the TV right in front of us. The I are going to be in the California King with the TV right in front of us. The popcorn is going to be popped. She's going to have some IPAs. I'm going to have some
Starting point is 00:47:11 IPAs and we're going to watch what happens. And it's going to bleed into Wednesday and Thursday. What is going to happen? Part of me is on the edge of my seat. Part of me is absolutely terrified. That's a macro story. That's the story of 2024. I want you, the viewer and listener, to help me answer this question. What are the micro stories of 2024 for Charlottesville, Alamo, and Central Virginia? What are the stories of the year? One of them is obviously the pro-Palestine protests that led to pepper spraying students. Obviously, another story is 128 UVA doctors alleging that the hospital system, the health system, is fraudulently billing patients and changing medical charts to maintain performance standards. That's another story. A third story is,
Starting point is 00:48:04 what the hell happened to Jim Ryan? We don't even recognize him for seven years ago when he first took this job to what he's doing now, today. Now in a backyard brouhaha with the Daily Progress and Reynolds Hutchinson, Jim Ryan. Those are the UVA stories to follow. Tony Bennett retiring, a UVA story to follow, three weeks prior to the season. That yields or leads the decommitment of a Florida State basketball player, a prized transfer portal addition, that quit the team before playing even one minute for the team. And it also led to the St. Ann's Belfield Academy star basketball player saying,
Starting point is 00:48:43 I'm not playing for this team anymore, I'm opening up my commitment. Those are the UVA stories to follow. What are the Charlottesville stories to follow? Is it the folks suing the city on the new zoning ordinance and that it was rushed and it didn't have the right procedure and protocol and planning? We just had what? Was it a Fairfax judge, J-Dubs? Who offered his, a Fairfax circuit court judge that nullified the Arlington new zoning, up zoning? And had to be called out of retirement because the other judges were all had all recused themselves. While the Charlottesville judge is living in the city and has not recused themselves. While the Charlottesville judge is living in the city and has not recused himself.
Starting point is 00:49:27 And we still haven't heard from the Charlottesville judge on the NZO. Is that the story? One of many. Is the story of Charlottesville for 2024 the closing of all these businesses? Is that it? That's part of it. I mean, do we have to put a list of them together?
Starting point is 00:49:56 I don't think any story is independent of itself. Is it the closing of Charlottesville? Is the stories of Charlottesville, the passing on free money from the Commonwealth, this one tied to transportation, just like they passed on the free money on the streetscape, the West Main streetscape project that Kathy Galvin and Heather Hill were big time trying to push through. One of the critical gateways to the city is the stories of Charlottesville for 2024, the Bo Carrington Wendell Wood, Zero East High Street project that was kiboshed by residents around High Street that said, we don't want this project to happen we're going to use political outcry and political pressure to keep housing from materializing despite the fact that city hall wants housing to materialize is the story of 2024 when chris henry goes into a church on preston avenue and gets proverbially lambasted proverbially
Starting point is 00:50:43 shot in the chest with arrows by the 10th and Page neighborhood for Phase 3 dairy market, apartments that he was going to build on asphalt parking lots and in place of falling down laundromats? If they understood what housing was all about and this new housing was built, it would have actually taken the pressure off 10th and Page
Starting point is 00:51:00 and the speculation that was happening in a historically black neighborhood. Is the story of 2024 the grocery store that's being dangled almost like a carrot or a bunny rabbit at a racetrack with thoroughbred dogs and horses chasing after it, saying,
Starting point is 00:51:15 I'm going to get that carrot. I'm going to get that grocery store, despite the fact that they never will get the carrot or the grocery store? Is that the story of 2024? Is the story of 2024 a six-foot-four George Clooney look-alike who puts on a police badge and a bulletproof vest and comes to Charlottesville and cuts crime and violence down, and finds people that are utilizing guns and stealing cars to scare the community, and locks them up and puts them behind bars?
Starting point is 00:51:51 Is that the story of 2024? What are the stories of 2024? I want you, the viewer and listener, to help me understand what the top storylines of 2024 are. Because much like Gotham, this is a city that never sleeps. Much like Batman, there is always someone on the prowl driving the news cycle.
Starting point is 00:52:23 And I'll close the program with this. You have Ron Sanchez, the interim head coach, who has not coached a regular season game yet that has already lost a basketball player that was going to be a starter, not played a single minute, and has already lost the local hometown superhero. He's also lost two scrimmages.
Starting point is 00:52:54 This has all happened within less than two weeks, about 12 days, of a man that walks on water and takes a few loaves of bread and a couple of fishes and feeds 15,000 at the John Paul Jones Arena. Holy H-E-double hockey sticks, Batman. The Wednesday edition of the I Love Civo show. Thank you kindly for joining us. For Judah Wickauer, I'm Jerry Miller. Thank you for watching!

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