The proposed Thacker’s View project would bring 260 residential units, most of them single-family homes, to site on Swift Creek Reservoir. (County documents)
Planning Commission recommends approval of 260-unit project on Swift Creek Reservoir
The Chesterfield Planning Commission last week voted to recommend approval of a proposal to build a subdivision on 139 acres bordering Swift Creek Reservoir.
Cross Creek Development Corp. is seeking zoning approval for a 260-home project called Thacker’s View that would rise on a three-parcel assemblage that includes 4901 Woolridge Road.
The project would feature 165 single-family homes and 95 townhouses in addition to the construction of a restaurant and amenities on the property.
The project site was formerly home to wedding and events venue Celebrations at the Reservoir, which closed in January 2022. The proposed development is a joint venture between Cross Creek and the Thacker family, which owns the site.
The Planning Commission voted 4-1 to recommend approval of the project. The Board of Supervisors will render a final verdict on the zoning request at a future meeting.
Cross Creek is seeking to rezone the land to Residential (R-12) from the current Agricultural (A) designation.
S&P Global upgrades City of Petersburg’s bond rating
S&P Global Ratings upgraded the City of Petersburg’s general obligation (GO) bond rating from A+ to AA-. The city said in a release that the upgrade “reflects Petersburg’s continued achievement in obtaining a solid and secure financial position, including increased reserves and liquidity.”
According to the release, Petersburg’s full faith and credit pledge secures the GO bonds outstanding. The 2024 GO bond proceeds will finance the new courthouse facility, the renovation of a new police station, the construction of a new animal care center, and $1.3 million for refinancing older bonds for net savings.
“Petersburg’s upgraded bond rating reflects continued growth and economic recovery,” said City Manager March Altman, who said Petersburg’s fund balance of approximately $50 million “gives it the flexibility to move forward with needed capital projects.”
“I commend City Council and Petersburg’s Department of Finance for making decisions based on sound fiscal management,” Altman said.
The enhanced credit rating brings lower interest rates, increased borrowing power, economic development opportunities and investment options. Mayor Sam Parham said Petersburg’s goal is to achieve a AAA rating,” the highest rating possible.
“With the growth of the Pharmaceutical Campus, the recent approval of the Destination Resort Casino, and the many other economic development and tourism projects, the City is positioned to continue to grow its tax base and fund balance while addressing much-needed capital projects,” Parham said.
Moody’s, another bond rating agency, affirmed Petersburg’s A1 underlying and Aa1 enhanced ratings, and bond rating agency Fitch affirmed the city’s A+ rating.
Henrico promotes Bowles to county building official
Bowles Bolman
Henrico County promoted longtime staff member H. Bolman Bowles to building official for the Department of Building Inspections.
Bowles, who previously served as deputy building official, succeeds Greg Revels, who is retiring after more than 26 years in the position.
As the county’s building official, Bowles will direct the efforts of a department with 58 employees and a budget of $6 million for the 2024-25 fiscal year. Building Inspections reviews and inspects structural, mechanical, electrical and plumbing systems of buildings and structures in the county to ensure compliance with the Virginia Uniform Statewide Building Code, the county said in a release.
Bowles has been a member of the Building Inspections staff since 1987, when he joined the department as a civil engineer. He also served as a senior plans review engineer before being named deputy building official in 1998. Bowles has a Bachelor of Science in civil engineering from Virginia Tech and a Master of Public Administration from VCU.