Greg Pearson

Chesterfield property values expected to decline next year

This article originally appeared in the Chesterfield Observer, an RBS news partner. Tax revenues in Chesterfield County are likely to continue declining next year because existing residential assessments are projected to drop 2 percent while commercial assessments fall another 8 percent. That was the sobering news presented last week by Allan Carmody, the county’s budget… Read more »

Chesterfield county to cut workforce 10 percent

This story originally appeared in the Chesterfield Observer Chesterfield County government will have about 10 percent fewer job positions this coming July, compared with the same time a year before. That represents 200 fewer full-time employees and vacant positions and 120 part-time employees and vacant positions. The recession has sapped tax revenue from county budgets…. Read more »

Less rent means lower appraisals

The value of existing commercial real estate in Chesterfield County dropped an average of 6.4 percent or $418 million last year, according to the county assessor’s office.

Bowling complex coming to Chesterfield

You’ll know the new entertainment complex off Hull Street Road by the giant bowling pin on the roof. No confusion there. Plus, several other commercial real estate updates from Chesterfield.

Apartment signs effective, but not kosher in Chesterfield

A Chesterfield apartment complex is being told by the County government to take down road-front signs on its property to comply with zoning laws. The apartment complex says the signs are the most effective form of advertising and that the development is a huge economic engine.

Chesterfield development plan on hold again

The 63-acre Cheatham property in the northwest quadrant of routes 288 and 360 has location in its favor, but numerous obstacles have kept a proposed commercial and multifamily project on the site in Chesterfield County’s development pipeline for almost two and a half years.

Tougher runoff standards would slow growth

The state is seeking to reduce the amount of phosphorous runoff allowed by new developments, a measure that could limit the scope of new construction projects if it becomes law.

Magnolia Green goes into foreclosure

The financially troubled Magnolia Green Development, LLC (MGD) has been foreclosed on by its New York lender, iStar Financial. The lender claims that MGD has defaulted on a loan of $96.9 million that was issued in January of 2007, according to legal documents. The property will be offered for sale on May 19, the Times-Dispatch… Read more »