Community Impact
The ABC project will invest over $80 million into Albemarle County, providing benefits such as mixed use trails, traffic solutions, a large tax base of infrastructure and real estate improvements, and homes to both businesses and families.
Unique Greenfield Opportunity Zone
ABC provides a large greenfield built to suit development for large office tenants (20,000 sq ft +). Currently, there are no available sites in Albemarle located in an Opportunity Zone that are large enough for a major employer to locate in a single building.
Increasing Property Values
Nearby property owners in the 5th Street area will see their property values increase due to proximity to an attractive commercial and job center.
Farmers Market
Because of the proximity to major corridors, ABC has decided to reserve the main commercial parking lots for farmer’s market use.
$10 Million in Economic Impact and Tax Benefits
ABC, when fully built out and will provide over $10 million in direct tax economic impact to our community. Some of this would be captured in tax revenue through property tax, and indirectly, through sales and personal property tax. Through its life, our project will have a net positive economic impact through total industrial output, value-added, and employment and contribute millions of direct property tax to the County.
Pedestrian Interconnections, Trails, and Sidewalks
ABC offers a large amount of interconnectivity to adjacent parcels including multi-use trails, sidewalks, and plantings along 5th Street Extended, Old Lynchburg Road, Country Green Road, and Mountainwood Road. These improvements will link existing neighborhoods to ABC as a commercial center.
Bus Stop Improvements
ABC will improve the existing bus stop substantially and integrate the stop with the pedestrian orientation of the development.
Greenspace and Green Screens
ABC has tree screenings, dedicated central park spaces, and other open space that makes the area more inviting and desirable for tenants, residents and pedestrians.
Parking Considerations
Parking spaces will be required to make ABC competitive to other competing Class A offices such as various other new downtown mall-area buildings. In order to screen parking, we have designed our retail buildings to frame the main corner intersection and have provided ample tree screens and setbacks in order to make the site more attractive from the entrance corridor.
Large Employment Center
ABC could provide office space for several hundred professional workers and additional retail employees.
Workforce and Affordable Housing
ABC will designate a minimum of 15% of all apartments built as affordable, meaning they will be affordable to people making 80% or less of the AMI. This is consistent with the County’s affordable housing policy.
Albemarle County will benefit from more than $1 million in cash and improvement proffers and more than $10 million in direct real estate taxes.
Proffer Statement
$500,000 in Cash Contribution
$100,000 in Land Dedication for Roundabout
Proffer Plan
$440,000 in Mixed Use Trails and Easements
$20,000 in Bus Stop Improvements
More Tangibles:
Immediate economic benefit to ABC local vendors, architects, landscapers, contractors, etc.
Indirect taxes, sales tax, economic synergies, local vendors and services, etc.
Positive value to surrounding properties, workers and homeowners
What is the public-private partnership with Albemarle County Economic Development?
In April of 2020, the Board of Supervisors approved a partnership agreement with ABC that does not take effect unless the rezoning is approved. Because this agreement is contingent upon a rezoning approval, it is considered separately from the rezoning application. The Board and the Economic Development Authority entered into this partnership because ABC is consistent with and promotes several policies, objectives and strategies of the Economic Development Strategic Plan (Project ENABLE) and the Comprehensive Plan, such as promoting growth within the development area, supporting economic development of underutilized properties, seeking private investment for public benefits and enhancing the job and tax base of Albemarle County. The ABC project will invest over $40 million into Albemarle County, providing benefits such as traffic solutions, a large tax base of infrastructure, real estate improvements, and homes to both businesses and families. The agreement outlines how the developer will work with Economic Development to construct and market at least 25,000 square feet of space for “primary businesses” as well as provide:
Enhanced Connectivity: sidewalks, pathways, and pedestrian crossings throughout the project site for the public
Dynamic Transport Pick-up: a safe and attractive place to access transport services
Enhanced Bus Stop: a stop that includes an enclosed shelter with glass, lighting, and seating
Bicycle Racks: bicycle parking and racks at all project buildings
Dog Park: an exercise and play area for dogs as shown on the agreement exhibit (unless otherwise agreed) A copy of the partnership agreement is available from County staff.
What is an Opportunity Zone and how does it help Albemarle County?
This area of Albemarle County has been recognized by the Governor as a U.S. Department of the Treasury “Qualified Opportunity Zone,” which provides a revitalization tool for low-income census tracts in the Commonwealth. Through several investment incentives, it makes locating a business in these areas very attractive. The Opportunity Zone requires the businesses and development be under the same location and ownership for a minimum of 10 years in order to achieve the maximum incentive, ensuring the current developer and the future tenants will be involved for at least a decade.
COVID-19 Accommodations
Within the building we would develop space plans which employ smaller and isolated HVAC zones. This will eliminate the possibility of having virus contamination spread throughout the extent of the building and contain any contamination within a single zone
Partition walls would go to the ceiling to accomplish this containment strategy
HVAC systems would be equipped with air filtration systems using MERV 16 or HEPA filters which would trap more than 95% of the virus in the filtration system. Increased frequency of filter exchange will be maintained.
Installation of an irradiation system using UVC bandwidth light which damages, weakens or destroys the virus depending on the length of exposure to the light.
Installation of humidifiers which contribute to the virus absorbing moisture, expanding and more successfully being eliminated in the filtration system.
Near future technology which may become available include:
Air washers on the scale for commercial installations which contribute to the virus growing in size, falling from the air and then can be cleaned off of surfaces during regular cleaning maintenance.
More intense UVC irradiation systems which will shorten the time of exposure needed to kill the virus as it circulates through the HVAC system.
How do we proffer to manage traffic impacts?
ABC proffers $500,000 in infrastructure improvements. Per our traffic study, a traffic light would mitigate our traffic impacts. Based on discussions with County traffic planners and VDOT, it’s possible the County would prefer other traffic improvements. If the County traffic study calls for another traffic improvement solution, we will contribute $500,000 cash plus land dedication for a future roundabout. We will also improve the existing bus stop at that location and construct multi-use paths and dedicate right-of-way to VDOT for the path improvements.
What uses have we eliminated from the project?
With our Code of Development, we have eliminated uses that are typically seen as undesirable in Albemarle County, including mechanic shops, heavy industrial, gas stations, car washes, etc.