Virginia
Hines Secures $160M, Acquires 258 Acres in Virginia for SF Homes
Hines is growing its residential footprint in the Washington, D.C., metropolitan area.
The global real estate investment firm, together with several partners, has secured $142 million in acquisition financing to buy 245 acres of land in Virginia’s Loudoun County to build more than 1,000 single-family homes, Commercial Observer has learned.
Kennedy Lewis provided the acquisition loan for the larger Loudoun County project, which will be known as Village at Clear Springs and sit in Leesburg, Va., just 40 miles outside of Downtown Washington, D.C.
Hines secured an additional $18.4 million from Western Alliance Bank to acquire 13 acres in Manassas, Va., to build 162 single-family homes and townhomes for residents of Prince William County.
Hines bought the land in Loudon County from Clear Springs Development, with Trez Capital, DRB Group and Estein USA serving as partners on the project.
Andrew McGeorge, senior managing director and city head of the D.C. office at Hines, told CO that the housing market of the nation’s capital is “severely undersupplied,” and that his firm plans to leverage its experience in the area to address the shortage.
“We see tremendous opportunity with the acquisitions of these sites to build master-planned communities that offer a high-quality and diversified product to help address this housing shortage,” said McGeorge. “We have experience in these markets and are expecting to see continued success in developing these communities.”
The lots for Village at Clear Springs in Loudoun County have already been pre-sold to DRB Group and NVR. Construction is expected to require three phases, the first of which will begin in 2025 and the last completed in 2030.
The development will feature 1,077 units: 230 single-family homes, 667 townhomes, and 180 affordable units.
The development will also feature a 19-acre indoor-outdoor tennis and pickleball complex owned and operated by the United States Tennis Association.
“We look forward to the positive impact these new communities will have, spurring economic growth and providing much-needed housing options,” said McGeorge in a statement.
Located just a short walk from the Manassas Battlefield Museum (site of the famous Battle of Bull Run that opened the Civil War in July 1861), the smaller Parkridge West development will supply 162 units of single-family homes and townhouses in the Northern Virginia town.
Hines acquired the site from Willard Retail/Buchanan Partners, and has already pre-sold all lots on the site to NVR.
Parkridge West is expected to open in 2027, following the start of construction next year.
“We are pleased to partner with Hines once again, further strengthening our strategic relationship with joint-venture equity investments that support housing needs in the Washington, D.C., metropolitan statistical area,” said Sam Salloway, senior managing director and head of equity investments at Trez Capital, in a statement.
McGeorge’s statements noted that Prince William County carries favorable demographic trends for residential assets and an undersupply of housing stock.
Moody’s predicts the D.C. metro area will require 26,000 single-family homes per year through 2030, while the Northern Virginia Association of Realtors found that the average home price in Northern Virginia increased 10 percent in May 2024 compared to May 2023.
Correction: An earlier version of this article characterized the Hines acquisition as a multifamily community of single family rentals, when it is for single family homes for sale.
Brian Pascus can be reached at bpascus@commercialobserver.com
Virginia
West Virginia Turnpike | Thanksgiving holiday travel forecast
CHARLESTON, W.Va. (WSAZ) – The West Virginia Parkways Authority is expecting an estimated 715,100 total transactions to take place at the West Virginia Turnpike’s three toll booths in the six-day Thanksgiving holiday travel period from Tuesday, November 26, 2024, to Sunday, December 1, 2024.
“Wednesday and Sunday of Thanksgiving week are typically two of the busiest travel days we experience on the West Virginia Turnpike during the entire year” said Jeff Miller, executive director of the Parkways Authority.
On Wednesday, November 27, 2024, 150,000 transactions are expected to take place on the West Virginia Turnpike, with 160,000 transactions expected on Sunday, December 1, 2024.
A total of 127,500 transactions are expected on Tuesday, November 26, 2024, with heavier traffic from 3 p.m. to 7 p.m.; 65,000 transactions estimated on Thanksgiving Day, Thursday, November 28, 2024; and 82,500 transactions estimated on Friday, November 29, 2024. On Saturday, November 30, 2024, the West Virginia Parkways Authority estimates 127,500 transactions at Turnpike toll booths.
Copyright 2024 WSAZ. All rights reserved.
Virginia
UVA Football Report Card: Handing Out Grades for Virginia vs. SMU
It’s time to break down Virginia’s 33-7 loss to No. 13 SMU on Saturday by handing out some report card grades for various players, position groups, and other categories to evaluate the Cavaliers’ performance in week 13.
We’ll save the QB debate of Colandrea vs. Muskett and Tony Elliott’s handling of that situation for another time. We’re only interested in grading Colandrea’s quarterback play on the field… which left a whole lot to be desired. We’ll give Colandrea some slack because he was frequently under duress throughout the game and didn’t turn the ball over for the first time in over a month. What we won’t give him credit for is his artificial completion percentage. He completed 18 of 27 passes (67%), but fueling that (on paper) decent stat is Colandrea’s mind-boggling refusal to throw the ball away or attempt to push the ball down the field. The offensive line is not in good shape, but at least a few of those nine sacks were instances where Colandrea ran himself into sacks instead of getting rid of the ball. The one touchdown pass to Malachi Fields late in the fourth quarter represented everything good and bad about Anthony Colandrea all wrapped up into one play, as he retreated 20+ yards to evade pressure before unleashing a beautiful throw to a target he may or may not have seen open in the back corner of the end zone for a four-yard touchdown pass that traveled more than 30 yards through the air. Unfortunately, the Cavaliers have only seen but rare glimpses of that “electrifyingly good” version of Anthony Colandrea in the last several weeks.
Tony Elliott, at least partially, threw the offensive line under the bus in his postgame press conference on Saturday, citing the team’s inability to protect the quarterback as a reason why inserting Tony Muskett into the game would not have made much of a difference. While that point is debatable, it is true that UVA’s offensive line struggled mightily against SMU, giving up nine sacks and two more quarterback hurries, 12 tackles for loss for a total of -72 yards, and blocking for a ground game that averaged just 1.7 yards per carry. You’re not going to win a lot of games like that.
Something is seriously wrong with Virginia’s passing game and the responsibility is shared among several parties. Anthony Colandrea is scrambling too quickly before going through his reads, isn’t willing to throw receivers open, and hasn’t been able to hit on deep balls since early in the season. For their part, the Cavalier receivers have struggled to gain separation, nor have they been able to turn the short throws into big plays – Chris Tyree has not been nearly as impactful as hoped and Trell Harris is severely missed as a deep threat. We’ve already discussed the offensive line, which has to encourage Colandrea to stay in the pocket by keeping that pocket intact for more than a second or two. And of course, the coaches bear responsibility for not being able to adjust the scheme to put Colandrea and his receivers in better positions to connect, especially in the middle of the field. The outcome of all of this is that an SMU defense that came into this week ranked 13th in the ACC in pass defense managed to hold Virginia to a season-low 108 passing yards.
This isn’t surprising at this point, but it doesn’t make it any less of a problem. Virginia has had games of 73, 68, 7, and 65 yards rushing this season. Not being able to win the line of scrimmage is a big part of it, but Saturday added injury to insult as the Cavaliers lost Kobe Pace and Xavier Brown to injury, leaving Noah Vaughn as the team’s leading rusher in the game. Brown will be out for the rest of the season with a broken collarbone, while Pace is questionable for next week at Virginia Tech.
Virginia averaged 2.6 yards per play. That just about sums it up.
Virginia’s best stat of the game was that SMU running back Brashard Smith, who entered the week as the ACC’s third leading rusher averaging more than 100 yards per game and more than six yards per carry, managed just 63 total rush yards and only 3.3 yards per rushing attempt. The bad news for Virginia is that SMU more than made up for that in the passing game…
The Mustangs threw for 323 yards through the air, including a series of big plays as the Cavaliers were carved up by Kevin Jennings and company. Still, UVA managed to bend, but not break until the late stages of the game, holding SMU to field goals and even coming up with a couple of turnovers to try to set up the Virginia offense with good field position.
For the second week in a row, the UVA defense played well enough to make this a competitive game, only to watch as the UVA offense continued to drop the ball. This game was 7-0 late in the first half and it was even still within reach early in the fourth quarter. John Rudzinski’s unit has been playing well for the last three weeks.
There were no catastrophic special teams miscues, but Will Bettridge missed a 41-yard field goal, Chris Tyree and Kam Courtney both tried to catch a kickoff and fumbled it (barely recovering), and the Cavaliers allowed a 48-yard punt return to Roderick Daniels Jr. Daniel Sparks had a good day punting the ball, so that’s nice.
Virginia finishes the season with a 2-4 record at home, losing those four games by a combined 71 points. The announced attendance on Saturday was 36,305, which was the second-lowest attendance of the season. It seems to be a cyclical problem of poor performances contributing to poor turnout and the resultant poor atmosphere meaning the Cavaliers essentially have zero home field advantage.
Virginia Football: Xavier Brown Out for Season With Collarbone Injury
By the Numbers: Breaking Down Virginia’s 33-7 Loss to SMU
VIDEO: Tony Elliott, UVA Football Players React to SMU Loss
Five Takeaways from Virginia Football’s 33-7 Loss to No. 13 SMU
Virginia Football Rolled By No. 13 SMU 33-7 in Home Finale
Virginia
Man charged with town's first 'stranger rape' in over 12 years in Virginia – Times of India
A Honduran man faces rape charges after allegedly assaulting a woman on a popular hiking trail in Herndon, Virginia, US. Police said this is the first stranger rape in the town in over a decade.
Denis Humberto Navarette Romero, 31, has been arrested and charged with intent to defile and rape, according to the Herndon police department. The victim, who did not know Romero, was attacked on the busy Washington and Old Dominion Trail when he allegedly grabbed her arm, forced her to the ground, and assaulted her, according to a New York Post report citing police.
“The woman had been walking along the trail after leaving a business in downtown Herndon when she was approached by the suspect.The suspect brazenly grabbed the victim and forced her to the ground, where he proceeded to rape her. The victim was able to fight off the suspect and run away,” said Herndon police chief Maggie DeBoard in a press conference, as quoted by local media FFX Now.
‘This is the only stranger rape we’ve had in the town in my more than 12 years as chief of police,” DeBoard added, as quoted by New York Post.
Before being arrested on rape charges, Romero, originally from Honduras, a country in Central America, was released from jail on November 14 after serving half of a 50-day sentence for indecent exposure.
Virginia governor Glenn Youngkin criticised the release of Romero, who is in the US illegally. He told The Post, “I am heartsick for this victim and outraged that local Fairfax County officials recklessly released violent illegal immigrants who should have been prosecuted and deported.”
Youngkin added, “This is a dereliction of their most basic duty to keep people safe. Prioritizing violent illegal immigrants over the safety of Fairfax residents is unacceptable,” stressing that Virginia is not a sanctuary state.
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