Business news from the Fredericksburg region.
Silver Cos. planning subdivision in Spotsy
An affiliate of the Silver Cos. is planning a 35-home residential development off Harrison Road in Spotsylvania County.
The Estates at Kingswood is planned on the north side of Harrison Road near the intersection of Nicholls Road and just east of Interstate 95.
The Silver affiliate plans a cluster subdivision of 35 single-family homes built on lots averaging about 0.6 acres.
Silver is negotiating with builders to sell the individual lots, said Ed Minniear, president of the company’s residential division.
Silver has gotten more active in residential development of late as the housing market has improved. The firm is also working on plans for a residential project near its Cowan Crossings commercial project in Fredericksburg as well as a 249-home subdivision near the Chancellorsville battlefield in Spotsylvania.
US trade deficit rose in January
WASHINGTON—The U.S. trade deficit widened slightly in January as a rise in imports of oil and other foreign goods offset a solid increase in exports.
The trade deficit increased to $39.1 billion, up 0.3 percent from December’s revised $39 billion deficit, the Commerce Department reported Friday.