Archives

lindley (1)

Business Insider

Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

Share
RSS feed of this blog

Haven developer closes on Fredericksburg land deal

MORE: Read more news from Fredericksburg

Johnson Development Associates, which is developing the Haven apartment communities in the area, closed this week on 14.6 acres at Celebrate Virginia South in Fredericksburg. The South Carolina-based firm paid $4,375,000 for the land, which is next to the completed 232-unit Haven first phase. Celebrate Virginia South’s landowners will use the money to pay overdue city taxes, Community Development Authority assessments and other expenses. 

Johnson Development plans to build 250 apartment units at phase two and start as market conditions dictate, said Ben Graves, JDA’s multi-family division president. The company has had a good response to its first phase, which it has listed for sale. Graves said the company has received “an initial round of strong offers from qualified buyers” and is now narrowing the field to a group of finalists.

JDA is also now starting the first phase of its Haven development at Cosner East near the Spotsylvania Regional Medical Center.

Permalink: http://news.fredericksburg.com/businessbrowser/2011/10/26/haven-developer-closes-on-fredericksburg-land-deal/

*/