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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.

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Silver affiliate acquires residential lots in city

An affiliate of the Silver Cos. last month purchased 22 residential lots next to the company’s Cowan Crossings commercial project in Fredericksburg.

A limited liability company called Cowan Miller purchased the lots from a Charlottesville-based trust for $1.05 million, according to city records.

The lots are adjacent to other residentially zoned land that a Silver affiliate acquired last year between U.S. 1 and Keeneland Road, near the intersection of U.S. 1 and State Route 3.

Silver officials are now working on plans for a residential community on the roughly 9-acre site. Engineers are  working on an overall layout and preliminary plan, and the company expects to submit an application to the city in the next two months.

The community would be just south of Silver’s Cowan Crossings commercial project, which will include a First Citizens Bank branch, a CVS, a Burger King and other commercial users that are still being recruited.

Permalink: http://news.fredericksburg.com/businessbrowser/2014/01/07/silver-affiliate-acquires-residential-lots-in-city/