Virginia Beach company will open second facility

Chesterfield County:

“The Memory Center, a Virginia Beach-based company that specializes in services for people with Alzheimer's disease and other dementias, said it plans a second assisted-living community - this one in Chesterfield County near Richmond.

The company, whose principals are Kevin DiBona and Paul Hirschbiel Jr., said The Memory Center of Richmond will be located on a 4-acre site adjacent to Bon Secours St. Francis Medical Center. It's scheduled to open in 2015 and will feature 48 residential units designed around a 'town center' that will include a movie theater, general store, bank, tavern, library, ice cream stand and salon.

The Memory Center's first community opened in 2008 on Old Donation Parkway in Virginia Beach.”

~Writes Dave Mayfield of The Virginian-Pilot

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2014 home sales lag behind 2013 in January, February

Hampton Roads:

“Real estate agents say that Hampton Roads will have a stronger housing market in 2014. Even so, recent housing reports indicate that the region lagged behind 2013 in the first two months of the year. January and February home sales were down 9 percent this year compared to the same time last year, according to the latest report from the Real Estate Information Network, the region's multiple listing service.

Home sales fell 2.1 percent in February compared to a year earlier, marking the second consecutive dip after a drop of 15 percent in January year-over year. Snow and budget uncertainty issues had been blamed for the slow start in January. Even so, one bright spot was Portsmouth, which saw a 25 percent increase in sales from February to February. Suffolk saw the largest drop by 34 percent. Active listings and pending sales remained flat. New construction sales dropped 12 percent year-over-year.”

~ Writes the Daily-Press

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CSPDC's HOME Down Payment Program

Central Shenandoah PDC:

“The HOME Down Payment Assistance Program (DPA) in the Shenandoah Valley region has received $75,000 in funding for the calendar year 2014. Created to help first-time, income-eligible homebuyers to obtain decent, safe and affordable housing, this Housing and Urban Development (HUD) program has been administered in the region by the CSPDC for the Virginia Department of Housing and Community Development (DHCD) for more than a decade. It has helped 225 people grow their personal wealth and equity through homeownership.

For more information on the HOME program contact Kimberly Miller, kimberly@cspdc.org, 540.885.5174.”

~ Central Shenandoah PDC

Report says new home sales in Central Virginia were up 30 percent in 2013

Central Virginia:

“The number of new home sales in Central Virginia increased 30 percent to 2,763 in 2013 compared to 2012, and the average price for a new home rose 9 percent to $341,407.  New home construction picked up as well, with building permits 25% higher than in 2012, according to a new report.

The Home Building Association of Richmond (HBAR), in partnership with Commonwealth Partnerships, released a semi-annual report that looks at the state of the housing industry in the greater Richmond area. ‘We felt very strongly that there was a need for this kind of data among professionals in the housing industry in Central Virginia,’ Craig Toalson,  the HBAR’s CEO said in a statement.

Data provided by Integra Realty Resources-Richmond (IRR) indicates that while activity was up last year, it remains below pre-recession levels. Still, ‘The increase in new home sales and new development activity are positive signs for the industry,’ said Ken Brown, Senior Managing Director at IRR. Chesterfield County was the most active jurisdiction in terms of new home sales. In 2013, the county captured a 38 percent market share. Chesterfield, Henrico and Hanover Counties accounted for 81 percent of all new home sales in the market. Yet Goochland County saw the largest jump in the number of overall home sales in 2013 with 131 percent more closings than in 2012.”

~Virginia Business

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For an online version of the report, click here