Portsmouth
Real Estate
New York City-based development firm buys 4 historic properties in downtown Portsmouth
Tim Foley believes in the potential of downtown Portsmouth. So much so that the principal owner of Lightwell Development, a New York City-based real estate development firm focused on historic tax credit renovation work, invested in four properties in the city totaling $15 million. “I think Portsmouth is so overdue for this type of expansion and this type of product,” Foley said. Foley grew up ...
Part of Isle of Wight County lake for sale
A 5-7% slice of Lake Tormentor can be yours for the right price. It’s not lakefront land or a house that Isle of Wight County is selling at auction for nonpayment of real estate taxes. It’s the lake itself. According to the county’s GIS map, over 98% of the 5-acre Days Point Road parcel is […]
Suffolk explores reduction in real estate tax rate in proposed 2024-2025 budget
In a vote of 8 to 0, Suffolk City Council approved a motion to have the city manager amend the real estate tax rate in the proposed 2024-25 budget. The proposed budget did not include a change to the $1.09 rate. However, councilman Roger Fawcett motioned to reduce the rate to $1.07. The reduction would […] The post Suffolk explores reduction in real estate tax rate in proposed 2024-2025 budget appeared first on The Suffolk News-Herald.
Suffolk developer buys 14 acres behind Smithfield Royal Farms
A month after Smithfield’s Town Council approved a Suffolk developer’s requested rewording of the town’s zoning ordinance, the land at the heart of the matter changed hands. According to Isle of Wight County land transfer records from March, developer Brian Mullins of Suffolk-based Quality Homes Inc. has acquired the 14 acres behind the Royal Farms […]
What new rules around real estate agent commissions mean for Hampton Roads buyers and sellers
Hampton Roads agents say they don’t expect drastic shifts in how real estate commissions work after a major national trade group announced several changes to its current system. The changes are expected to take effect mid-July as the National Association of Realtors announced a $418 million settlement with homeowners on March 15 to resolve lawsuits, pending court approval. The national ...
Habitat for Humanity on Southside, Peninsula struggle to secure land to build homes
VIRGINIA, USA — Hampton Roads directors who oversee Habitat for Humanity are struggling to secure land for their home builds. Rising costs and limited availability are preventing them from executing a key mission for their nonprofit organizations. "It takes 12 months from the day you buy land until the...
Hundreds of apartments, houses could be headed to Churchland in Portsmouth
PORTSMOUTH, Va. — There's a plan on the table to bring hundreds of apartments and homes to Portsmouth. Grove Church is working with Ripley Heatwole Company to potentially convert a portion of a 36-acre property into a housing development. According to documents presented to Portsmouth City Council, the property...
Hampton ranked sixth on '11 Towns Where You Can Actually Afford to Buy a Beach House'
HAMPTON, Va. — Hampton was named as one of the top affordable beach towns in the United States. Thrillist ranked Hampton sixth on their list of top cities where you can "actually afford to buy a beach house." The study assessed property prices in shorefront locations across the United...
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