Two large swaths of land in the greater Manchester are now considered part of their respective historic districts after a unanimous vote by two boards for the Virginia Department of Historic Resources (DHR).
This was the second time this proposal was before the board. The first proposal had the entire expansion in the Manchester district. The board delayed the vote and one developer Michael Hild sent an email to city and state leaders stating that the delay could cause a loss of $250 million in investment that his company Church Hill Ventures had planned for the area. Since that time Church Hill Ventures has put roughly half (14 of 30) their properties up for sale.
The DHR board suggested splitting it into two districts for an increased chance of success. The strategy obviously was successful. The Manchester Historic District has added a few jigsaw puzzle pieces and the Blackwell Historic District was created. This means that roughly 320 additional properties might be able to apply for state historic tax credits. Federal historic tax credits will have to wait for official approval by the National Park Service.
For more details check out Richmond BizSense.com’s article.
For the Hild’s perspective, you can check out their Dogtown Dish article. The Hilds own and Michael is the primary author for the local Manchester blog.