Standard Communities Picks Up Virginia Senior Property
The total capitalization for the 597-unit Chesapeake asset was $68 million, including renovation and other costs. Apr072021
Chesapeake Crossing
Standard Communities, the affordable housing division of Standard Cos., has purchased a 597-unit, mixed-income senior asset in Chesapeake, Va. The total capitalization of the deal was roughly $68 million, which includes renovation and other costs. According to Yardi Matrix, Boyd Homes was the seller of the property, dubbed Chesapeake Crossing.
The new owner is planning to implement a $7.5 million capital improvement plan that will upgrade individual units, as well as the amenities, parking and courtyard. The property’s fire and safety systems will also receive an overhaul. NorthMarq brokered the sale o behalf of the buyer.
Sarasota Herald-Tribune
NORTH PORT – The city of North Port has started an online survey to receive feedback from city residents as it heads into budget season. The City Commission will host its first public discussions of budget development at a special meeting set for March 29.
The survey, which can be found at bit.ly/3bdQSme, is due by March 5.
The six-page survey is anonymous, though it does open with a question about how long the respondent has lived in the city.
It’s possible to weigh in on how well the city is meeting its stated goals and whether the projected $42 million widening of Price Boulevard should be subject to a referendum.
NORTH PORT – Changes in the schedule and fee structure for programs at the North Port Aquatic Center will be the subject of a special meeting of the North Port City Commission at 10 a.m. Tuesday.
Tricia Wisner, assistant director of parks and recreation for the city of North Port, said the proposed changes come from both attendance trends tracked by the city and feedback from users through surveys and other comments.
The surveys were conducted online and live during special events.
The biggest proposed change water park users would notice involves a proposal to open at 10 a.m. instead of 1 p.m., after monitoring officials noted the frequency and time of day the pool had to be closed because of nearby lightning strikes.