CURRENT TRENDS IN REAL ESTATE AND THE RICHMOND REGIONA PUBLICATION OF THE RICHMOND ASSOCIATION OF REALTORS®

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IN THIS ISSUE:

• CHESTERFIELD SCHOOL REVITALIZATION PLAN— TIMELINES FOR UPCOMING PROJECTS

• THE CURTAIN WILL RISE FOR NEW CHESTERFIELD ARTS CENTER

• THE RISE OF THE ‘CONNECTED’ HOME

• SPOTLIGHT ON RVA—NOTABLE HONORS OF 2014

• PLANT SOME HOME EQUITY THIS FALL— BEST TREES FOR ADDING VALUE

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RICHMOND

InterpreteRHousingSEPTEMBER 2014

EVERYTHING’SCOMING UP

Several schools in Chesterfield are showing their age. Thirty county schools are forty or more years old, with twenty-two schools between twenty and thirty-nine years old. Only six schools are less than ten years old. In an effort to sustain the quality of life and education that currently exists in Chesterfield, the Richmond Association of REALTORS® worked dilligently last year to help ensure passage of a bond referendum that would fund renovations to ten schools (and construction of one new school to ease overcrowding at Watkins and Bettie Weaver elementary schools). The major categories for anticipated maintenance needs are roof replacements, floor coverings, mechanical systems replacements and upgrades, essential school furniture and equipment, and other building renovations and grounds improvements. There is also a need to make improvements to buildings to conserve energy, as well as to improve security for students, faculty and staff.

Here is a look at the schools slated for revitalization as part of the Capital Improvement Plan, the scope of each project, and their anticipated start and completion dates.

Chesterfield Public School Revitalization PlanA Look at the Timelines for Upcoming Projects

Providence Middle (46 years old)Project: Renovations to the building envelope, mechanical and electrical systems; furniture and fixtures; and site improvements Start Date: FY2015Projected Completion Date: FY2019

Monacan High (35 years old)Project: Space expansion for fine arts and physical education; renovation, re-orientation, and expansion of administrative area for enhanced security Start Date: FY2015Projected Completion Date: FY2019

School Administration Building (46 years old)Project: This building has never been renovated. In order for this central office to continue to be used as a viable administrative space, renovations and system upgrades are necessary. Start Date: FY2015Projected Completion Date: FY2019

Manchester Middle (50 years old)Project: Renovations to the building envelope, mechanical and electrical systems, furniture and fixtures, site improvements, and additional education space to eliminate the need for use of trailers at the school Start Date: FY2016Projected Completion Date: Fall 2018

Beulah Elementary (67 years old)Project: Construction of a replacement school with 150 additional seats on a site more centrally located in the school attendance zone Start Date: FY2017Projected Completion Date: FY2020

Enon Elementary (86 years old)Project: Construction of a replacement school on the current site is planned. Numerous building code changes since the original construction, together with the need for additional parking, additional education space to eliminate the need for trailers, and an expanded bus loop and student drop-off, will require the purchase of additional contiguous land to complete the project. Preliminary design is planned for FY2016, with construction to follow in FY2018. Start Date: FY2018Projected Completion Date: FY2020

Matoaca Elementary (77 years old)Project: Preliminary work for a replacement school on current site, incorporating the “look” of the old building, maintaining a multi-story school, and conforming to Matoaca Village design standards. Start Date: FY2017Projected Completion Date: FY2020

Tim Bullis, Chesterfield Public Schools Director of Community Relations, guides a Chesterfield School Revitalization Bus Tour for several local citizens

Reams Elementary (46 years old)Project: Renovations to the building envelope, mechanical and electrical systems, furniture and fixtures, and site improvements, which will provide enhancements and efficiencies to the existing space Start Date: FY2020Projected Completion Date: FY2023

Harrowgate Elementary (55 years old)Project: Renovations to the building envelope, mechanical and electrical systems, furniture and fixtures, site improvements, and additional education space that could eliminate the need for the use of trailers at the school Start Date: FY2020Projected Completion Date: FY2023

Crestwood Elementary (52 years old)Project: Renovations to the building envelope, mechanical and electrical systems, furniture and fixtures, site improvements, and additional education space that could eliminate the need for the use of trailers at the school Start Date: FY2021Projected Completion Date: FY2023

New (Not yet named) Elementary SchoolProject: Construction of a new elementary school to relieve overcrowding at Watkins and Bettie Weaver Elementary schools—to be located in the northwestern area of the county Start Date: FY2021Projected Completion Date: FY2023

Ettrick Elementary (47 years old)Project: It is likely, given the updated plan for expansion of Virginia State University and its impact on the Ettrick area, that this school may need to be relocated. The current school property may have alternative uses, given thew new VSU plan. With residential growth planned for areas adjacent to Ettrick (in part due to anticipated VSU staff growth) there may be a better location for the school in the long term. Start Date: FY2022Projected Completion Date: FY2024

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THE CURTAIN WILL RISE FOR NEW CHESTERFIELD ARTS CENTER

A long-time goal to build a cultural arts center in Chesterfield County is finally approaching fruition.

In the early 1990s, a committee of citizens formed to review the Chester Village Plan, including a new library and arts complex to be built through a bond referendum. In 1996, this project was split into two phases. The first phase was the land purchase for the two buildings and construction of the library; the second phase was the financing and construction of the arts center. After the passage of the first bond referendum, the land was purchased and the library was built.

In 2001, a group of community members formed the Chester Community Association; which then formed an arts center committee, charged with finding the means to build the 18,000-square foot arts center. In 2003, the committee became an independent 501(c)(3) non profit, now called the Chesterfield Center for the Arts Foundation. In 2004, Chesterfield citizens approved a second bond referendum allocating $5.9 million for the arts center, out of the $8.5 million total cost. The private donations needed to close the financing gap stalled during the recession and the project could have been severely set back or killed, if over $1 million in private donations were not raised by this November, when the county’s ability to sell bonds for it would have expired.

Chesterfield Center for the Arts Fundraising Committee Chairman Hugh Cline is credited with this effort, as well as large recent donations from former grocery store owners Jim and Bobby Ukrop and Richmond-based MeadWestvaco.

“The Chesterfield Center for the Arts will feature a 350-seat theater, a lobby that doubles as an art gallery, a 75-seat multipurpose meeting room, classrooms, and an open terrace with 100 seats.”

Center for the Arts rendering courtesy of Chesterfield County’s Department of Public Affairs

Center for the Arts theater rendering courtesy of Chesterfield County’s Department of Public Affairs

“He [Cline] is amazing, and is one of the major reasons the Board of Supervisors is now moving forward with this,” said Betty Matthews, Chair of Chesterfield Center for the Arts Foundation’s board of directors. A second $1 million must be raised within the next year to run day-to-day operations at the arts

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Cline believes this will give the county’s housing market a competitive edge. “Now, when somebody is coming to work as an executive at the paper plant on Willis Road, they will say, ‘Why don’t we live in Chester or why don’t we live in central Chesterfield? We don’t need to go to Rocketts Landing or the Fan,’” he said. center. “The county administrator has given us confirmation that they will go forward with building the center—now we need to work on raising the money to turn the lights on,” Matthews explained.

In an informational YouTube video hosted on the Foundation’s website, Chesterfield County Administrator Jay Stegmaier touts the community impact of the Center. “I think this [will be] a wonderful facility—a facility that’s lacking among all the other great things we have here in Chesterfield,” he says.

The Chesterfield Center for the Arts will feature a 350-seat theater, a lobby that doubles as an art gallery, a 75-seat multipurpose meeting room, classrooms, and an open terrace with 100 seats.

Cline believes this will give the county’s housing market a competitive edge. “Now, when somebody is coming to work as an executive at the paper plant on Willis Road, they will say, ‘Why don’t we live in Chester or why don’t we live in central Chesterfield? We don’t need to go to Rocketts Landing or the Fan,’” he said.

The tentative opening date for the center is fall 2016.

With a $1,000 donation to the Chesterfield Center for the Arts Capital Campaign—$500 by this November and $500 by November 2015—a limited number of patrons will have the opportunity to commemorate their support for the arts with an engraved plaque on one of the seats in the new theater/auditorium. More information is available at artschesterfieldva.org.

Site plan image courtesy of Chesterfield County’s Department of Public Affairs

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of remote control and automation on routine tasks at home.

‘Smart’ refrigerators can be integrated with a smartphone app to keep a running inventory of food in the home and make grocery shopping effortless. They can analyze this inventory and offer suggested recipes which use contents already available. On some models, notes and calendar entries can also be synched between an app and the refrigerator’s LCD screen, to facilitate communication among family members.

A ‘smart’ range can work with a smartphone to remotely provide updates on cooking and self-cleaning progress. A simple glance at a smartphone screen will indicate that someone at home has dinner ready or provide reassurance that the stove was turned off.

With ‘smart’ laundry appliances, users can remotely control and monitor the progress of wash cycles with an app. They can also get professional tips on stain care and receive mobile alerts when cycles are complete.

Appliance connectivity offers an additional method of curbing energy consumption in the home, as well. Some models allow users to monitor and adjust consumption remotely, for maximum efficiency.

Additionally, if a connected appliance breaks down, some ‘smart’ appliances can self-diagnose certain issues and communicate them to the brand’s customer support center.

As with most relatively new technologies, higher price tags temper early adoption. But according to a Juniper Research report published earlier this year, the industry for ‘smart homes’ is projected to reach $71 billion by 2018. Research by the National Association of REALTORS® already shows that home buyers are willing to place a premium on a home with newer appliances. It will be interesting to see in the future how—as they become more widely adopted—these connected features might affect home values. Premiums could one day shift in this direction.

Mobile devices are playing an increasingly prominent role in our daily activities, and their integration into our homes is no exception. Recent homebuilder industry shows have showcased mobile-integrated products for the home which enable consumers to manage daily household tasks remotely, and with unprecedented efficiency. Here is a look at some of the ways the trend of the ‘connected home’ could shape our daily lives now and in the future.

CLIMATE CONTROL Internet-connected thermostats allow homeowners to make home temperature adjustments from mobile devices while away, helping to conserve energy and reduce utility costs. Some car brands have latched on to this technology, using GPS and WiFi to send a signal to the owner’s thermostat when they are on their way home. The thermostat then adjusts itself accordingly.

SECURITY Now, a homeowner has the ability to turn lights on and off, lock and unlock doors, and view live video from their mobile device with remote security systems and connected keyless entry locks. Homeowners with these features no longer need to fret over whether they remembered to lock the door. Gone are the days of hiding a spare key inside a fake plastic rock. Homeowners with these connected features can receive e-mails, text messages, and video alerts in real-time containing updates on home activity—such as their child arriving home from school, or a smoke alarm triggering.

ENTERTAIINMENT Individuals who have a digital video recorder (DVR) subscription with a cable television provider can synch the DVR with their mobile device and control programming remotely, making it possible to record favorite shows from anywhere as they air and watch them later, at a more convenient time.

APPLIANCES This is a newer segment of connected home devices and allows for a seemingly limitless amount

THE RISE OF THE

CONNECTEDHOME

THE RISE OF THE

CONNECTEDHOME

SPOTLIGHT ON RVA—Notable Honors of 2014

It seems that the rest of the world is catching on to what Richmond residents have known for years—Richmond is an exceptional place to live, work, and play. 2014 has been a banner year for Richmond, as the media has taken notice of the city’s many standout attributes. Here are some of the most notable media accolades Richmond has received. Honor: #1 Happiest Metropolitan Area Source: U.S. Bureau of Economic ResearchRationale: Rankings were based on a large survey asking people about their life satisfaction Honor: One of Top Five ‘Least Stressed Cities’ in the U.S. Source: CNN MoneyRationale: Lowest unemployment out of 55 metro areas, workers spend less time commuting and fewer hours on the job

Honor: One of Eight ‘Under-the-Radar Foodie Cities’ in the world Source: Saveur MagRationale: Fresh takes on southern staples; chef collaborations; many niche restaurants and markets

Honor: Top Worldwide Destination Source: Frommer’sRationale: Wealth of historical sites and museums; growing slate of breweries, farm-to-table restaurants, and even white-water rapid activities cutting right through downtown

Honor: Best City for 4th of July Celebrations Source: Wallethub.comRationale: Affordability of accommodations; number of arts, entertainment, and recreation establishments; traffic; average drink prices (beer and wine); average gas prices; acres of parkland and swimming pools per capita; number of bars and restaurants; weather

Honor: #3 in ‘Best Mid-Sized Cities in America for Food Lovers’ Source: MyLife.comRationale: 4th highest number of farmers markets; number of top rated restaurants in the area; number of top rated restaurants that serve international cuisine

Honor: One of the ‘Ten Cities You Should Explore on Two Wheels’ Source: BuzzFeed.comRationale: ‘Historically rich rides’; hosting the UCI World Road Championships in 2015; 4-mile loop at James River Park, filled with great views of the river and iconic Hollywood Cemetery just across the river

Honor: Shockoe Bottom named #23 Best Neighborhood for Young People Source: Yahoo! FinanceRationale: Major destination in nightlife, dining, and entertainment; 13% of population is aged 25 to 34

Honor: Named New ‘Runner Friendly Community’ Source: Road Runners Club of AmericaRationale: Variety of trails, parks, and pedestrian networks in the city and surrounding counties; the Virginia Capital Trail offers miles of trails; variety of runner-friendly businesses and specialty stores; Richmond Sports Backers works with other local organizations to promote running; hosts numerous running events every year

Honor: #9 in the ‘Top Ten Cities for Responsive Open Government’ Source: Livability.comRationale: Citizens use online and mobile platforms to report issues in their city and one of the most popular of these sites keeps a ‘leaderboard’ for both activity and responsiveness from the city. During a random sample—weighted by population and averaged for an overall score—this is where Richmond ranked.

Honor: One of ‘Top Affordable Cities to Buy a Home’ Source: HomeInsurance.comRationale: Below average home insurance premiums; moderately priced homes; historical, cultural and recreational amenities

Honor: One of ‘Ten Hottest Housing Markets for 2014’ Source: CNN MoneyRationale: Home price gain forecasts; economic diversity; low unemployment rate

Honor: One of ‘Top Twenty Fittest Cities in America’ Source: American College of Sports Medicine’s American Fitness IndexRationale: Higher percent physically active, at least moderately; higher percent eating 5+ servings of fruits/vegetables per day; lower death rate of diabetes; more farmers markets per capita; more dog parks/park playgrounds/recreation centers/swimming pools/tennis courts per capita; higher level of state requirement for Physical Education classesFor an infographic featuring highlights of Richmond accolades during recent years, visit WeAretheR.com.

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Plant Some HOME EQUITY this Fall

Learn why planting trees around your home provides an excellent return on investment, as well as some Do’s and Don’ts for selecting, placing, and planting new sapplings.

We all know that planting trees is an environmentally beneficial practice. But did you know that according to the USDA Forest Service, healthy, mature trees add an average of ten percent to your home’s value? Quality landscaping, including well selected trees, has also been linked to fewer days on the market for home sales. Additionally, tree planting can help conserve energy. The USDA Forest Service says trees properly placed around the home can reduce air conditioning needs by thirty percent and save twenty to fifty percent in heating costs. The U.S. Department of Energy says that three properly placed trees could save between $100-$250 a year on energy costs. That is an excellent return on the investment in a sappling.

When to plant:

The best time to plant trees which are deciduous (those which lose their leaves at some point during the year) is once they have entered dormancy, and prior to ground freeze. Dormancy is visibly signaled in autumn by the dropping of a tree’s leaves. Deciduous trees can also be planted in the spring once temperatures become milder, before the unfurling of buds indicates that the dormant period is ending.

There is a bit more leeway when planting trees which are evergreen (those which retain most of their leaves or needles throughout the year). Evergreen trees can be planted earlier in the fall and later in the spring than deciduous trees; but avoid planting them when the temperatures are summer-like.

Where to plant for maximum impact:

• Plant deciduous trees on the west side of your home. That way they will provide cooling shade in the summer and allow warming sunlight to pass through them in the winter, after they have lost their leaves.

• Plant evergreens on the north side of your home to block cold and icy winds in the winter.

• Consider the full-grown size, width, and shape of the tree when selecting a placement for it.

• Do not plant below power lines or too close to your home’s foundation. Falling trees and branches can cause power outages and roots can damage a foundation or block sewer lines—thus potentially lowering a home’s appraised value.

Which trees to plant (and which to avoid)

The USDA has identified several plant hardiness zones within the United States, based on average annual winter temperatures. Richmond is in zone 7. When purchasing a tree to plant, be sure to first find out whether the species is hardy to your home’s growing zone. Trees which are deemed hardy to your growing zone have the best chances for survival.

10 Species to Avoid:

Keep in mind that although a particular tree species may be hardy to growing zone 7, that doesn’t mean it is necessarily the best choice for adding value to a home. Here is a list of species which homeowners are advised against planting.

1. Silver Maple Acer saccharinum

• Speed of growth makes wood weak and brittle, easily breaking during severe storms• Shallow root system invades sewage pipes and drain fields, and cracks pavement

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2. AshFraxinus• Threatened by the emerald ash borer, a tiny beetle that is eliminating the species—not promising to the long-term future of this tree

3. Quaking AspenPopulus tremuloides• Its root system constantly attempts to replicate, sprouting dozens of new trees, and it is very difficult to eradicate once established.

4. Hybrid PoplarPopulus• Very susceptible to diseases and probably won’t last more than 15 years

5. WillowSalix• Aggressive, water-hungry root system threatens drain fields, sewer lines, and irrigation pipes • Wood is weak and prone to cracking

6. Bradford PearPyrus calleryana• Highly prone to splitting and cracking when it reaches maturity• Blossoms have a somewhat offensive odor

7. Black WalnutJuglans nigra• Secretes growth-inhibiting toxins that kill nearby plants

8. GingkoGingko biloba• Strong, offensive odor• Leaves are difficult to rake and stick to people and objects

9. Sweet GumLiquidambar• Surface roots crack sidewalks and the spiny fruit must be raked throughout the year• Round seed pods are covered in sharp spikes which can be uncomfortable where people and pets walk

10. Lombardy PoplarPopulus nigra• Relatively short life expectancy• Structurally weak branches break easily when stressed by wind, snow, or ice• Leaves and branches shed readily• Roots can invade sidewalks and damage sewer lines

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10 Species to Plant in Zone 7:1. Crape Myrtle LagerstroemiaAvg Height: 15-25ft Avg Spread: 6-15ft• Survive drought and deer well • Bloom in summer when most other blooms are gone, and generally have a long blooming season

2. Sugar MapleAcer saccharumAvg Height: 60-75ft Avg Spread: 40-50ft • Thrives in wide ranges of temperature and soil • Attractive fall foliage

*Tip: Don’t plant close to roads—salt used to melt ice can harm the tree.

3. MagnoliaMagnoliaceae grandifloraAvg Height—Southern: 60-80ft Avg Spread—Southern: 30-50ft Avg Height—’Little Gem’: 15-20ft Avg Spread—’Little Gem’: 8-10ft• A rare flowering evergreen • Attractive glossy, dark green leaves • Long blooming season, with fragrant flowers 4. Japanese Flowering Cherry (Yoshino Cherry)Prunus x yedoensisAvg Height: 40-50ft Avg Spread: 25-40ft • Tolerant of various soils • Delicate shape and beautiful white and pink blossoms in the spring

5. HawthornCrataegus crus-galliAvg Height: 25ft Avg Spread: 30ft• Sprays of white flowers in early summer •Pollinators like bees and butterflies love the blooms • Attracts wildlife with small red fruits in late summer and fall • Orange-red autumn color

6. Eastern Red CedarJuniperus virginiana Avg Height: 40-50ft Avg Spread: 8-20ft• Thrives in various soil types • Good windbreak or screen • Attracts birds

7. Black TupeloNyssa sylvaticaAvg Height: 30-50ft Avg Spread: 20-30ft • Spectacular fall foliage • Fruit attracts wildlife • Unique bark

8. Flowering Dogwood Cornus floridaAvg Height: 15-30ft Avg Spread: 15-20ft• Virginia state tree • Attractive white flowers or pink flowers with white accents • Fall foliage • Attracts wildlife

9. Eastern RedbudCercis CanadensisAvg Height: 20-30ft Avg Spread: 25-35ft • Spectacular rosy pink blossoms in spring • Colorful foliage, changing year-round 10. Thundercloud Purple Leaf PlumPrunus cerasifera Avg Height: 15-25ft Avg Spread: 15-25ft• Stands out in the landscape through summer, with its purple leaves • Dense canopy provides good shade

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Central Virginia REALTORS®

Help Clear the Clutter for a Cause

Each year, the Central Virginia Certified Residential Specialist (CRS) Chapter, (a non-profit organization recognizing REALTORS® for their professional accomplishments in both experience and education), selects a local charity to support.

This year, CRS has teamed up with PODS to hold furniture drives for the CARITAS Furniture Bank through the end of October. CARITAS is a local charity that works with homeless individuals and families by providing programs that help them transition into permanent housing. The Caritas Furniture Bank addresses the large need for furniture and household items as participants in these programs move into housing.

“The CRS Chapter and PODS have teamed up to provide PODS at three different locations, where REALTORS® and/or their clients can donate furniture, mattresses, or other household items,” said Blake Eudailey, current Chapter President. “We are proud and excited to be able to work with and support the CARITAS Furniture Bank.”

CARITAS also offers the option of arranging a home pickup of items for a fee, (averaging $30-$40 in the Richmond metro area), based on the items donated and distance traveled. A precise fee is provided when a pickup appointment is booked.

Pickup appointment scheduling:

Please call 804-343-5008PODS Access Details: Please contact Becky Greene Mon-Fri, 9:00a.m.-5:00p.m., at 804-282-7678

All donations are tax-deductible and a gift receipt will be provided at the time of donation.

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