Aproposal from LCD Acquisitions to construct The Mark, a seven-story apartment building along the railroad tracks in Fifeville, can proceed under the city’s affordable housing fund rules, which allow the firm to pay less money into the fund.
Charlottesville’s zoning code, adopted in December 2023, says projects designated as student housing are not required to build affordable units on site. Instead, they must pay a fee into the city’s housing fund, but at a lower rate from those outside the half mile.
“The … [zoning code] states that in order for a project to be student housing, bedrooms must be leased individually and the project must be within one half mile of the University of Virginia campus,” said Genevieve Keller, the chair of the Board of Zoning Appeals, at a March 19 public hearing…