Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, August 19, 1993 TAG: 9308190253
SECTION: VIRGINIA PAGE: A1 EDITION: NEW RIVER VALLEY
SOURCE: MICHAEL STOWE STAFF WRITER
DATELINE: BLACKSBURG LENGTH: Medium
Chisholm and his partners formed Brantner Land Trust and paid $500,000 for the two-thirds of an acre between Turner and Barger streets - about two blocks from Tech's Drill Field.
The purchase sets the stage for a possible zoning battle between Chisholm, who's talked about building a graduate-student dorm on the site, and Tech, which has an engineering building penciled in there on the university's master plan.
Both parties, however, were hesitant to talk about their plans for the pricey parcel on Wednesday.
"It's fair to say that the university has long-range interest in that property, but we have no immediate plans," said Larry Hincker, director of university relations. "It's their property now and I guess they have to decide what to with it."
The new owners, however, might not be able to do much without Tech's approval.
Because the land is surrounded by Tech property, town planners in the mid-1970s put it in the university zoning district, which basically means nothing can be built without Tech's approval.
The decision to grant a building permit will have to be made by Blacksburg's Planning Department after "consultation of the administration" of Virginia Tech, according to the town's building code.
Chisholm wouldn't reveal his partners' names, but said fewer than 10 investors were involved in the deal.
The normally outspoken Chisholm was low-key Wednesday and said the group has no definite plans for the property.
"We haven't decided yet what we are going to do with it," he said. "We're keeping our options open and we're in no big hurry."
When he purchased an option on the land last fall, Chisholm began engineering and architectural plans for a graduate-student housing complex with 400 single rooms.
That's still a possibility, he said, but the group also is considering other alternatives, like building a parking lot or selling the land to Tech.
The land and three small wooden houses that sit on it were purchased from Irene Heavener and her two sisters, who have watched Tech buy house after house in what used to be a small neighborhood.
After 40 years, the family decided early last year it was time to move away from the hustle and bustle of college life.
University officials never pressured the three sisters to move, but figured they would buy the property when it went on the market.
After negotiating with Tech, however, the family turned down what it believed was an extremely low offer and began negotiating with Chisholm.
For nearly a year, Heavener; her sisters Ella Hughes and Louise Allen; and her son James have waited as Chisholm worked to secure financing on the property.
James Heavener said he's relieved that Chisholm teamed up with the Charlottesville investors and finally closed the deal, but didn't comment further because the family doesn't want publicity.
The Brantner Land Trust officially took control of the property Monday, but Chisholm said a deal was worked out to let the Heavener family stay until they move to a new home.
Chisholm said he feels "very comfortable" negotiating with Tech and feels confident the two parties eventually will strike a deal.
In the meantime, he said, the partners may lease the three houses for student housing or office space.
Hincker said Tech's not in any hurry and will simply wait for the new property owners to make their next move.
"Obviously we had wanted to acquire the property or we never would have put it on the master plan," he said.
by CNB