Foundation buys gas station,
In late June, the U.Va. Real Estate Foundation purchased the
0.19-acre lot occupied by a Chevron gas station at the intersection
of Ivy Road and Emmet Street.
plans for the property, which is located at one of the primary
entrances to the Grounds, call for it to be transferred to the
University and returned to green space, said Leonard W. Sandridge,
U.Va.s executive vice president and chief operating officer.
gas station will continue to operate under lease until 2011. The
property, purchased for $297,519, will remain on the city tax
rolls while under lease.
July 2, the foundation sold Maxwell Farm, the seventh former Albemarle
County property of John Kluge to be sold since February, to a
private partnership. The $595,000 sale involved 123 acres of land
with no buildings or other improvements. Like the other buyers,
the new owner plans to continue agricultural use of the property.
proceeds of the sales go toward an endowment to maintain the remaining
properties and to help support future academic programs there,
said Tim R. Rose, the foundations chief executive officer.