jinxy wrote:In my opinion its quite the contrary. If you wait until your landlocked the price goes up. I think you will see several interesting ideas pop up the next 2 to 3 years. Especially on the kmart property. That cost will only increase as lu continues to expand its epicenter.
Several prominent developers from roanoke blacksburg and richmond have shifted to the lynchburg and danville markets. They are looking primarily at multifamily and apartment housing but also hotels etc. These are some smart folks and ive heard from more than one of them that Lu doing the smart thing by not allowing itself to be boxed in.
JMU is landlocked; Liberty will never be landlocked with their several thousand contiguous acres. They are already building up and over the mountain. I have to wonder who these developers are that you speak of. Jim Daly, the largest hotelier in Lynchburg, has a relationship w/ Jerry, but I don't think he gives a rip about how much land LU buys and he has more to gain of Liberty expands towards LUCOM and the airport rather than across a railyard and expressway. Tony West, the guy who has done more development than anyone else in mid and downtown would probably suggest that LU convert their Campbell Ave warehouse into student lofts. I haven't talked with a single developer who thinks LU makes great real estate investments and I interact with a fair number of them.
Just because Liberty does it, it doesn't mean that it is particularly wise.