Sylvia R. Glass

speaker

8,754 appearances 98 recordings 8 series first heard Sep 2023 last heard 5d ago

Sylvia R. Glass’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 23 in all, peaking in Dec 2025 with 5.

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Prince William County Board of Supervisors · Board of County Supervisors Meeting - Work Session - Dec 09, 2025 · 9 Dec 2025 meeting

There's a lot of costs associated with that.

They have to, a developer actually has to take that into consideration.

And because you're going into an existing neighborhood,

you have more opportunities for that community engagement, and so you have to really, that developer has to spend a lot of time really engaging with the communities to make sure that they're proposing the right type of project.

So it takes longer.

The other piece is the taxes.

As soon as a property gets rezoned, that project then gets taxed at that higher category, but it still may take years

before you can actually get that project out of the ground.

And then when you look at a pro forma, especially if it's something like office or housing, it takes three, four years once the project has opened for them to actually start to break even.

So you may be three, four years into entitlements, couple years into construction, another three years into absorption.

So you've got 10 years into this project that you aren't making a cent.

and you're paying carrying costs on this land and the construction.

That's a huge barrier, and so that's one of the pieces.

The other challenge is that in our redevelopment areas, a lot of that land is zone being one, which is primarily office, retail, commercial kind of.

And there's limited demand.

There's not that singular retail unless they're fast food, right?

Which is not what I think any of us are really envisioning.

We want to see bigger projects that are combined that create a sense of place.

And so one of the things is that zoning maybe does not really help in encouraging the type of redevelopment that we're looking for.

And then back to just financing.

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