SVAR shares po­ten­tial hous­ing-mar­ket im­pact from Army down­siz­ing

The Progress-Index - At Home - - NEWS - Mary Ann White

PETERS­BURG —South­side Vir­ginia As­so­ci­a­tion of REAL­TORS® Leg­isla­tive Af­fairs Com­mit­tee chair­man Mary Ann White ad­dressed a full house dur­ing the com­mu­nitylis­ten­ing ses­sion held Jan. 8 at the Army Lo­gis­tics Univer­sity at Fort Lee. The gath­er­ing was part of a se­ries of Army-spon­sored meet­ings held around the coun­try to as­sess where and how deep a work­force re­duc­tion will im­pact bases na­tion­wide. Most at­ten­dees were key mil­i­tary of­fi­cials from Fort Lee in ad­di­tion to state and lo­cal gov­ern­ment rep­re­sen­ta­tives and mem­bers of lo­cal Cham­bers of Com­merce.

The Army is ex­pected to lose 20,000 troops in 2015’s draw­down, plus an ad­di­tional 40,000 more in 2016 and 2017 and, pos­si­bly, another 10,000 to 20,000 by the end of this decade. White de­liv­ered com­ments on the im­pact that a base work­force re­duc­tion would have on res­i­den­tial real es­tate in the Tri-Ci­ties area, not­ing that in the last sev­eral years the lo­cal mar­ket has seen steady im­prove­ment. A re­duc­tion in work­force will most likely re­verse that trend, the RE­AL­TOR® said.

White also posed sev­eral ques­tions to the Army rep­re­sen­ta­tives, in­clud­ing what plans and op­por­tu­ni­ties the base has – upon down­siz­ing – for fa­cil­i­ties re­use that may help to re­place jobs and in­crease hous­ing op­por­tu­ni­ties through pri­va­ti­za­tion of base as­sets. Other SVAR at­ten­dees were RE­AL­TOR® Ken Pritch­ett and SVAR CEO Joe Croce

SVAR en­com­passes Colo­nial Heights, Hopewell, Peters­burg, Ch­ester, Em­po­ria and Ettrick, and Din­wid­die, Greensville, Prince George, Surry and Sus­sex coun­ties and much of Ch­ester­field County. South­side Vir­ginia As­so­ci­a­tion of REAL­TORS® mem­bers also are mem­bers of the 30,000-mem­ber Vir­ginia As­so­ci­a­tion of REAL­TORS® as well as the Na­tional As­so­ci­a­tion of REAL­TORS®.

The term RE­AL­TOR® is a regis­tered col­lec­tive mem­ber­ship mark that iden­ti­fies a real es­tate pro­fes­sional who is an ac­tive mem­ber of the Na­tional As­so­ci­a­tion of REAL­TORS. For more info on SVAR, go to www.SVAReal­

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