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Fiscal cliff, housing comeback were hot topics page 2
Local business stories mirrored efforts to revive economy

 The State Fair of Virginia was saved when the Virginia Farm Bureau Federation and a Tennessee company bought it.
SUZANNE CARR ROSSI/THE FREE LANCE-STAR
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Date published: 12/29/2012

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;">4. Housing shows signs of life: Few would describe the local housing market as robust in 2012, but it clearly improved over the past few years. Median prices and sales rose, and buyers took advantage of good deals and cheap credit to snap up inventories of existing homes. That led to some demand for new homes, particularly in North Stafford, where the large Colonial Forge and Embrey Mill residential developments got under way. A foreclosure auction on much of the Belmont land in Caroline County late in the year served as a reminder of the market's continued challenges, however.

;">5. Walton still bullish on the 'Burg: Arizona-based Walton International Group purchased another roughly 179 acres in Spotsylvania, bringing the company's total land holdings to nearly 1,750 acres in the Fredericksburg area. Walton also submitted a rezoning application for a large new residential community called Heritage Woods just south of Lee's Parke in Spotsylvania. They weren't the only group interested in the area near the Spotsylvania Regional Medical Center. Plans continued to move forward on the Virginia Railway Express station, the Haven apartments were built, an assisted-living center began and a major rezoning application was submitted for land near the VRE station.

;">6. UMW drives economy: The University of Mary Washington and its private foundation continued to do their part to drive the local economy, opening a graduate campus in the growing Dahlgren area of King George County, starting construction on a new Hyatt Place hotel at Eagle Village in Fredericksburg, launching several construction projects on the main campus and participating in the development of the Stafford Technology and Research Center at the booming Quantico Corporate Center.


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