The University announced Saturday that it will not place conservation or open space easements on the 7,378-acre property recently donated to the University by billionaire John W. Kluge. The decision was made despite the preference of some members of the Albemarle County Board of Supervisors and community for land use to be restricted once the property is sold.
John P. Ackerly, rector of the University's Board of Visitors, said the decision was made to avoid depressing the value of the property. Placing conservation easements could reduce the value of the $45 million property as much as 50 percent, he said.
"People will pay more if they can develop," he said.
Under the terms of Kluge's donation, the University is required to keep 750 acres for academic use. The remainder of the land, including 10 working farms, will be sold to create an endowment for maintaining and operating the University-maintained 750 acres.
"The University wants to have good community relations, but we are obliged to get as much money as we can," Ackerly said.
Some community members "want a limited scope of development to avoid the traffic, noise and construction that would change the area," said Lee Catlin, Albemarle County community relations manager.
The property currently is protected under zoning laws, which ban the construction of high-density residential or industrial areas, Catlin said.
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