"Coal Tower Project" is Following Economics-Driven Local Trends: Scaling Down, Building Apartments Instead of Townhouses or Single Family Homes

Developers recognize where this market's heaviest future demand is: rentals. The younger generation(s), call them Gen Y or Millennials, are saddled with too much debt for most to buy a home,  and the short-term buyer has vanished from the Charlottesville Area market.  Nationally, the homeownership rate is dropping to a level not seen since the 1990's.  There are no major private sector jobs