BUSINESS ACTIVITY
Hyperion Espresso next week will start a renovation project that will better utilize the two spaces at the Downtown Fredericksburg coffee shop. Hyperion owner Jack Scholl said the renovation will occur in two phases. The first phase will focus on the upper level of the shop and lead to a new bar featuring coffee tasting flights, new seating and paint. “This will allow Fredericksburg to explore coffee at a deeper level and discover what type of coffee he or she most enjoys,” Scholl said in an email. The upper level will be closed during this phase, and the lower level will stay open. During the second phase, the lower level of the shop will close for a renovation, and Hyperion will be operated out of the upper level with a more-limited assortment of options than usual. An entrance will be constructed to link the two sides, and some changes will be made to the lower level, but Scholl said that level will remain much as it is today. Scholl will be the guest on next week’s edition of the Biz Beat Banter podcast.- Strength-training gym Battlefield Barbell Club has opened at 624 Wolfe St. in Fredericksburg.
- Happy Fur Day Dog Grooming has opened at 303 Fauquier St. in Fredericksburg.
- AquaPulse IV is coming to the first floor of the newly renovated building at 520 William St. in Downtown Fredericksburg. Coldwell Banker Elite has moved into its new space on the first floor of the building.
- Just Glow Aesthetics plans to open a downtown Fredericksburg location at 415 William St. in April. Spaces Design Studio had been in that space and recently moved to 631 Prince Edward St. downtown. Just Glow Aesthetics is owned by Jasmine Garcia.
- The Francesca’s store at the Spotsylvania Towne Centre will close. A closing sale is now under way for the women’s specialty retailer, which is closing all its stores nationwide after entering into bankruptcy.
MOVERS & SHAKERS
- Al Fagan, president and CEO of The Oberle Academy in Fredericksburg, is the subject of this week’s edition of the Biz Beat Banter podcast.
- Graze Craze, a new charcuterie-oriented business in Central Park, is the subject of this week’s Biz Beat Clips video.
- Local resident Brett Bearce has started an Apple app called Jobodex that helps job-seekers find employment opportunities from any website or app, track progress and stay organized.
- Fredericksburg Regional Transit (FXBGO!) has been awarded a $20,000 grant from the Joe and Mary Wilson Community Benefit Fund of Mary Washington Hospital Foundation and $10,000 from the Stafford Hospital Community Benefit Fund. The grants will allow the agency to continue to provide transit service in the Fredericksburg region that will facilitate access to healthcare through public transportation.
- Iyana Umstead has joined The Community Foundation as executive admin, donor relations.
- The Fredericksburg Department of Economic Development & Tourism is inviting Fredericksburg businesses to participate in a business vitality survey through March 19. The responses will help the department better understand opportunities and challenges facing the business community.
REAL ESTATE REVIEW
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This Sawhill Boulevard home in Spotsylvania sold last week for about $1.3 million, topping the list of weekly area home sales. See the rest of the list using the link in the first bullet point of this section, and check back weekly for the new list.
There were 87 homes sold in the past two weeks in the Fredericksburg area, including two for more than $1 million, according to the Fredericksburg Area Association of Realtors’ (FAAR) weekly sales list. Check back weekly for the new list.
- A public hearing is scheduled at 6 p.m. March 25 in front of the Stafford Planning Commission regarding the proposed Buc-ee’s project near the intersection of Interstate 95 and Courthouse Road in Stafford. Buc-ee’s travel centers are larger than most other convenience stores, and the Stafford proposal calls for a 74,000-square-foot building with 120 gas pumps and 833 parking spaces (including 24 Tesla charging stations) on more than 36 acres.
- The 356 homes that sold in February in the Fredericksburg region had a median sales price of $479,995, up 4 percent year-over-year, according to FAAR data released this week. Homes spent an average of 49 days on the market before going to contract, and there was about a two-month supply of inventory on the market at the end of the month. The City of Fredericksburg had the highest median price at $552,495, followed by Stafford ($510,000), King George ($489,900), Spotsylvania ($474,500), Orange ($418,580), Colonial Beach ($326,350) and Caroline ($315,000).
- FAAR Director Selina Bryant commented: “The market this year kicked off hot. Many buyers rushed to the housing market to get ahead of a more competitive spring and summer market. The month of February seemed busier than the last couple of years due to inventory increases but also new grant availability from Virginia Housing. Buyers are beginning to accept that interest rates may not improve significantly in the near term. As a result, many are choosing to move forward now to get ahead of rising home prices and the possibility of fewer seller concessions once the market reaches its peak season and shifts back toward a more seller-friendly environment.”
- Here are locality-by-locality housing data from February:
Biz Beat Roundup runs every Wednesday and includes a roundup of business news from around the Fredericksburg region. Send submissions to: bill.freehling@fredericksburgfreepress.com
