The wisest observers, according to our sources, say that we are not out of the woods on the current banking crisis, noting that banks everywhere are scared and locking down in terms of lending and that these current conditions will not abate for a year or more.
This being said, everybody is trying to assess what this will mean for their budgets and their development plans. The question was broached at Tuesday’s joint meeting of the Falls Church Chamber of Commerce and Merrifield Business Association to the region’s two state lawmakers, Del. Marcus Simon and Sen. Chap Petersen. Both are seeking re-election in reconfigured districts that include the City of Falls Church. Simon having served as the City’s man in the House of Delegates for four terms already, and Petersen, though a veteran of 16 years of elected service in Richmond, now vying in a Democratic primary this spring to represent Falls Church for the first time. Neither professed to have a crystal ball for forecasting the impact of the current crisis for Virginians, other than to note that, unlike North Carolina, for example, banking is not a major industry here.
It can be expected, though, that the $3 million budget surplus the state enjoyed this past year that the governor and Democratic lawmakers have been fighting over how to deploy (the usual options being tax cuts versus education spending), will not be available next year. The fighting will heat up in the context of this fall’s state elections and next year’s big presidential election over efforts by Democrats, now in the minority in the House of Delegates, to deter book banning (Simon says he has a personal lending library in front of his home where controversial books are offered to borrowers), codifying the Roe v. Wade decision in the state constitution and repealing the state’s constitutional amendment outlawing gay marriage, plus whatever gains on gun control can be hoped for in the current Richmond environment.
While the current banking crisis can be expected to put a slammer on new lending for development, for example, the City of Falls Church is now the envy of the entire region for the number of construction cranes now dotting the Little City’s skyline. Three projects are full steam ahead now in this little 2.2 square miles, the funding having already been secured, on top of everything else that’s been built here the last two decades. They are the Hoffman-led massive 10-acre development adjacent the new Meridian High School campus, rising now over the grave of the former George Mason High, the Insight Group’s major work at the intersection of Broad and Washington where a deluxe Whole Foods and new expanded home for our local theater troupe, Creative Cauldron, is set to go, and the Modero, formerly known as Founders Row 2, just getting started.
Falls Church citizens are very fortunate to benefit from the huge revenues generated by these, their funding coming ahead of the current “pause.”
This week, a journalist in Los Angeles was shot with a projectile fired by police while covering a protest—clearly identifiable as press, simply doing their job. It’s the latest in
By Lisa Sinrod Paragon Founders Row, a seven-screen state of the art cinema at the intersection of West Broad and North West Streets in Falls Church, opens June 13. Paragon
By Democracy Falls Church Democracy Falls Church, a group of citizens brought together by deeply felt concerns about the actions and policies of the Trump administration, is sponsoring a community
The Mustangs made history by reaching the State Semifinals for the first time ever, but their journey came to a heartbreaking end. Trailing by three with just 5 minutes remaining,
Legitimate news organizations need grass roots support like never before, and that includes your Falls Church News-Press. For more than 33 years, your News-Press has kept its readers informed and enlightened. We can’t continue without the support of our readers. This means YOU! Please step up in these challenging times to support the news source you are reading right now!
Editorial: F.C. Projects Ahead Of the ‘Pause’
Nicholas F. Benton
The wisest observers, according to our sources, say that we are not out of the woods on the current banking crisis, noting that banks everywhere are scared and locking down in terms of lending and that these current conditions will not abate for a year or more.
This being said, everybody is trying to assess what this will mean for their budgets and their development plans. The question was broached at Tuesday’s joint meeting of the Falls Church Chamber of Commerce and Merrifield Business Association to the region’s two state lawmakers, Del. Marcus Simon and Sen. Chap Petersen. Both are seeking re-election in reconfigured districts that include the City of Falls Church. Simon having served as the City’s man in the House of Delegates for four terms already, and Petersen, though a veteran of 16 years of elected service in Richmond, now vying in a Democratic primary this spring to represent Falls Church for the first time. Neither professed to have a crystal ball for forecasting the impact of the current crisis for Virginians, other than to note that, unlike North Carolina, for example, banking is not a major industry here.
It can be expected, though, that the $3 million budget surplus the state enjoyed this past year that the governor and Democratic lawmakers have been fighting over how to deploy (the usual options being tax cuts versus education spending), will not be available next year. The fighting will heat up in the context of this fall’s state elections and next year’s big presidential election over efforts by Democrats, now in the minority in the House of Delegates, to deter book banning (Simon says he has a personal lending library in front of his home where controversial books are offered to borrowers), codifying the Roe v. Wade decision in the state constitution and repealing the state’s constitutional amendment outlawing gay marriage, plus whatever gains on gun control can be hoped for in the current Richmond environment.
While the current banking crisis can be expected to put a slammer on new lending for development, for example, the City of Falls Church is now the envy of the entire region for the number of construction cranes now dotting the Little City’s skyline. Three projects are full steam ahead now in this little 2.2 square miles, the funding having already been secured, on top of everything else that’s been built here the last two decades. They are the Hoffman-led massive 10-acre development adjacent the new Meridian High School campus, rising now over the grave of the former George Mason High, the Insight Group’s major work at the intersection of Broad and Washington where a deluxe Whole Foods and new expanded home for our local theater troupe, Creative Cauldron, is set to go, and the Modero, formerly known as Founders Row 2, just getting started.
Falls Church citizens are very fortunate to benefit from the huge revenues generated by these, their funding coming ahead of the current “pause.”
Recent News
We Must Stand Up for the Free Press—Now More Than Ever
This week, a journalist in Los Angeles was shot with a projectile fired by police while covering a protest—clearly identifiable
The Little City’s Movie Theater Is Finally Here, Opening June 13
By Lisa Sinrod Paragon Founders Row, a seven-screen state of the art cinema at the intersection of West Broad and
Falls Church Citizens to Hold ‘No Kings’ Protest June 14
By Democracy Falls Church Democracy Falls Church, a group of citizens brought together by deeply felt concerns about the actions
Meridian Boys Lax Falls in Overtime After Dramatic Comeback
The Mustangs made history by reaching the State Semifinals for the first time ever, but their journey came to a
Sears-Backed PAC Took Donations from Nazi Reenactor Who Praised Hitler’s Military
VIRGINIA – New reporting from Forward reveals that former Lt. Gov. Winsome Earle-Sears received campaign donations from Richard Iott, a
Meridian Boys Soccer Survives Tabb, Advances to State Semifinals
The run to a State championship began on Monday night for the Meridian High School boys’ soccer team, after beating
Stories that may interest you
We Must Stand Up for the Free Press—Now More Than Ever
This week, a journalist in Los Angeles was shot with a projectile fired by police while covering a protest—clearly identifiable as press, simply doing their job. It’s the latest in
The Little City’s Movie Theater Is Finally Here, Opening June 13
By Lisa Sinrod Paragon Founders Row, a seven-screen state of the art cinema at the intersection of West Broad and North West Streets in Falls Church, opens June 13. Paragon
Falls Church Citizens to Hold ‘No Kings’ Protest June 14
By Democracy Falls Church Democracy Falls Church, a group of citizens brought together by deeply felt concerns about the actions and policies of the Trump administration, is sponsoring a community
Meridian Boys Lax Falls in Overtime After Dramatic Comeback
The Mustangs made history by reaching the State Semifinals for the first time ever, but their journey came to a heartbreaking end. Trailing by three with just 5 minutes remaining,