702 University City Boulevard mixed-use proposal
Ascent Property Co. proposed replacing commercial buildings at 702 to 844 University City Boulevard with a six-story building of about 254 apartments over two levels of parking, with ground-floor commercial space and at least 32 affordable units. Town Council denied the rezoning 5-2 on December 9, 2025, after the Planning Commission recommended approval 5-4.
The project
The details.
The request (RZN-25-7) would have rezoned about 4.6 acres from General Commercial to Planned Residential. At the Council hearing staff described 821 bedrooms, 5,000 to 7,500 square feet of commercial space, 30% open space and a parking ratio of 0.57 spaces per bedroom; the applicant committed at least 14% of units to households earning 50% to 80% of area median income for at least 50 years. The Town Comprehensive Plan designates the site Commercial.
- Status
- Denied
- Type
- Mixed use
- Jurisdiction
- Town of Blacksburg
- Homes
- 254 apartments, planned as rentals
- Size
- About 4.6 acres; 6 stories; about 821 bedrooms
- Location
- 702 University City Boulevard, University City Boulevard near Prices Fork Road
- Applicant
- Balzer and Associates, Inc. for Ascent Property Co.
- Case number
- RZN-25-7
- Legislation
- Ordinance 2094
- Last checked
- Oct 13, 2026
Timeline
Where it stands.
Every step on record, oldest first, with a link to the official record where there is one.
-
Neighborhood meeting
-
Planning Commission hearing postponed to November 4
-
Planning Commission public hearing; recommended approval 5-4
-
Town Council work session review
-
Town Council public hearing; rezoning denied 5-2
Location
On the map.
702 University City Boulevard, University City Boulevard near Prices Fork Road. 14 homes are for sale within a mile.
The blue marker is the project. Rings are a half mile and one mile, straight line. Prices are homes for sale now.
Homes for sale nearby
For sale near 702 University City Boulevard mixed-use….
The closest homes for sale, within 1.5 miles.
Nearby
Neighborhoods nearby.
Homes for sale, recent sales and prices in each one. Distances are straight-line from the neighborhood’s center.
-
Tremont Estates
None for sale now
0.2 mi away
-
McBryde Village
2 homes for sale · Median $447K
0.3 mi away
-
University Place
2 under contract · Median $249K
0.3 mi away
-
The Glen
2 under contract · Median $479K (3 yrs)
0.4 mi away
-
Longview Estates
1 home for sale · Median $385K (2 yrs)
0.5 mi away
-
Karr Heights
None for sale now · Median $456K
0.5 mi away
Sources
From the official record.
- Town of Blacksburg: RZN-25-7 702 University City Boulevard PRD rezoning requestOct 13, 2026
- Town Council minutes, Dec 9, 2025Dec 9, 2025
- Town Council work session minutes, Nov 18, 2025Nov 18, 2025
- Planning Commission minutes, Nov 4, 2025Nov 4, 2025
Details can change as a project moves through review. The official record governs. This page was last checked against it on Oct 13, 2026.
Information from Town of Blacksburg public records and other official sources. Check the official record for decisions.
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