Business worries some Chesapeake residents

Published 10:29 am Thursday, August 18, 2016

Perhaps no other type of property today has risen in value and demand more than waterfront property. As research has indicated, waterfront home values are generally twice as high as overall nonwaterfront home values in the same area.

Waterfront properties are both relatively scarce and highly sought after, and that high demand and limited supply leads to higher home prices.

The village of Chesapeake has a tremendous asset in its riverfront property. Unlike many other properties of Lawrence County that border the Ohio River, most areas of the village are well out of flooding with no flood damage during the 1937 flood of record.

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A simple elevation certificate can ensure the financial institutions that the home is well out of the floodplain so that flood insurance is not required.

Chesapeake riverfront property is not blocked by floodwalls or barges along the banks, rather it has an unencumbered view of the river which permits residents to enjoy the Huntington fireworks and boat races. Additionally, the properties are large enough to allow for a buffer between the house and water in the event of erosion.

Chesapeake offers its residents elevated riverfront property with a minimal chance of flooding, a park, drug and grocery stores, doctors, restaurants, police, churches, sidewalks for strolling, bridge to Huntington and all in a close knit small community.

Although not within the village corporation limit, all Chesapeake schools are about 1.5 miles from the village. Everything within walking, bicycle or golf cart distance.

The biggest investment that Chesapeake residents, or nearly all homeowners anywhere, make in their lifetime is usually a home, and they expect with care and maintenance that the home’s value remains at or above the purchase price.

When an external entity diminishes the home values of an entire neighborhood or community, it becomes apparent that the needs of the many out weight the needs of the few. As noted in several articles by The Tribune, the mayor and residents of Chesapeake have real concerns about their property values due to one controversial business and how those diminished values will change the characteristics of their community.


Jo Huff