The Silver Cos. is planning a commercial development along U.S. 1 near the intersection of Cowan Boulevard in Fredericksburg.
A limited liability company composed of Silver principals Larry Silver, Jud Honaker and Ed Minniear last month purchased about 6.6 acres of commercially zoned land that fronts the west side of U.S. 1 just south of Cowan.
The LLC, called Cowan Crossings, bought the land from Keene Delahay Embrey Duffee. The purchase also included 36 residentially zoned lots on both sides of U.S. 1 in the same area.
Honaker said Cowan Crossings is under contract to buy another roughly five acres right at the southwest corner of Cowan and U.S. 1 from Carter Yates Embrey. When that property is acquired in the next month or two, the Silver entity will own all the commercial frontage on the west side of U.S. 1 between Cowan and the property that is home to the Harris Law Firm at 1619 Jefferson Davis Highway.
A bank plans to develop a branch off U.S. 1 at a stoplight near the middle of the property being acquired, Honaker said. He did not say which bank.
Honaker envisions building offices to the south of the bank branch, and perhaps a restaurant to the north at the corner of Cowan. He said buffers will be added between the commercial development and the homes behind it along Keeneland Road.
Honaker said Cowan Crossings hasn’t figured out what it will do with the residential lots it acquired as part of the deal. He said it was the commercial land along U.S. 1 that enticed him and his partners. Coldwell Banker Commercial Elite will be responsible for leasing & sales at this project.