As another fatality of the stretched recession, developer Bill DuVal’s approximately 31-acre property at 1265 Second Branch Rd. will be auctioned at the courthouse steps at 10 a.m. on April 11. With $11.2 million in debt and $3.2 in assets, he filed bankruptcy about two-and-a-half years ago.
DuVal had ties to Hank Wilton, who had a number of projects planned or underway in Chesterfield. Centralia Station went on the auction block when Wilton took bankruptcy about the same time as DuVal. Another Wilton project, Iron Mill, a townhome development in Chester has come to a virtual standstill, although ownership of the property is still listed as Wilton Family investments LLC on county records.
DuVal made news when he announced in 2007 that he would develop about 108 acres on the river at the end of Marina Drive, east of Bensley. To be called Riverwalk on the James, DuVal planned to build a marina, hotel, restaurant and residences along the James River.
Homebuilder HHHunt was tapped to build the residential section of the development. A walking trail is now planned to access the river at the site of the proposed project.
According to BizSense.com, “The primary asset left in DuVal’s bankruptcy estate is a large piece of land in Belize, Terry said. DuVal owns an interest in the land, which had at one time been slated for development. The land is being marketed for sale.”