Biscuit Run has officially been transferred to the state of Virginia to become a State Park. 

The previously planned residential development is a large piece of property in Albemarle County near Old Lynchburg Road and Route 20.

After much debate, the Albemarle County Board of Supervisors approved plans a few years ago for a 3,000-home development on the property. However, the developers recently changed those plans and decided Wednesday they would rather give the land to Virginia to create a State Park. Making it park land sounds really nice but this property is in the County's future growth area.  Now that its use has changed, the Charlottesville area real estate market will change as well given this land will no longer be used for future housing.  It will be interesting to watch how this will effect new home development in the future.

The Governor's Office is expected to provide additional details on this story Wednesday evening.