A family farm in downtown Blacksburg?

Yes.

Jim Cowan -- the oft-quoted attorney for Fairmount Properties of Ohio and the First & Main project on South Main Street -- has confirmed that he and his wife, Heather, plan to purchase 32 acres off Graves Avenue known as the Hoge property and convert it to a family horse farm.

The property sits just a short walk from the downtown commercial district and adjacent to the Fiddler's Green subdivision under construction.

Heather Cowan already owns horses but hopes to add at least a couple more to the family stable, her husband said. She also plans to create a migratory bird habitat at a pond under construction on the property. A barn they plan to build will be constructed of "green" building materials, such as earth-friendly bricks made in Floyd.

"But 90 percent of it will remain pasture," Jim Cowan said.

Under a conservation easement put on the land in 1991 by former owner Katherine Hoge, the property can be used for agricultural pursuits. Low-impact logging is also allowed.

Other development can include construction of ponds or lakes, a farm building no bigger than 10,000 square feet and no taller than two stories, private roads to reach existing buildings and the installation of underground utilities.

The Cowans plan to build a 2,500-square-foot barn to accommodate up to six horses and equipment.

"It will not be a commercial operation," Cowan said.

Under state code, no more than 15 horses may be boarded on the property, Blacksburg Zoning Administrator Andrew Warren said.

The easement does not open the property for public use such as trails, Warren said.

Blacksburg Town Council is the conservator of the land and is responsible for enforcement of the easement. The Cowans have been working with town planning officials on the design of the pond and other features.

The property is assessed for tax purposes at $47,700, according to town records. Assessments for property put under conservation easements are generally low, as federal, state and even local tax breaks are a major incentive for restricting development and preserving farm land.

In fact, most conservation easements in effect across the state not only allow but also explicitly encourage landowners to continue farming and harvesting timber on their land, said New River Land Trust director Elizabeth Obenshain.

In many cases, that's the only way owners can afford to keep their property, Obenshain said.