Northam announces industrial awards for Vinton, Wytheville
The goal of redevelopment can amount to mixed-use, regardless of what the original building functioned as.
(WDBJ) - Over $1.4 million in Industrial Revitalization Fund (IRF) awards were announced Friday for three towns in Virginia to redevelop “deteriorated” structures and spark long-term employment opportunities. The state is looking to also spur ongoing physical and economic revitalization.
The towns of Vinton and Wytheville are joined by Warsaw as areas with properties that meet the qualifications of being vacant and deteriorated. The goal of redevelopment can amount to mixed-use, regardless of what the original building functioned as.
“This funding will not only help transform deteriorating or unused structures, it will bring purpose and new opportunity to the surrounding communities,” added Northam. “With these three projects, we are making important investments in our future. As we focus on recovering from the impacts of the pandemic, our administration remains focused on driving economic growth to every corner of the Commonwealth, especially in rural Virginia.”
The following projects were awarded:
“Gish Mill Redevelopment Project
Town of Vinton
The Town of Vinton will redevelop the historic Gish Mill into a mixed-use site that includes a restaurant, speakeasy, seasonal market, and lodging rooms. The IRF loan will be used for the rehabilitation and repair of the structure, as well as the demolition and removal of specific components. Vinton purchased the property in 2015 and is in the process of selling it to a local development group, which has private financing from local lending institutions committed for the purchase and renovation. This project is expected to create 37 full- and part-time jobs.
Warsaw Hardware Building Redevelopment Project
Town of Warsaw
The Town of Warsaw will utilize the IRF award for the buildout of a centrally located mixed-use site that will have a brewery space, taproom, upstairs event space, and patio. The Town of Warsaw received a $1 million Community Development Block Grant in 2017, and this project will help continue the locally developed revitalization plan. Matching funds for this project will come from the developer, Old Rappahannock Development Company, with the town contributing $93,000 in economic incentives. The project is expected to create four full-time and five to 10 part-time jobs.
Millwald Theatre Restoration and Economic Revitalization Project
Town of Wytheville
The Town of Wytheville is rehabilitating the Millwald Theatre as a community auditorium for live and film entertainment, as well as a center for performing arts education. The IRF award will be used for demolition and new construction within the existing structure, a new HVAC system, new plumbing, new electrical upgrades, and architecture and engineering fees. The project is expected to create seven full-time and at least seven part-time jobs.”
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