MARTINSVILLE, Va. – A historic warehouse in Martinsville’s downtown district will be transformed into a mixed-use development featuring restaurants and apartments, backed by a $1 million grant from the Virginia Tobacco Region Revitalization Commission (TRRC).
The Martinsville Economic Development Authority secured the grant for the adaptive reuse of American of Martinsville Plant 10, located at 51 Lester Street. Local partners will match the TRRC funding, bringing total investment in pre-development and stabilization efforts to more than $2 million.
The 98,000-square-foot former furniture factory, which closed in 2010, will become a 100-unit mixed-use development with street-level retail and community amenities.
“It’s a pretty special moment to take one of these iconic and historic buildings that we’ve all grown up around and seen for years and find an adaptive reuse for it,” said Del. Eric Phillips, who chairs the Economic Development Board.
The $2 million funding package comprises:
— $1 million from the Virginia Tobacco Region Revitalization Commission
— $403,325 from the Martinsville EDA for site acquisition
— $450,000 in anticipated support from local partners
— $100,551 from past EPA and Virginia Brownfields Assistance Fund grants
— $80,000 from Virginia DHCD’s Industrial Revitalization Fund Planning Grant
The project aligns with the Economic Development Authority’s vision to add 500 new residential spaces in Uptown Martinsville. Phillips emphasized the city’s need to attract not just workers but residents. “We don’t need them just to work in this area, we need them to live here too,” he said.
Converting the historic structure presents significant challenges, Phillips noted. “One of the things about adaptive reuse buildings like this is they’re expensive because there’s a lot of work that it takes to get the building to where a developer can come in and actually do the development that they want to do.”
Mayor L.C. Jones views the development as a catalyst for community growth. “The more people we have, the more sustainable the city is and the more flexible the city is to provide more amenities that citizens like,” Jones said.
The project could also help address Martinsville’s rising housing costs. “The more availability we can add to the market, the more we should see those prices come down or equal out,” Jones added.