A state-of-the-art innovation hub is slated to occupy a historic building in downtown Harrisonburg. Harrisonburg Innovation Hub, or more simply known as HIH, with the support of local investors and partners, closed on the space in late October.
The plan is to renovate the building to provide private offices, coworking, shared resources, rooftop event space, AV production studio and anchor spaces.
The total investment for the project is $4.5 million.
“Our mission is to reduce barriers to innovation for everyone,” said Peter Denbigh, co-founder of the Staunton Innovation Hub. “HIH will help attract more forward-thinking innovators to the region, add fuel to local startups’ fires, serve as a basecamp for existing innovators, and help grow an innovation ecosystem whose sum is greater than its parts. It’s incredible what happens when the right people coalesce in the right space with the right culture.”
The location of the Wetsel Seed building will be convenient not only for startups, solopreneurs, established institutions, and cottage industry businesses but also for the area’s colleges and universities.
At more than 26,000 square feet, the building will house up to 60 private offices, multiple shared conference rooms, an AV room for members to produce their own podcasts, a rooftop deck for events and a variety of co-working spaces.
The project has been planned in partnership with local investors including Pendleton Community Bank and Eugene Stoltzfus Architects.
In addition to the purchase of the building, the investment includes operational costs and significant renovations. The project has been in development for almost one year, while partners took into account feasibility and sustainability with current market conditions.
“We have landed on a plan that will allow us to build a best-in-class facility and nurture community, while also conscientiously managing costs,” said Denbigh. “I’m thankful for the investors and the bank who believe in and support this vision.”
The Harrisonburg Innovation Hub is expected to be a dynamic addition to our vibrant downtown business district, according to Brian Shull, the economic development director for the City of Harrisonburg.
“The multiple services envisioned for this space perfectly complement the City’s initiatives to attract higher paying jobs and enhance entrepreneurship opportunities. An added bonus is that this project will breathe new life into the historic Wetsel Seed Complex, which is a treasured landmark in downtown Harrisonburg,” Shull said.
Over the course of three years, including the COVID-19 pandemic, Staunton Innovation Hub grew to fill two historic buildings in Downtown Staunton. It fully occupies 30,000 square feet and houses more than 110 businesses, ranging from nonprofits like Shenandoah Community Capital Fund to professional service firms like Hantzmon Wiebel.
“The Staunton Innovation Hub is known for its friendly, impactful, and community-focused approach,” said Denbigh. “We’re excited to bring the learnings and successes of the past three years to this new venture in Harrisonburg to further support the innovative economy in the Shenandoah Valley. It is our goal to make HIH an incredible asset to, and a great neighbor within, the already vibrant Harrisonburg community.”
The Harrisonburg Innovation Hub is expected to open in late 2023.
For more information, visit www.harrisonburghub.com
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Crystal Graham
