IDA taps developer on Western State project
Staunton Gateway Partners to work with city
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The Staunton Industrial Development Authority took the next step toward the future redevelopment of the Western State Hospital property by designating a preferred developer for the property and authorizing the company to undertake preliminary development activities.
In preparation to acquire and redevelop the property, Staunton Gateway Partners will complete a master development plan and a stormwater management plan for the property and begin marketing the site to potential business tenants. SG Partners was chosen as the preferred developer from among companies that responded to a solicitation by the Authority in May 2009.
“After more than four years of hard work to acquire the property, we are pleased to begin moving forward with planning for the future redevelopment of this strategically located site,” said IDA Chairman Joe Leigh.
Under an agreement negotiated with the Virginia Department of Behavioral Health and Developmental Services, the Authority expects to transfer this month ownership of 66 acres of property on National Avenue to DBHDS for construction of the new Western State Hospital. In return, DBHDS will transfer 278 acres of the existing Western State Hospital campus to the Authority for private redevelopment.
“The groundbreaking for the new hospital on Dec. 1st by Gov. Tim Kaine and DBHDS officials took our vision for redevelopment of the existing hospital campus from a dream to a reality,” according to Authority member Alice DeWitt. “It’s a win for everybody. The state gets a great site for the new hospital and Staunton gets the existing hospital campus with access to I-81 and U.S. Highway 250 for private development.
The companies that joined together to form SG Partners have the experience to plan, market and develop large business properties. After completing the pre-development activities by June 15, 2010, the agreement will allow 60 days for SG Partners to submit a proposal to acquire and develop the property.