Approximately 19 acres of publicly held land at Staunton Crossing along U.S. Route 250 are slated for commercial and retail development. Working with Staunton’s Economic Development Authority, the land is under contract by Staunton Crossing Partners LLC.
Staunton City Council announced in a press release Thursday night that an agreement between the EDA and Staunton Crossing Partners LLC sets the purchase price at $1.25 million. The developer intends to locate a mix of retail and commercial businesses on the site, utilizing its proximity to the intersections of Interstates 81 and 64 and U.S. Route 250.
The EDA projects that when the 19 acres are fully developed, revenues to the City will exceed $900,000 annually. Mayor Carolyn Dull expressed Council’s overall confidence in the developer and the positive impact the new development will have on the City and its citizens.
“An improved economic environment and increased interest in the property has yielded a tremendous opportunity today,” Dull said. “The developer has extensive experience in projects of this sort, and we believe they are uniquely qualified to jumpstart this new development.”
Robert Baldygo, chairman of the EDA, said: “We’re pleased to be moving forward with confidence in the abilities of Staunton Crossing Partners, LLC. They have a proven track record on other projects in the City, and our interactions with them have been very positive.”
Since acquiring the 278-acre property, the City has been working on a number of pre-development improvements necessary to move forward with construction on the front of the site. These improvements include the construction of a four-lane entrance boulevard into the site, demolition of the CHIRP building, and acquisition and removal of the Virginia State Police building.
“City staff in all departments have worked diligently to provide Staunton Crossing Partners with the necessary tools to be successful,” said City Manager Steve Owen. “Our economic development team has been working tirelessly to make strides at Staunton Crossing, and this partnership is a momentous breakthrough in their efforts.”
Staunton Crossing Partners, LLC representative Scott Goldenberg said that early site work on the property is expected to begin in the summer of 2016.
“Our goal is to provide the City with an attractive gateway for continued development at Staunton Crossing and to get the best tenants possible,” he said. “We are excited about the opportunity to bring additional tax revenue to the City.”
About Staunton Crossing Staunton Crossing is the 278-acre former site of Western State Hospital (WSH). The City and Staunton’s Economic Development Authority (EDA) entered into an agreement with the Virginia Department of Behavioral Health and Developmental Services and the Virginia Department of General Services to purchase the acreage for redevelopment in 2009. The new WSH was not yet constructed on its new site at the time of the agreement. Once the existing hospital was vacated in October 2013, the City was able to begin tangible preparations at Staunton Crossing for new development.
The property is owned by the EDA and features nearby interstate access to both I-81 and I-64 and a mile of interstate frontage. Long range development plans allow for a wide variety of uses, including retail, hospitality and light industrial.
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