Funding will support revitalization of derelict structures into mixed-use developments
Governor Glenn Youngkin announced today $1 million in Mixed Use on Main Street (MUMS) funding for two projects located in the cities of Lynchburg and Martinsville. The projects will transform the former A&P grocery store in Lynchburg and the former Woolworth’s building in Martinsville into commercial and residential spaces.
“Downtowns are the heart and soul of so many communities across the Commonwealth, and through these investments, we will transform derelict structures into vibrant businesses and create new housing opportunities,” said Governor Glenn Youngkin. “Strong infrastructure is key to any successful economic strategy, and this program is designed to keep those downtown districts thriving and catalyze both economic development and community pride.”
MUMS is a new pilot program created as a joint effort with the Industrial Revitalization Fund (IRF) and Virginia Main Street (VMS) programs, both administered through the Virginia Department of Housing and Community Development (DHCD) to support the revitalization of vacant or underutilized downtown spaces to create opportunities for commercial development and housing units in communities that are active participants in VMS. Awards are available up to $500,000 for the rehabilitation of mixed-use buildings that must include the creation or preservation of housing units and can be provided as either grants or loans.
“This unique program allows us to make targeted investments back into our communities, giving them the resources and flexibility needed to generate sustainable economic growth,” said Secretary of Commerce and Trade Caren Merrick. “These two remarkable projects will create 15 new jobs and build 34 new housing units in downtown commercial districts, and I look forward to seeing the continued positive change that this revitalization will enable.”
MUMS funding leverages local and private resources to achieve market-driven redevelopment of structures, creating a catalyst for long-term employment opportunities, on-going physical and economic revitalization and housing units in communities.
“Through MUMS, we are able to make targeted and strategic investments in communities, creating the best possible catalyst for revitalization and growth,” said Director of the Virginia Department of Housing and Community Development, Bryan Horn. “These two projects will leverage $7.1 million in additional public and private investments in the communities.”
For more information on MUMS, visit dhcd.virginia.gov/irf.
2023 MUMS Awardees:
400 12th Street | $500,000
Lynchburg Economic Development Authority | City of Lynchburg
The Lynchburg EDA, through a private developer, will renovate the former A&P Grocery store from a single-story structure into a four-story building for mixed use. The project will create a commercial space on the ground floor with 10,000 square feet of retail space, as well as 28 apartment units. Funding will go towards renovating and remodeling the ground floor for a committed food and beverage operator. The residential space will include studios, one-, two- and three-bedroom units.
16-18 East Church Street | $500,000
City of Martinsville
The city of Martinsville, through a private developer, will renovate the former Woolworth’s building, which was built in the 1920s and has been vacant since 1996. The building is now being renovated to provide additional housing units and retail spaces to the Uptown Martinsville district. The project will include six apartments, as well as 4,000 square feet of retail space and 600 square feet of office space.