City Council is scheduled to vote on a major redevelopment project Thursday, and officials who are tasked with developing the Williamsburg economy believe the project can be an economic driver for the community.
Midtown Row is a proposed mixed-used community and developer Broad Street Realty is seeking permission from council to develop on the site of the Williamsburg Shopping Center on Monticello Avenue.
If approved, Midtown Row will feature four five-story buildings, each housing four floors of residential apartments above ground-floor businesses such as retail and restaurants. The buildings that contain Sal’s by Victor and Food Lion will remain, while some of the businesses will change. Midtown will also include a public plaza and is designed to be pedestrian-friendly.
The Williamsburg Shopping Center is currently largely vacant, and Broad Street plans to remove approximately 100,000 square feet of retail space. City Economic Development Director Michele DeWitt said the retail offerings on the redeveloped property are likely to generate more sales — and more sales tax to bolster the city’s funds.
“Even though we’re reducing the retail [space] it should be more productive in terms of contributing to the city’s economy,” DeWitt said.
She said this would be made possible by the addition of the more than 200 on-site apartments, whose residents would support the businesses on the first floor. Additionally, DeWitt said the creation of a city hub — with a public plaza for outdoor dining and activities — at the junction of vehicle and pedestrian arteries will become a draw for residents and tourists alike.
“How do we remain relevant to ourselves and to our children in the future? We want a place where people will spend their time and treasure, and this helps us do that,” DeWitt said.
The development of Midtown, the area around the intersection of Richmond Road and Lafayette Street/Monticello Avenue, has long been a focus for city officials, and was included among the city’s goals in November 2016.
Specifically, the city’s biennial Goals, Initiatives and Outcomes call for city staff to pursue the development of Midtown into a shopping and entertainment hub, with a focus on the rejuvenation of the Williamsburg Shopping Center through partnerships with the property owners.
Broad Street purchased the shopping center in January and also has the Monticello Shopping Center, located across the street, under contract.
CEO Michael Jacoby said Broad Street hopes to create “a sense of place” in Midtown Row, where people will want to live, dine, shop and visit.
“I think we could not have hoped for a more convergent use — a developer who more lines their vision up with the city’s vision,” said Wiliamsburg Economic Development Authority Chair Adam Steely. “We’ve been looking for a long, long time hoping for someone to come along and share that vision…They [Broad Street] are delivering exactly what our research told us we need.”
Research conducted by Ted Figura Consulting states the proposal would have a “very positive” financial impact on the city’s finances, according to city documents. Cumulative cash flow from the property over 10 years is projected to be between roughly $5.3 and $6.4 million more in tax revenue than what would be generated in the property’s current state.
While some residents expressed dissatisfaction or concern over the proposal at the city’s September Planning Commission public hearing and through meeting e-comments, officials say the proposal fits the city’s long-term vision and economic needs.
“I think the City Council and city staff have done their work for years and years and years in realizing what it is that is the best opportunity for the city to be economically successful,” Steely said.
“They’re following their game plan and they’re sticking to it.”
