WILLIAMSBURG — Williamsburg City Council unanimously voted at its Thursday, Nov. 10 meeting to award a revenue-sharing incentive to Uptown Alley, a family-friendly entertainment center that plans to open its doors in Williamsburg in 2023.
Offerings will include upscale bowling, duckpin bowling, an arcade, a chef-driven restaurant, and the latest in audio/video technology, the City of Williamsburg said in an official announcement.
According to the City of Williamsburg, the awarded incentive is a performance-based revenue sharing agreement that grants a percentage of the taxes that Uptown Alley will pay to the city over a five-year period.
The incentive is capped at $600,000, the city said, and will be used for exterior improvements to modernize the building.
Williamsburg’s Economic Development Authority (EDA) voted unanimously at its Nov. 9, 2022 meeting to recommend approval of the incentive to the City Council.
“With the current economic challenges, Uptown Alley is truly thankful for the support of Williamsburg, as they have been instrumental in helping us move this project forward,” Uptown Alley Owner Steven Moore said in the announcement. “We are excited to see how our partnership continues to grow.”
The city’s EDA will award the incentive to Uptown Alley over time, after the business pays its local sales and meals taxes, it said, noting the local sales and meals tax return on investment to the city for the first five years of the business’ operations is estimated at more than $1 million.
The Williamsburg location will be the Richmond-based company’s fifth location. Other locations include Chesterfield and Manassas in Virginia, Surprise, Arizona and Changzhou, China.
“As part of our business recruitment efforts, the City continually studies trends to determine what is missing from the Williamsburg market,” Mayor Douglas Pons said. “Uptown Alley fills a need for more indoor entertainment options in the area. The owners are investing more than $12 million in the project, which will include renovations of one of the City’s largest commercial assets. We are pleased to welcome Uptown Alley to the Williamsburg business community.”
For more information on Uptown Alley, visit the company’s official website.