CHRISTIANSBURG, Va. (WDBJ7) --
The Christiansburg Town Council unanimously approved a $1.3 million agreement to improve surrounding areas of the soon-to-be renovated Marketplace.
They agreed upon fixing the entrances, public stormwater infrastructure and the sidewalks through this project.
The renovations of the Marketplace, and some of the public access areas, will be done by KR Christiansburg LLC.
According to the release, it is their hope to have this property closed by the Spring 2018, with the goal to begin construction this summer.
Officials say the construction is estimated to take up to 30 months.
“We are so pleased to work with such a creative and professional staff,” said KR Christiansburg’s Representative Josh Rector. “We look forward to bringing this property back to life and expect to have at
least a 65 percent occupancy rate by next year, up from 10 percent today.”
KR Christiansburg say they plan to invest $30 million into the renovation of the Marketplace.
You can find the exhibit plans under the 'related documents' section on the top right of this page.
We're learning more information about redevelopment of a shopping center in Christiansburg.
Earlier this week we told you town council approved plans for a new entrance and updates to the Christiansburg Market Place.
It's nearly empty now but it won't be that way for long.
Empty windows, locked doors and silence aren't what shoppers like to see before the holidays. It's a reality at the Christiansburg Marketplace where only five businesses fill the dozens of store fronts available. The shopping center sits in the middle of the town's shopping district and town leaders want change.
"I'd say it is closer to being occupied in some shape or form than it has been in the last 10 year," said Mike Barber, the mayor of Christiansburg.
People with knowledge of this project tell WDBJ7 several new stores are coming into this shopping center. What those stores are and when they'll open hasn't yet been confirmed.
"Will they all be big box stores? I don't think so. I think that you, you'll see if and when it happens you'll see a mixture of small and larger and medium businesses over there," Barber said.
The mayor won't say much about any of the incoming occupants, and calls to the shopping center weren't returned. We do know town council approved a 1.3 million dollar upgrade that includes sidewalks, new storm water ponds, and a new entrance into the shopping center.
An Arby's sits where that proposed entrance will be built.
A representative from Grant Avenue Development, the company that owns the restaurant, tells us a new updated building will go about 120 feet away from the current location to make room for the new entrance.
The work is improving access into the property and making the area more enticing to prospective businesses. Though no store names are being shared, the mayor will say he's anticipating jobs.
"I see the possibilities of three to 500 jobs being created which helps the local economy which helps employment levels and the whole nine yards. It's an exciting time assuming that all of the steps fall into place," Barber said.