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Radford sees over $14 million in investments for 2019-2020 fiscal year

Published: Jul. 7, 2020 at 10:08 PM EDT
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RADFORD, Va. (WDBJ) - Radford has seen a huge spike in investments over the past fiscal year, even during the pandemic. The city has seen over $14 million in investments for building permits, some of the highest numbers it has seen in the last five years.

“Even during this pandemic, we are still moving forward,” said Economic Development Director Kim Repass, standing in front of the city’s new Food City. “It couldn’t have come at a better time for us for the citizens to come out and enjoy this huge new grocery store that we have here in the city,” Repass said.

The grocery chain had its grand opening last Wednesday. The store isn’t the only thing coming to this property. Owners have land all around the site and even across the road that will turn into restaurants and other businesses.

“It takes private investors betting on the future of community and that’s exactly what’s happening here in Radford,” said Mayor David Horton. “We feel like a lot of the activity that we have been doing has helped move that along. We’re so thankful for the private investors, because everyone knows government can’t create that kind of investment by itself.”

Even during the pandemic, the city saw $747,801 for March, $1,198,008 for April and $1,073,117 in May with 285 permits for the year. This includes construction, renovation and improvements of existing spaces like Triangle Park, McHarg Elementary renovations and the soon-to-be new visitors center.

“We’re so appreciative that people have continued to invest even during the months of the pandemic where we thought it might fall off completely, we’ve seen continued growth and continued positive investment,” Horton said. “Now is the time for folks to get in while they still can and make a huge difference for themselves and this community.”

The city has also seen a spike in permits for new, single-family homes, the highest since 2005. There are 32 new homes including seven townhomes catering to young professionals.

Groundbreaking on some of these homes is expected to happen later this year.

“It’s been difficult during these times, but Radford continues to increase its value, increase its growth and we’re very excited about that,” Repass said.

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