City of Radford approves future purchase option of 80-acre site

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Published: Nov. 1, 2022 at 9:32 PM EDT
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RADFORD, Va. (WDBJ) - A 6-month option agreement with Virginia Castings, LLC, a Michigan limited liability company, was approved by the City of Radford for the future purchase of an 80-acre site.

The city says this agreement will allow for updated and additional environmental research on the Foundry site. At the end of the option, the city can choose to purchase the lot.

The Foundry has been a major piece of Radford’s industrial base since 1880 as the Radford Iron and Coal Company, employing around 1,500 at its peak in the 1970s.

Products produced there ranged from water and sewer pipes to auto parts until the doors were closed in 2013. The area has been vacant the past decade.

The city says it will pursue grants for environmental evaluation, remediation, site access, cleanup and redevelopment, leading to the opportunity for significant economic benefit.