MARTINSVILLE — The city has been awarded $1 million from the Virginia Tobacco Region Revitalization Commission, which will be matched in local contributions to support the redevelopment of a former furniture plant.
The Martinsville Economic Development Authority (EDA) announced Sept. 26 that more than $2 million in funding will be used to support the adaptive reuse of the historic American of Martinsville Plant 10, located at 51 Lester St.
“This is more than a redevelopment — this is a generational investment in our community,” said Del. Eric Phillips, R-Henry, who also serves as chair of the Martinsville EDA Board. “The reuse of Plant 10 will breathe new life into uptown, attract talent, spur business, and honor the industrial legacy that helped shape Martinsville. We’re deeply grateful to the Tobacco Commission and our local partners for believing in our future.”
The 98,000-square-foot industrial building — once a cornerstone of Martinsville’s then-booming furniture manufacturing industry — will be transformed into a 100-unit mixed-use development with street-level retail and community amenities. The project addresses critical housing needs and aligns with the city’s strategic vision for revitalizing uptown Martinsville, according to the EDA release.
Eric Payne, executive director of the Martinsville EDA, will manage the project, located just steps from the Dick & Willie Passage Trail and one block from the Courthouse Square.
“We are proud to bring new purpose to one of Martinsville’s most iconic industrial sites,” said Payne, “This is a foundational project that will deliver real economic and community value for decades.”
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Partners in the project include the city of Martinsville, The Harvest Foundation, Uptown Partnership, and Martinsville-Henry County EDC, with the anticipation of it becoming a catalyst for further investment in housing, infrastructure, and public space in uptown Martinsville, the release stated.
The project builds upon a 2022 feasibility study by CJMW Architecture and reflects housing demand research by Novogradac Consulting, as well as other regional studies.
“It is a key priority in the EDA’s strategy to support 500 new housing units through coordinated public and private investment,” the release said.
The $2 million funding will support environmental and structural assessments, architectural and engineering design, and site preparation and stabilization.
Including in the total funding are $1 million from the Virginia Tobacco Region Revitalization Commission; $403,325 from the Martinsville EDA for site acquisition; $450,000 in anticipated support from local partners; $100,551 from past EPA and Virginia Brownfields Assistance Fund grants; and $80,000 from the Virginia Department of Housing and Community Development’s Industrial Revitalization Fund Planning Grant.
“American of Martinsville, 51 Lester, has the potential to be a cornerstone of uptown’s future,” said Mayor LC Jones. “This investment accelerates our vision of a vibrant, connected city where history meets innovation — and where residents can live, work, and thrive.”
“We are proud to support this community-driven initiative,” said The Harvest Foundation President Kate Keller. “This project reflects the resilience and forward momentum of Martinsville.”
Pre-development work is set to begin in the coming weeks, with a projected timeline of five months to prepare the site for complete redevelopment. The EDA plans to utilize historic tax credits and other incentives to support the construction and long-term operation of the mixed-use site, according to the release.
Said Phillips: “We are excited and ready to get to work. Special thanks to the Virginia Tobacco Region Revitalization Commission Executive Director James Campos, Deputy Director Stephen Versen, Southern Regional Director Sarah Capps, and grant writer Catherine Van Noy, whose collaboration was essential in making this happen.”
Bill Wyatt
(276) 591-7543
bill.wyatt@martinsvillebulletin.com
@billdwyatt on Twitter
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