The Governor announced this morning that Botetourt County and the Botetourt County EDA have been awarded a $450,000 grant for the redevelopment of one of the former Groendyk buildings in Buchanan.
Chris Vail and Brent Cochran are the principals of Factory Flats, LLC who own the property and are redeveloping the buildings for a retail brewery and approximately 20 residential apartments. The grant funds can be loaned to Factory Flats through the EDA for the redevelopment of one of the buildings housing the brewery. This is a great project for Factory Flats, the Town of Buchanan, Botetourt County, the EDA, and the region.
Here is the Governor's specific announcement of our project:
Factory Flats Revitalization | $450,000
Botetourt County, in partnership with Factory Flats LLC, will renovate the former Groendyk manufacturing facility into a mixed-use complex, complete with a brewery and retail operation, as well as up to 21 housing units on the site. This project will rejuvenate economic activity along the town’s main corridor, as well as provide much needed housing opportunities in the area. The brewery alone anticipates the creation of 10 new jobs, in addition to the generation of new local and state tax revenue.
Overall, the Governor made 20 grant awards totaling $24.7 M. We will be thanking everyone who has supported the grant proposal and look forward to the next steps with Factory Flats and the Department of Housing & Community Development!