COMMENTARY: City $ for Apartment Conversion

Williamsburg to fund portion of planned mixed-use project using 'demolition' money

The City’s Economic Development Authority recently approved a grant to the developers of a bank building on Richmond Road which will be converted into apartments. (Image: George Arbogust, Williamsburg Independent)

At a recent meeting, the Williamsburg Economic Development Authority approved grant funding for part of the redevelopment of the old Wells Fargo bank building on Richmond Rd. Digby Solomon in Williamsburg Watch reported that the $99K grant money comes from the City by way of a program meant for property demolition and other reserve funds. A City document explaining the program states, “The Williamsburg Economic Development Authority (EDA) Demolition Grant Program was established in 2016 to encourage private investment in the City’s commercial areas, enhancing their economic vitality from both functional and aesthetic standpoints.” Another recent project approved under the grant is demolition of the old DMV building on Capitol Landing Road.

Project Background

The owner of the ba…