According to Fairmount Properties the “1st and Main” shopping center proposition could very well “be the largest taxpayer in Blacksburg.”
Adam Fishman, a representative for Fairmount Property, presented the ideals and layout of the shopping center yesterday afternoon during a press conference in the Skelton Center.
According to his presentation, over $1 million have been spent in preliminary planning and zoning for the project.
Jeff Mitchell, a representative of Fairmount’s law firm, emphasized that the idea is a concept. Mitchell claimed their plans are in a “Vested position,” designs have been submitted and approved, and now they intend to move forward. Nothing yet has been set in concrete.
Only six days ago the plan was called Blacksburg Boulevard, but it is constantly evolving. As of right now the company is on site plan number 25 for the proposition, Mitchell said.
“It’s like a jigsaw puzzle,” Mitchell said.
Until everything is put together planners cannot determine what the final product will be.
Rumors have spread saying that the big box anchor store is going to be Wal-Mart. However Fishman clarified this hearsay.
“We are not in position to say it is Wal-Mart or some other big anchor.”
According to the plan, the space allotted for the big box anchor is 170,000 square feet. Fairmount Properties has been on the road speaking to several large anchors and other local, regional and national retailers that may be interested in leasing.
The plan is intended to support existing retail in Blacksburg. The struggles of businesses in downtown Blacksburg have been evident recently. Fishman believes a shopping center such as this will reduce shoppers going out of town.
“What we are trying to do is make this a regional shopping destination,” Fishman said.
Fishman realizes that online shopping is always a factor for retail businesses; however, this center is intended to draw consumers not only on the basis of shopping but for recreational purposes as well.
“We have to create a shopping destination that is inviting … (where consumers) can do multiple things at the same destination,” Fishman said.
The projected revenue for such a center is instrumental for the well being of Blacksburg. It has been calculated that this shopping center could bring in more than $1 million annually in tax revenue.
Upon interviewing 3,000 registered voters, the number one complaint from the community was the lack of retail venues available in Blacksburg, according to Fishman’s presentation. Accordingly, Fishman feels this project is something the “community can have and can embrace.”
In Fishman’s presentation it was suggested that the proposal of this shopping center is to “fight Blacksburg losses by winning.” According to Fishman the community only has to gain from the implementation of this shopping center on 1st and Main Street.
