The Old Prices Fork School Community Revitalization Project has been awarded $2.5 million from the Virginia Department of Housing and Community Development’s Vibrant Communities Initiative (VCI). The project’s first phase, which is already underway, converts the former classrooms of the old Prices Fork Elementary School into 16 two bedroom apartments, with 10 affordable and six market-rate units for people 55 and older. Phase I is funded in part with state and local HOME funds.
The second phase, which includes VCI funding as well as $500,000 in Appalachian Regional Commission funding, includes two components: (1) the Old School Food Center, which will provide innovative economic development opportunities for new or expanding local food-based entrepreneurs through the creation of a commercial incubator kitchen, farm-to-table restaurant, retail market, craft brewery and business competition with support services, and, (2) 16 new apartments with a mix of affordable and market rate units.
The project is a unique and unprecedented collaboration of 21 public and private organizations including the Regional Commission, Montgomery County, Town of Blacksburg, Virginia Community Capital, Community Foundation of the NRV, Taylor Hollow Companies, the New River Valley HOME Consortium, Beans and Rice, and Old School Food Company.
Project planning and design will continue through 2016, with construction slated to start at the beginning of 2017.
For further information, please contact Jennifer Wilsie ([email protected]), 540-639-9313 x204.