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Gov. Youngkin announces $450,000 for retail brewery revitalization project in Buchanan

FILE PHOTO - Governor Glenn Youngkin at the Virginia Farm Bureau Federation Annual Convention. (Credit: Virginia Farm Bureau Federation)
FILE PHOTO - Governor Glenn Youngkin at the Virginia Farm Bureau Federation Annual Convention. (Credit: Virginia Farm Bureau Federation)
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Governor Glenn Youngkin has announced that the Town of Buchanan has been awarded $450,000 as part of the Virginia Department of Housing & Community Development's 2022 Industrial Revitalization Fund (IRF).

The grant will be used to renovate one of the former Groendyk Manufacturing buildings into a retail brewery, in partnership with Factory Flats LLC. The Botetourt County Economic Development Authority will administer the funds, which will be provided to the private developer as a loan.

The project is expected to rejuvenate economic activity along Buchanan's main corridor and provide much-needed housing opportunities in the area. The brewery alone is expected to create 10 new jobs in the community.

RELATED: Gov. Youngkin announces over $24.7 million for industrial redevelopment projects

“I am thrilled with this announcement and what this will mean for the Town of Buchanan, and for the entire community,” said Amy White, a representative for the Buchanan Board of Supervisors. “This moment really speaks to the power of partnerships and to innovative planning. The repurposing of this Buchanan landmark is truly a transformational and impactful endeavor.”

The redevelopment of the former Groendyk Manufacturing buildings was a high priority in both the Town of Buchanan and Botetourt County Comprehensive Plans, and the reimagined use of the downtown property, now called Factory Flats, is expected to significantly impact the Town's economic development while preserving the building's history.

"On behalf of Factory Flats, we are excited to get this redevelopment project underway. The Groendyk building is a great opportunity to repurpose a historic structure for mixed-use that benefits both the community and its future residents. Aided by obtaining historic tax credits, we plan to preserve much of the historic fabric of the buildings including the brick, flooring, window openings, and roofline,” said Chris Vail, Lead Developer.

SEE ALSO: Danville awarded $5 million to help restore White Mill building

In total, more than $24.7 million in 20 IRF grants were awarded throughout Virginia. IRF grants provide financing for construction projects that aim to revitalize vacant non-residential structures that have a significant negative impact on the surrounding area.

"The transformation of older, vacant or blighted structures into productive, usable spaces is crucial to catalyzing economic growth to create thriving communities," said Governor Youngkin. "The Industrial Revitalization Fund continues to be an important resource for those redevelopment efforts, spurring regional partnerships, economic development, and job growth across the Commonwealth."

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