Roanoke County, Roanoke and Salem announced plans Monday to jointly acquire about 106 acres along Interstate 81, near Exit 143, that will help fill the region’s need for larger sites for development.
The property is on Wood Haven Road in Roanoke County.?
The site consists of five parcels that already were on the market and are under option to the Roanoke Valley Development Corp. for a purchase price of $5.25 million. The corporation has a long history of key, short-term investments for economic development.
It represents the first project of the Western Virginia Regional Industrial Facility Authority (WVRIFA). Formed in 2013, WVRIFA, came into being because of the Virginia Regional Industrial Facilities Act, which allows members to share in tax revenue produced by the eventual user. ?
