The old Walker Machine & Foundry sits in Â鶹´«Ã½¹ÙÍø’s Norwich neighborhood. Plans are in the works to redevelop the land for mixed commercial and residential uses.
Luke Weir Photos, The Â鶹´«Ã½¹ÙÍø
The old Walker Machine & Foundry sits in Â鶹´«Ã½¹ÙÍø’s Norwich neighborhood. Plans are in the works to redevelop the land for mixed commercial and residential uses.
A $1 million state grant will help renovate the century-old Walker Machine and Foundry site in southwest Â鶹´«Ã½¹ÙÍø’s Norwich neighborhood, city officials announced Monday.
A developer named Greg Kaknes is repurposing for residential and commercial uses the old industrial property that shut down in 2019. A $2 million sale of about 12.5 acres finalized in April, according to city tax data.
The $1 million grant is from the Virginia Department of Housing and Community Development’s Industrial Revitalization Fund. The city’s economic development authority applied on behalf of Kaknes’s company, The Foundry Realty.
“We have received tremendous support and encouragement from the city,†Kaknes said in the announcement. “And look forward to repaying that trust with a truly transformational project for Norwich.â€
Plans call for reclaiming 30,000 feet of concrete slab as usable green space. A food and beverage provider, commercial office space and 275 new housing units are also part of the plans, the announcement said.
“All housing units are intended to be affordable, targeting workforce housing levels through Virginia Housing,†the announcement said. “The developer intends to pursue other state grant- and loan-financing opportunities.â€
The Foundry will bring critical amenities, jobs, and economic activity to a historically underserved neighborhood, Economic Development Authority Chair Braxton Naff said in the announcement.
“Initiatives like this have the power to create lasting change, not just in the Norwich neighborhood, but across the entire City,†Naff said. “We deeply appreciate the state’s support and investment in both this project and our community overall.â€
The old Walker Machine & Foundry sits in Â鶹´«Ã½¹ÙÍø’s Norwich neighborhood. Plans are in the works to redevelop the land for mixed commercial and residential uses.
The old Walker Machine & Foundry sits in Â鶹´«Ã½¹ÙÍø’s Norwich neighborhood. Plans are in the works to redevelop the land for mixed commercial and residential uses.
