Grundy Town Center in Grundy, VA
Grundy, VA is a small town located in the hills of Southwestern Virginia. In 1977 Grundy’s Commercial center was destroyed by flooding of the Levisa Fork River. This flood initiated a major flood control project to protect Grundy from future devastation. This flood project sparked new efforts to rebuild and provide a future for its remaining residents. A new Town commercial center, anchored by Wal-Mart, was made possible through the use of New Markets Tax credit funding. The first phase of restoration required carving space out of the mountain side(well above the river) to build the new community. The new Town Center will become an economic engine stimulating additional development in the area. Already two additional buildings have been added bringing new business and jobs.
Plymouth Soundings working with the Grundy, VA Industrial Development Agency coordinated all financial activities necessary to obtain NMTC allocation, provided guidance to accounting during construction and conversion operations, assisted with audits and compliance reporting.
Other Projects in Plymouth Soundings’ Portfolio
ArtsQuest Images, Plymouth Soundings Projects
Award winning Performing Arts Center in Bethlehem, PA, built on the largest brownfield site in America. This state of the art facility has enabled significant expansion of the Musikfest, 10 day community festival, Christkindlmarkt and First Night events as well expanded delivery of other arts and educational programs to the Community.
PBS – 39 Images, Plymouth Soundings Projects
PBS-39 is a sister project to the ArtsQuest Performing Arts facility. This project enabled this public broadcasting station to build a new facility, upgrade its broadcasting equipment, expand its offerings to schools and continue to provide meaningful local programming.
Patrick Henry Hotel Images, Plymouth Soundings Projects
The once elegant Patrick Henry Hotel in Roanoke, VA, has been transformed into a mixed-use project that revitalizes a significant downtown landmark. Built in 1921 and a sentimental favorite in Roanoke, the brick and stone hotel has been
The Tennessee Theatre Images, Plymouth Soundings Projects
The renovation of an historic 1928-movie palace transformed the Tennessee Theatre into one of the premiere performing arts facilities in Tennessee. Scope included coordination of construction project, financing, fundraising, accounting, operations planning, cash flow and
Proctor’s Theatre Images, Plymouth Soundings Projects
Teaming with Key Bank and Sherwin Williams Company, Proctor’s Theatre accessed a reduce rate New Market Tax Credit Loan, both Historic Rehabilitation and 10% Rehabilitation Federal Tax Credits, and NMTC’s.
The Clemens Center Images, Plymouth Soundings Projects
Partnering with Sherwin Williams, The Clemens Center project accessed 10% Rehabilitation Tax Credits, and is also currently being considered for New Markets Tax Credits.
The Fox Theatre Images, Plymouth Soundings Projects
The Fox accessed both New Markets and Federal Historic Tax Credits in a partnership with US Bank and Enterprise Community Investment Inc. This project was concluded in 2006 and received over $13MM in New Markets and Federal Historic Tax Credits, netting approximately $8MM.
Cotton Mill Images, Plymouth Soundings Projects
Cotton Mill State HTC’s-$3.1MM The Cotton Mill is in fact an old Cotton Mill from the early 1900’s. It is located in a severely depressed part of Roanoke and has been abandoned for many years. The building was just another derelict building in a decaying part of the City. It was recently purchased by a →