MARTINSBURG, W. Va — Historic buildings that once housed clothing brands may simply be living and advertising spaces in downtown Martinsburg, W. Va.
Monument Companies of Richmond, Virginia, is making plans for the $80 million project, which will rehabilitate and revitalize the former sites of Interwoven Mill and Perfection Garment Co.
The houses span approximately 12 acres in the city.
“For many years, those garment factories have been the engine of Martinsburg’s economy. But times are transforming and those vacant sites have long been hot spots for Martinsburg that the city council and I have painted hard to resolve,” said Martinsburg Mayor Kevin Knowles. said in Thursday’s announcement. ” The City is pleased to paint with a team that comes close to Monument’s delight and ability to revitalize those vital sites in our community. This task will be transformative.
The announcement described the allocation as a “mixed-use and traditionally sensitive progression of approximately 370,000 square feet” in 3 phases.
Over time, the allocation will create more than 5,000 feet of new advertising area and approximately 387 residential complexes at market prices.
The Interwoven factory, which was once the world’s largest men’s socks production plant, according to previous reports from Herald-Mail Media, was introduced in the 1890s and, by the early 1900s, the company had 2,000 national accounts, adding up some of the largest retail companies in Europe. the country.
Interwoven flourished until the inventory market collapse of 1929, and then faced demanding situations of organized hard work and superior festivals in the following decades.
Perfection Garment Co. manufactured women’s clothing.
According to the announcement, Monument Companies, founded in 1988, has “great delight in land development, structure and asset control and has effectively undertaken primary historic revitalization projects in the Mid-Atlantic. “
The company “has evolved and internally manages a genuine real estate portfolio valued at more than $200 million,” he says.
“Projects like this are the explanation for why we come to paint every day,” Chris Johnson, director of Monument Companies, said in the announcement. “We have great delight in revitalizing historic buildings and are very proud to bring old buildings like those back to life. While those buildings have been empty for decades, they can be a long-term component and can be a vital catalyst for the continued revitalization of downtown Martinsburg and the surrounding community.
The project’s architect, Erin Barrineau, said the opportunity to remodel historic buildings is a “no-brainer. “
“These buildings are beautiful examples of their ancient time and use, and we are very happy to maintain something so historic and for the community,” he said.
The president of the county council, Copenhagen, led negotiations with Monument Companies, until Thursday’s announcement.
Under the terms of the agreement, the county will not grant any tax relief below the values of existing assets, however, it has agreed that tax increases will occur at a predictable point as assets improve. In addition, the county will get an upfront payment of $250,000 for Monument’s Quality of Life to aid future innovations in and around the City of Martinsburg. The personal sector-led allocation shall meet all the needs of federal, state, and local legislation related to sanitation and land development.
“An agreement to bring progress to those sites took years, and we can all see only through the numbers, but through the effect on our network, that this is a smart deal for everyone involved,” Copenhagen said.
He credited the county’s progress authority for offering “the legal capacity and doing smart business. “
“This is our network and a strategic opportunity to remake the old with the new; embrace our history and fulfill our city’s long-term desires,” said Sandy Hamilton, executive director of the authority. “The remodeling of Interwoven and Perfection is the best example of the effects of a collaboration.
Work of all kinds has been carried out in homes to assess environmental situations and remediation needs, and to expand on recommendations.
“Since 2014, we have been running every day to make this assignment more viable and appreciate the help of many partners throughout the process,” Martinsburg City Manager Mark said in the statement. “We are grateful to so many groups, from EPA Region 3, who provided a Brownfield assessment grant, to netpaintings members of the Brownfield Grants Committee to explore how to use those funds, to our partners at Sustainable Strategies DC and Environmental Resources and Consulting. and the elaboration of strategic plans has allowed us to get to where we are today. Most importantly, we appreciate Monument’s resolve to make such an investment in our net paintings and return those long-damaged homes to productive use. »
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Gov. Jim Justice and Shane Farthing, the city’s director of economic development and networking, issued statements praising the project.
“I am very proud that the Martinsburg network continues to take them out of the park through the revitalization of their city and the momentum of economic development,” Justice said.
Interwoven’s assets have been owned since 2014 through Larry and Kelly Wright, who bought the assets in a tax sale.
“We are pleased to have reached an agreement that will make this asset a positive element, and entrust it to an experienced team with the skills and capital to make it even more formidable,” Wright said. “We appreciate all the hard paintings of the city over the years, and that of all the partners to make this possible. “