Onancock to receive $1 million to rehabilitate the Lilliston Building

December 29, 2022
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Lilliston Building Onancock

RICHMOND, VA – Governor Glenn Youngkin announced more than $24.7million in 20 Industrial Revitalization Fund (IRF) grants. IRF grants provide gap financing for construction projects aligned with local and regional economic development strategies, primarily in distressed communities.   The grants include $1 million to rehabilitate the Lilliston Building in Onancock.

“The transformation of older, vacant or blighted structures into productive, usable spaces is crucial to catalyzing economic growth to create thriving communities,” said Governor Glenn 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.”

The Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties. The program is targeted toward vacant non-residential structures whose poor condition creates physical and economic blight to the surrounding area in which the structure is located. Projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of impediments to economic development efforts, alignment with regional or local strategies, availability of matching resources, the level of community distress where the property is located and an identified and feasible end use.

“These funded projects are transforming deteriorated structures that impede future economic development efforts into small businesses, tourism destinations, and sources of community pride,” said Secretary of Commerce and Trade Caren Merrick. “Through IRF grants, we are able to make investments in both Virginia’s infrastructure and vibrancy by supporting impactful projects, encouraging strategic collaborations, and fostering economic development efforts across the Commonwealth.”

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The 20 awarded projects will create over 600 jobs and leverage an additional $72.8 million in public and private investment and include five mixed-use projects that will create nearly 200 new residential units. Since 2012, the IRF program has funded 38 projects that have revitalized vacant, blighted buildings. These projects have generated more than $121 million in other public and private investment and resulted in the creation of more than 485 jobs across the Commonwealth.

The town of Onancock will rehabilitate the Lilliston building, which has been vacant for almost 20 years, into a mixed-use structure with first floor commercial storefronts and six residential units on the second. This project is viewed as a catalytic project for the downtown commercial district of Onancock, with two businesses committed to locating in the building once renovations are completed and creating at least 20 new jobs.

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