MARTINSVILLE, Va. (rbs news now) — The Martinsville Economic Development Authority has received a $1 million grant from the Virginia Tobacco Region Revitalization Commission to support the adaptive reuse of the historic American of Martinsville Plant 10 at 51 Lester Street.

The grant, combined with more than $1 million in local contributions, will fund more than $2 million in pre-development and stabilization work for the 98,000-square-foot industrial building.

Once a cornerstone of Martinsville’s furniture manufacturing industry, the building will be transformed into a 100-unit mixed-use development with street-level retail and community amenities.

“This is more than a redevelopment — this is a generational investment in our community,” said Delegate Eric Phillips, chair of the Martinsville EDA Board. “The reuse of Plant 10 will breathe new life into Uptown, attract talent, spur business, and honor the industrial legacy that helped shape Martinsville. We’re deeply grateful to the Tobacco Commission and our local partners for believing in our future.”

Located near the Dick & Willie Passage Trail and one block from Courthouse Square, the site is intended to serve as a catalyst for further investment in housing, infrastructure and public space in Uptown.

EDA Executive Director Eric W. Payne said the project reflects years of planning and research, including a 2022 feasibility study by CJMW Architecture and housing demand analysis by Novogradac Consulting.

It is part of the authority’s strategy to support 500 new housing units through coordinated public and private investment.

The $2 million package will support environmental and structural assessments, architectural and engineering design, site preparation, stabilization, remediation and infrastructure planning.

In addition to the $1 million TRRC grant, funding includes $403,325 from the Martinsville EDA for site acquisition, $450,000 in anticipated support from local partners, $100,551 from previous EPA and Virginia Brownfields Assistance Fund grants, and $80,000 from Virginia DHCD’s Industrial Revitalization Fund Planning Grant.

Pre-development work is expected to begin in the coming weeks and take about five months to prepare the site for full redevelopment.

The EDA plans to use historic tax credits and other incentives to support construction and long-term operations at the mixed-use site.

“We are proud to bring new purpose to one of Martinsville’s most iconic industrial sites,” Payne said. “This is a foundational project that will deliver real economic and community value for decades.”

Phillips thanked TRRC Executive Director James Campos, Deputy Director Stephen Versen, Southern Regional Director Sarah Capps and grant writer Catherine Van Noy for their collaboration.

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