Rocky Mount looks to the future with property purchases

Big investments could have a significant impact on town and its residents for years to come, officials say.

Last year the Town Council and its Economic Development Authority purchased a 64-acre tract of property located at the intersection of U.S. 220 and Virginia 40 in town. The purchase cost of the property was $5 million, which will be financed by the town.

The property is one of the town’s last undeveloped tracts of land. Town Manager Robert Wood said the purchase will allow the town to have some input on how the property develops in the future. He said the vision he shares with the council is for it to one day be a significant point of interest for the town providing much needed housing as well as commercial property.

“We are in a really good position because we have a really good council that is interested in getting these things done,” Wood said. “We feel like we have qualified staff that can work on these projects. Not that as local government we control everything, but we like to have some influence and push things in a certain direction and maybe bring things here that wouldn’t happen on their own.”

Assistant Town Manager Mark Moore said the vision for the 64-acre tract of property is for it to one day become a type of town center similar to Daleville in Botetourt County. The pedestrian-friendly development boasts a variety of housing types and businesses with a market square and pavilion.

Moore said it will take a lot of work to get the property to that point, but is optimistic the town will see it through.

“That is where vision and intestinal fortitude come in for governing bodies,” Moore said. “We see this on the horizon. We can make it happen and you push through. Otherwise, if you do what you’ve always done you will get what you’ve always got.”

Planning for the property has been delayed since its purchase in March 2023. Wood said businesses currently located on the property have not completed their relocation to the Franklin County-Rocky Mount Industrial Park.

Wood said the town will use funding from a state grant to hire a consultant that will be able to provide concept plan. Those plans can be used to attract developers to purchase some or all of the property for new businesses and new housing.

“We will use state money to put a plan together and that is going to start right after the first of the year,” Wood said.

Taking a proactive step in the town’s growth is also why council members voted to purchase the former Atlantic Union Bank building in Rocky Mount’s downtown in May. The property is known as The People’s National Bank due to the name written on the building’s facade.

“We wanted to make sure that whatever goes in there will be something that helps with the redevelopment and improvements downtown,” Wood said. “You want something that helps with that rather than detract from that.”

Wood said the town plans to start eliciting feedback from potential developers of the property early next year. They will be sending a “request for qualifications” from interested developers to get an idea of who may be interested in the property.

Once the town finds a developer with a plan for a business that can add to the growing downtown, the plan is to sell the building. The building was purchased by the town for $475,000.

Wood said the town doesn’t want to dictate exactly what business comes to the building. The goal is to make it something that will add to the growing popularity of Rocky Mount’s downtown.

The downtown has seen substantial growth in recent years with the addition of the Harvester Performance Center in 2014. The venue brings in several moderate to large entertainment acts each year that draw crowds to downtown and surrounding businesses.

“You want a business there that would help bring people downtown and keep people downtown,” Wood said of the former bank building.

Wood said there is no timeline for when a developer may purchase the property. The goal is to wait for the right opportunity to come along that will benefit the town the most.

Wood praised the work by council members in recent years that has helped to put the town in a position that has allowed them to purchase property. He also commended their vision to move forward with these purchases.

Mayor Holland Perdue agreed that council has seen the potential in these properties and as been willing to invest in them for the benefit of the town. He said these investments will allow the town to continue growing with proper development guided by the town council and its staff.

“I think it is important for the future of Rocky Mount to take these steps,” Perdue said.

With no definitive plans for the properties currently in place, Wood said there was a certain risk involved in the purchases. But if they are successful in attracting businesses and developers, it could potentially be a major benefit for the town and surrounding community that spurs growth when so many other small towns are shrinking.

“There is risk in these things,” Wood said of taking on these projects. “I think there is actually a bigger risk in not doing anything.”