Powhatan Point Riverfront Resort Phase 1 Project Plan

 

The Powhatan Point Riverfront Resort Project Plan illustrated below, represents the initial $64M development for the downtown riverfront properties as reflected in the long term revitalization planning.  The Phase 1 Prospectus describes the construction and rehabilitation of the: (a)  RP-1 Powhatan Cultural Center (Rehab); (b)  RP-2 Riverfront Resort Hotel Building 2/Common; (c)  RP-3 Riverfront Resort Hotel Building 3/Common; and (d)  RP-11 Modular Manufacturing Facility.

 

It offers the community a game-changing development, while providing its property owners and investors a significant financial, esthetic, and functional benefit.   More specifically, it exploits the current gas boom housing demand to meet initial hotel/housing occupancy requirements and maximize short-term ROI, which further establishes a foundation for a long-term resort revenue generator. The Powhatan Point Revitalization Association (PPRA) has initiated the feasibility research, concept development, and financial analysis to assess implementation and planning for the short and long term project goals.  The Project is a phased redevelopment plan of the downtown waterfront district guided by applying mixed land use with performing arts, hotel/conference center, retail, office and luxury apartments under a central historic and cultural arts theme.  Combined with scenic and recreational attributes the development would create an attractive destination site.  

 

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Powhatan Point Riverfront Resort Phase 1 RP-1/2/3/11/Common Project Plan (highlighted in red)

 

The downtown resort theme integrates a complementary set of elements including:

(a)  river front design that provides river drive/biking/walking streetscape with cruise/sternwheeler docking wharf, boat docks, boardwalks, and distinctive river front landscape;

(b) retail focus on cultural arts, speciality stores and eateries offering unique identity and product creates a broader attraction of the regional public;

(c) professional office that focuses on fracking support industry, incubator research, software development and consulting companies seeking attractive working environment/living conditions for its employees;

(d) luxury apartments integrated into the downtown complex with river views, balconies, high quality design/amenities with work, shop and play environment;

(e) destination enclave offering unique character and charm, year-round recreation, serenity, an indian legacy and get-away life-style, that attracts those vacation families, the business seminar/tech conference attendee, a time-share user, a retiree, the young single/couple new dweller, and senior down-sized couple;

(f) development financing commits to only Phase 1 construction process, with options for Phase 2 and 3, applying an initial 50/50 equity/loan plan that is complemented by land bank investments, federal/state/local government subsidies that magnifies amortization ROI; and

(g) modular/iterative unit construction plan with production facility on-site, that reduces build plan costs and schedule to six months per building.