Powhatan Point Downtown Revitalization Phase 2/3 Project Overview

 

The Powhatan Point Riverfront Resort Phase 2/3 Project Plan referenced below, represents the follow-on development to Phase 1 for the downtown riverfront properties, as reflected in the long term revitalization planning.  The Powhatan Point Riverfront Resort Phases 2/3 describes the redevelopment and construction of the: (a)  RP-4/5 Riverfront Resort Extended Stay Structures and Theater District Properties Projects; (b)  RP-6/7 Riverfront Resort Extended Stay Structures; and (c)  Boat Docks/Roads/Parking Lot Projects.

 

It offers the community a game-changing development, while providing its property owners and investors a significant financial, aesthetic, and functional benefit.   More specifically, it expands Phase 1 efforts, that 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 Projects represent 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 a long term attractive resort destination site.

 

The subsequent referenced Powhatan Point Riverfront Resort Phase 2 Layout Configuration describes the overall project areas and other phase efforts.

 

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

(a)   river front design that provides river drive/biking/walking street scape with cruise/stern wheeler docking wharf,

       boat docks, boardwalks, and distinctive river front landscape;

(b)  retail focus on cultural arts, specialty 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 Native-American

      legacy and get-away life-style, that attracts those vacation families, business seminar/tech conference attendee,

          time-share user, retiree, young single/couple new dweller, and senior down-sized couple for long-term sustainability;

(f)  development financing commits to only one or more phases construction process, to assure marketability and

      financial risks are minimized 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.

 

 

The Powhatan Point Riverfront Resort Project represents much more to the investor, government organization, and community:

(a)  investors are expected to benefit from 15% annual profit margins with a ten year loan payoff;

(b)  low-risk, phased build plan that iterates facility design utilizing modular building block construction; and progressive.

(c) satisfies immediate housing needs with an unique northeast destination site that offers short and long term benefits;

(d) adds 750-1,500 jobs with combination of service, construction, manufacturing (MMF), professional/business units;

(e)  provides potential purchasing power of 1,000 quests/renters per day, supports $10M a year to local businesses;

(f)   increases tax revenue by $10M/year for the state/county/local government based upon $300M development.

 

 

Phases 2 Plan

RP-4/5 and Theater District Properties Projects

 

 

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Phases 2 Plan

RP-6/7 and Theater District Properties Projects

 

 

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​(1) Seven levels (L1/L2-Parking, L3-Retail Office, L5/L6/L7-     Extended Stay Suites occupying 214,900 sqft of space     2 Bedroom Suites @ 900 sqft);1 Bedroom Suites @ 450 sqft(2) L1/L2 - Parking for 300 vehicles and utilities (8,000 sqft)(3) L3 - Retail/Office space (28,000 sqft);(4) L4/L5/L6/L7 - Hotel (4/22 -1/2 bedrooms per floor)(5) Hotel complex 16/88 suites - 2/1 bedrooms = 64/352 suites;(6) L8 - Roof Restaurant/Bar, Pool/Fitness Center, Conf Rooms;(7) Atrium design with interior and exterior balconies;(8) Two elevators/two emergency staircases to all levels;(9) 20 ft Boardwalks at retail level overlooking the Ohio River;(10) Waterfront street scape, road, retaining wall and boat dock(11) Theater District land acquisition;(12) Community Square with Indian sculptures and artwork;(13) River Road/First St Realignment streets cape development;(14) Green construction/enhanced infrastructure development.Desired Retail/Office Tenants Retail/Professional Office Firms Representing:● Bakery/Coffee/Fast Foods,● Services● Retail● Banking, Accounting and Legal Services● Consulting and Management Organizations● Gas Fracking Development Services● Sales, Distribution and Franchise Coordination● Design, Research, Incubator, Development Firms● Marketing, Advertising, Communication Services Desired Hotel Quest Offerings● Gas Fracking Personnel/Corporate Tenants● Week/Weekend Vacation Visitors● Daily Use