Chesterfield plans $ 20million purchase of riverside property and shopping center
CHESTERFIELD, Va. (WRIC) – The Chesterfield County Supervisory Board will hold a public hearing to consider the $ 20 million transfer to the Chesterfield Economic Development Authority. The money will be used to finance the purchase of two properties: Spring Rock Green, a mixed-use commercial development on Midlothian Turnpike, and Adaline Acres, a wedding venue on the James River near Dutch Gap.
The purchase was proposed by Chesterfield County in July and would see the county leading the redevelopment of the dilapidated Spring Rock Green mall and granting public access to the James River via the wedding venue at Adaline Acres.
The price tag includes $ 16 million to buy the Spring Rock Green location, $ 6 million above the site’s estimated value according to Chesterfield’s own records.
Chesterfield’s board will accept public comment on the proposal at its August 25 meeting. The meeting will be held at 6:00 p.m. in the Chesterfield County Public Meeting Room at 10001 Iron Bridge Road.