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Petersburg cigarette factory targeted for homes and retail

By Nicole Bell - bio | email

Posted by Terry Alexander - email

PETERSBURG, VA (WWBT) - A Richmond-based development group unveiled a proposal to convert the the old Brown and Williamson factory in Petersburg into a multi-million dollar residential and retail complex.

There will be approximately 150 apartment homes and retail on the first floor. It will also feature a pool and fitness center. That's just phase one of the six phase project.

"We're not just developing a few apartment communities and retail. We're developing a corridor and that corridor is the Market Street corridor," said Michael Glass, Franklin Development Group Spokesperson.

The plan comes with a hefty price tag of 100 million dollars.

Glass says the development group is trying to time out the project with the anticipated increase in soldiers headed to Fort Lee via the BRAC relocation.

The project was revealed to city planners last week. A similar project is on the horizon a few blocks away. It's called Tobacco Star. If it wins approval 75 apartments will initially be developed.

City Councilman Brian Moore says both projects will bring people and jobs to the area.

"Projects like these will help bring the economy back. This project will create jobs and opportunities for other companies to provide supplies," said Moore.

A public forum is expected to be held either later this month or early next month on the Brown and Williamson project, then city council will vote on the proposal.

If the project wins approval by city council it's expected to be completely finished by 2015.

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