Business and Economy - The Roanoke Rambler

Virginia Tech Foundation Razes Historic Roanoke Lumber Shop For Development Along Carilion Innovation Corridor

The university and hospital system say they don’t have specific plans for what may replace the recently demolished buildings.

Over the last decade, Southeast Roanoke has experienced the steepest drop in population among any Roanoke neighborhood.

An economic impact study estimates the project will support 2,053 jobs and generate $326 million in economic impact by 2040.

The mixed-use project will also include businesses and for residents feature a swimming pool, clubhouse, coffee bar and dog park.

R. P. Fralin Inc.’s scaled-back plan is the third time in five years it has tried to develop the land, efforts neighbors have rebuffed.

Called Melrose Plaza, the facility include a grocery store, banking center, health clinic and free high school for adults.

Local furniture maker Txtur will open Friday, followed by a boutique hotel and Nordic-inspired restaurant.

Yard Bull Meats opens beside Crystal Spring Grocery Co. and The River and Rail Restaurant with a variety of sausages, beef and seafood.

The hospital system avoided losses in recent years only thanks to pandemic relief funds, officials said.