Bristol, Virginia announces new development
Updated On: Aug 22 2012 02:59:03 PM CDT
Bristol, Virginia has been working to bring in a development off exit 5 and Wednesday they announced plans of just that.
"I'm extremely excited for this project and for this community there has never been a more wonderful community that this to benefit from such a development," said City Manager Dewey Cashwell.
The development will be called The Falls and will expand nearly 140 acres, providing over 2,000 jobs, almost 300 coming from Cabela's alone.
City leaders tell us that it was not an easy task getting the plans confirmed. "Anyone who has ever done a major task and realized that they had to go to Richmond or any other capitol to get things done knows how hard the work can be," said Cashwell.
State officials said that it was a daunting process but with the help of others, they knew they could make it happen. "We just had to cut to the chase and say well we're going to get it done, let's just figure out how," said delegate Israel O’Quinn.
We learned The Falls will cost over $200 million and the development will occur over three phases. When complete it will house 1.47 million square feet of retail space and bring in over $500 million in annual sales.
"For something that's not going to just be a retail site, it's going to be a destination. Look at the numbers of what a Cabela's can draw in over the course of a year," said O’Quinn.
City manager Dewey Cashwell tells us he thinks this is a great move for both Bristol, Virginia and Bristol, Tennessee. "All boats are lifted with a rising tide. The rising tide that we are enjoying today is the result of both communities doing the right thing," said Cashwell.
The construction is scheduled to begin next year with Cabela's opening in 2014.
This is the first Cabela's to open in Virginia.
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