Route 460 Corridor North

  1. Character: A 4.3 square mile section of the City of Roanoke bordered by Plantation Road NE to the west, Orange Avenue NE to the south/southeast, and the city limit to the north/northeast. Includes the Roanoke Center for Industry and Technology (RCIT). The tract is bordered to the east by Opportunity Zone, Census Tract 6.2.
  2. Opportunity Zone Census Tract #: 6.1
  3. Nearby Businesses: Roanoke Centre for Industry and Technology and Statesman Industrial Park as well as the following businesses: Roanoke E-811/911 Center, Orvis Distribution Center and Offices, Advance Auto Parts Distribution, Eaton Distribution, Revlon/Elizabeth Arden Distribution, FedEx Ground Operations Center, and Grand Home Furnishings Warehouse
  4. 30-Minute Drive Quick Facts (2019):
    • Total Population: $231,200
    • Population Growth 2010-2019: 3.69%
    • Population Per Square Mile: 732
    • Median Age: 43
    • Median Household Income: $54,293
    • Average Household Income: $74,296
    • HS Diploma or Higher: 89.8%
    • Bachelor’s or Higher: 29.7%
    • Total (NAICS11-19) Businesses: 9,372
    • Total Housing Units: 105,708
    • Owner Occupied Housing Units: 61,116
    • Median Home Value: $188,782         
    • Average Home Value: $243,249
  5. Infrastructure:
    1. Water and Wastewater: Western Virginia Water Authority
    2. Natural Gas: Roanoke Gas
    3. Electricity: Appalachian Power
    4. Fiber: Total coverage by various providers
    5. Transportation: I-581, US 460, public bus, Amtrak, commercial airport
  6. Federal, State, or Local Incentives that May Apply: Enterprise Zone, Conservation and Rehabilitation District, local incentives by project
  7. Master Plan Available for the Project Area? Find development standards here for The Roanoke Centre for Industry and Technology (RCIT)
  8. Description of Potential Investment: Tract A in RCIT (12 acres), AT&T building/site (70,000+ s.f. office, 13.8 acres), and several buildings available in Statesman Industrial Park
  9. Recent Investments: Blue Hills Drive extension ($1.5 million.), E-811/911 center ($15.7 million). District Vue Apartment Homes (324 units)

Route 460 Corridor South

  1. Character: A 2.4 square mile section of the City of Roanoke bordered by Orange Avenue NE to the north, Interstate 581 to the west, Norfolk Southern railroad tracts to the southwest and the city limit to the east/southeast. The tract is adjacent to Opportunity Zone Census Tracts 6.1 and 11.
  2. Opportunity Zone Census Tract #: 6.2
  3. 30-Minute Drive Quick Facts (2019):
    • Total Population: 253,761
    • Population Growth 2010-2019: 3.56%
    • Population Per Square Mile: 590
    • Median Age: 43.5
    • Median Household Income: $55,161
    • Average Household Income: $75,506
    • HS Diploma or Higher: 89.9%
    • Bachelor’s or Higher:29.6%
    • Total (NAICS11-19) Businesses: 9,795
    • Total Housing Units: 114,969
    • Owner Occupied Housing Units: 68,379
    • Median Home Value: $191,442
    • Average Home Value: $248,218
  4. Nearby Businesses: Norfolk Southern Maintenance Shops, Regional Refuse Transfer Station, United States Postal Service, Berglund Center, Virginia Transformer Corporation, Roanoke Gas Company, Magic City Ford/Lincoln, Roanoke Valley Community Credit Union, and Member One Federal Credit Union
  5. Infrastructure:
    • Water and Wastewater: Western Virginia Water Authority
    • Natural Gas: Roanoke Gas
    • Electricity: Appalachian Power
    • Fiber: Total coverage by various providers
    • Transportation: I-581, US 460, public bus, Amtrak, commercial airport
  6. Federal, State, or Local Incentives that May Apply: Enterprise Zone and local incentives by project
  7. Description of Potential Investment: Private investment opportunities are available in the census tract, including numerous along the Orange Avenue border.
  8. Recent Investments: Planet Fitness, big box retail space

Innovation Corridor

  1. Character: Extremely diverse with uses ranging from residential to medical to recreational. Notable institutions include the Fralin Biomedical Research Institute at VTC, Radford University Carilion, Carilion Clinic, and Carilion Roanoke Memorial Hospital. A portion of the City of Roanoke’s Riverside Sports Complex is also located within this tract. Located immediately adjacent to downtown in Census Tract 11.
  2. Opportunity Zone Census Tract #: 12
  3. Zoning: RM-1, RM-2, D, CN, IN, MX, INPUD, ROS, I-1
  4. 30-Minute Drive Quick Facts (2019):
    • Total Population: 249,313
    • Population Growth 2010-2019: 3.52%
    • Population Per Square Mile: 666.3
    • Median Age: 43.4
    • Median Household Income: $54,977
    • Average Household Income: $75,273
    • HS Diploma or Higher: 89.9%
    • Bachelor’s or Higher: 29.9%
    • Total (NAICS11-19) Businesses: 9,667
    • Total Housing Units: 12,93
    • Owner Occupied Housing Units: 66,78
    • Median Home Value: $191,245
    • Average Home Value: $246,236
  5. Nearby Businesses: Carilion Clinic medical offices, Carilion Roanoke Memorial Hospital, Virginia Tech Carilion School of Medicine, Fralin Biomedical Research Institute at VTC, Radford University Carilion, Spring Hill Suites by Marriott, multi-family residential
  6. Infrastructure:
    • Water and Wastewater: Western Virginia Water Authority
    • Natural Gas: Roanoke Gas
    • Electricity: Appalachian Power
    • Fiber: Total coverage by various providers
    • Transportation: I-581, US 220, public bus, Amtrak, commercial airport
    • Federal, State, or Local Incentives that May Apply: Enterprise Zone and local incentives by project
  7. Master Plan Available for the Project Area? Find it here.
  8. Description of Potential Investment: Several sites primed for development or redevelopment along Franklin Road near the VTC campus, including the Ramada Inn. Underserved by retail development. Vacant or underutilized warehouses located along the eastern portion of this tract.
  9. Recent Investments: Fralin Biomedical Research Institute – $140 million, South 16 Apartments – $40 million, Carilion Center for Simulation, Research and Patient Safety – $5 million, Franklin Road Bridge Construction – $14.5 million

Downtown District

  1. Character: Thriving downtown with restaurants, office buildings, retail, and government offices. More than 2,500 downtown residents in multi-family developments. Adjacent to Opportunity Zone Census Tract 12.
  2. Opportunity Zone Census Tract #: 11
  3. Zoning: Downtown
  4. 30-Minute Drive Quick Facts (2019):
    • Total Population: 250,496
    • Population Growth 2010-2019: 3.53%
    • Population Per Square Mile: 637.3
    • Median Age: 43.4
    • Median Household Income: $55,060
    • Average Household Income: $75,452
    • HS Diploma or Higher: 88.6%
    • Bachelor’s or Higher: 29.7%
    • Total (NAICS11-19) Businesses: 9,722
    • Total Housing Units: 113,463
    • Owner Occupied Housing Units: 67,201
    • Median Home Value: $191,537
    • Average Home Value: $246,995
  5. Nearby Businesses: Hotel Roanoke and Conference Center, Taubman Museum of Art, Virginia Transportation Museum, Appalachian Electric Company Regional Headquarters, PowerSchool, City of Roanoke Administrative Offices, Poff Federal Building, Federal Bureau of Investigations, Internal Revenue Service, Elmwood Park, Roanoke Times, Center in the Square, City Market Building, Wells Fargo Tower, O. Winston Link Museum, Total Action for Progress (TAP), Al Pollard Culinary Arts Program, Roanoke Higher Education Center, Jefferson Center for the Performing Arts, GE Digital, Carilion Clinic Administrative Offices, Anthem Blue Cross Blue Shield Offices, Mast General Store, and major banks and law firms.
  6. Infrastructure:
    • Water and Wastewater: Western Virginia Water Authority
    • Natural Gas: Roanoke Gas
    • Electricity: Appalachian Power
    • Fiber: Total coverage by various providers
    • Transportation: I-581, US 460, public bus, Amtrak, commercial airport, garage and surface parking
    • Federal, State, or Local Incentives that May Apply: Enterprise Zone and local incentives by project
  7. Master Plan Available for the Project Area? Downtown is included in the City of Roanoke’s Vision 2001-2020 Comprehensive Plan. It will also be included in the 2020-2040 Plan being developed.
  8. Description of Potential Investment: Opportunities include mixed-use development; commercial, retail development; hotel and hospitality; residential, or specialized lab space
  9. Recent Investments: Regional Acceleration and Mentoring Program (RAMP) – $1.57 million; Downtown Hampton Inn & Suites Hotel – $17 million; Grammercy Row Apartment Homes and Commercial Space – $8 million; 301 Parkway Building (mixed-use) – $12 million; Lofts at West Station (mixed-use) – $35 million; Boxley Building (416 South Jefferson Street) – $2 million; Hotel Roanoke & Conference Center Renovation – $6.5 million. Hist:Re Partners – $25 million; Heironimus/401 Jefferson St. (mixed-use to include a Mast General Store) – $18 million; Pinnacle Bank/Williamson Rd. and Campbell Ave. – $1.2 million/cost of parcel (new headquarters and bank branch)

Contact

City of Roanoke Department of Economic Development