Local developer Keith Woodard has expanded his empire, buying the former Virginia Work Force building at 400 Preston Avenue from the Commonwealth of Virginia for just over $3 million.
“We feel that the purchase and renovation of 400 Preston Avenue gives us the opportunity to contribute to and be part of the continuing revitalization of the Downtown Mall,” says Keith Woodard in a press release. “Our plans to improve the site take into consideration that the building’s location at the intersection of Ridge/McIntire and Preston/Market Streets anchors two important gateways to downtown.”
The site was once part of the African-American neighborhood of Vinegar Hill before it was scrubbed out of existence by “urban renewal.” It is positioned between development projects—a nine story building slated for the Ridge/McIntire/West Main intersection, renovations to the King Lumber building up Preston Avenue, and the continual activity on the Downtown Mall—and will eventually be fed by the Meadowcreek Parkway.
Woodard, who owns a great deal of residential rental property around the city, recently put off dreams of redeveloping four buildings on the Downtown Mall.