Business Cycle: Radford awaits news on intersection development

Mark Williams, co-owner of Price-Williams Realty in Radford, confirmed he is involved with the cleared-off land at Tyler Avenue and East Main Street. As for what’s going to happen next, he wasn’t ready to share.

The real estate belongs to East Radford Development 1001 LLC, which has the same address as Price-Williams Realty. Williams said East Radford Development bought it as a possible future site for the realty office but company officials later decided to keep the office where it is. The company next considered the site’s suitability for a boutique hotel, but set that concept aside in light of construction of The Highlander hotel and conference center up in the street, Williams said.

In the latest development, the company was contacted by a party interested in buying the real estate, according to Williams, who declined to identify the other party. He said no decision has been made but that talks continue.

Radford Mayor David Horton said he believes the site “may be open space and some parking for the time being. But long term there may be some additional development.”

He called the removal of the buildings a major step forward in an ongoing revitalization of East Main Street. Residents would like to see the property returned to productive use “after so many years of sitting vacant. The properties that were there were not really functional for the community for at least a dozen or more years,” Horton said.

Horton said he thinks the half-acre property “would be attractive” to Radford University or to a private business. Asked if he knows who Williams’ firm is talking to, Horton said he couldn’t say. He referred a reporter to the university administration, which did not respond to a request for comment by press time.

Radford University a few months ago announced an off-campus investment in a former bank building on the same segment of East Main Street. It is the future home of a business incubator to be called The Hub and a workforce training site, officials have said. The East Radford Development lot is across the street.