
USDOT: Applications Welcome for Innovative Finance and Asset Concession Grant Program
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New development plans underway for Roanoke Amtrak Station area
The City of Roanoke was awarded $770,000 from the United States Department of Transportation. The 3-year, $50 million program will help the city evaluate city-owned properties within a half-mile radius of the Amtrak Station. The goal is to bring community and economic development projects to the area, positioning the Amtrak station as a vibrant transit hub.Beginning this month, the city will put out a request for proposal (RFP) for consultants.
The City of Roanoke was awarded $770,000 after applying for USDOT’s Build America Bureau’s Innovative Finance and Asset Concession Grant Program (IFACGP). This 3-year, $50 million program will help the City of Roanoke evaluate city-owned properties within a half-mile radius of the Amtrak Station.
“People talk about it now like, oh, it’s so sad when you get off {the train}, so we want it to be a welcoming gateway,” said City of Roanoke Economic Development Specialist, Mandy Cribb.
Cribb said a lot of the properties surrounding the Amtrak Station are empty lots. The grant will be used to assess existing assets, identify opportunities to unlock their value, and explore innovative approaches to financing and delivery.
The goal is to bring community and economic development projects to the area, positioning the Amtrak Station as a vibrant transit hub.
“It could be affordable housing; it could be a grocery. So, I’m super excited about the project. It has huge potential to build up the area around that transit hub with assets for the community to improve the quality of life for everyone, but also more specifically people who rely on public transportation,” said Cribb.
Beginning this month, the City of Roanoke will put out a request for proposal (RFP) for consultants and ask for the community’s input on what they want to see in the area.
Roanoke is one of 45 local, regional, and state public entities selected to receive assistance through the program.
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