May 24, 2023, News Release
ALBEMARLE COUNTY, VA – Today, the Board of Supervisors voted to accept an assignment of a contract for Albemarle County to acquire 462 acres of property along Route 29 North adjacent to Rivanna Station, a sub-installation of Fort Belvoir and home to several defense intelligence agencies of the federal government, at a purchase price of $58 million.
“The vision for this purchase is to solidify the long-term vibrancy of Rivanna Station in Albemarle. This project, Rivanna Station Futures, allows us to remain attractive to the Station, the anchor for the defense sector in our community, and provides opportunities for private sector and academic partners to take part in shaping the future vibrancy of the sector,” Chair Donna Price said. “A key piece of Rivanna Station Futures is the establishment of an Intelligence Community Innovation Acceleration Campus, a place for public sector organizations, private sector businesses, and academic institutions to work together to co-create solutions to the biggest challenges facing our nation and the world.”
In 2017, the Virginia Secretary of Veterans and Defense Affairs and key stakeholders initiated a study to plan for Rivanna Station’s future, which included an expansion beyond the existing landholdings of the US Department of Defense. The County identified the opportunity to provide business retention and expansion services, aligned with Project ENABLE, Albemarle County’s economic development strategic plan.
“We know this project is a generational investment in our community’s vibrancy – and we believe that our success in public-private partnerships will continue – that we’ll leverage our public investment to bring returns in the form of private investment to build out this site,” Interim Economic Development Director J.T. Newberry said.
A recent Defense Sector Economic Impact report from the Weldon Cooper Center shows that the defense sector generates $1.2 billion of economic activity in the Albemarle-Charlottesville-Greene region each year – making it the second largest sector in the local economy.
Similar to a capital improvement project, the funding source for this investment will be bond proceeds. On June 7, the Board will receive a staff presentation detailing the financing and site due diligence process- which will take place over the course of the next several months. On June 21, the Board will hold a public hearing ahead of the acquisition closing.
“Site control is the first step on the critical path forward to secure Rivanna Station’s interest in our community. The work ahead is to bring partners to the table to make this vision of the Intelligence Community Innovation Acceleration Campus a reality.” Deputy County Executive Trevor Henry said. County staff will continue to work on partner development over the next several months.
“In 2017, the Board of Supervisors adopted the County’s first economic development strategic plan, with a focus on creating positive momentum in partnership with the broader community and developing site readiness strategies. Since then, Albemarle County has demonstrated our success by building public-private partnerships. Today’s action is an example of aligning our financial resources to our strategic plan, in partnership with key durable partners to support our community’s vibrancy. I congratulate the Board of Supervisors on their leadership and the staff who have worked tirelessly on this project,” stated County Executive Jeff Richardson.
