SMITHFIELD, Va. — Smithfield Town Council decided on Tuesday to buy out property intended for a major development from Little Super Market Property, LLC.
After coordinating with LSMP, LLC for the past five years, including on mixed-use development project “The Grange at 10 Main,” Smithfield entered a purchase agreement of $6.5 million for 20 parcels that make up the property.
In a press release, the Town of Smithfield said council determined town ownership would give the property the best opportunity to be developed in a way that will serve the citizens now and into the future.
Watch previous coverage:
After closing the purchase, the council will take on a master planning process which will include public input to decide how to use the property. Town Council says uses that are being considered are a new municipal building, farmer's market, public green/park spaces, and other commercial and municipal uses.
“The Town looks forward to working with a range of stakeholders to ensure that this project is one that adds to the charm of Smithfield and stands as a legacy for generations to come,” said the Town of Smithfield in a press release.
