Downtown Opportunity Analysis & Revitalization
Region 2 Planning and Development Council
Economic Strategy
The Region II Planning and Development Council (R2PDC) served as the lead client for a collaborative local team. The R2PDC is a council of governments in southwestern West Virginia. By collaborating and sharing resources, their goal is to optimize the administration of planning and development functions.
Like many downtowns, the downtown area of Huntington, WV, has faced challenges due to the COVID-19 pandemic and the ongoing transformation of retail activity. Huntington also faces demographic challenges, but as the home of Marshall University, it possesses unique advantages compared to other small cities.
Our Approach
Fourth Economy conducted a market analysis of the downtown area and local markets. We examined both commercial and housing development potential in the downtown area, and considered existing and potential development incentives. We worked with a steering committee of local and regional development groups, businesses, and Marshall University to conduct this analysis.
The Results
In addition to a narrative market opportunity report, Fourth Economy developed profiles for several key development sites that were produced in designed brochures and an interactive ESRI Story Map. The partners have begun to market the sites and are using the materials to generate interest. Since 2022, the city received the BUILD WV District designation from the state to enable it to pursue new housing developments. The designation offers a State Sales and Use Tax exemption for building materials, tangible personal property, and services by a construction contractor or subcontractor. It also provides a 10-year property value adjustment refundable tax credit to offset building costs. Eligible housing development projects must be located within a BUILD WV District and either generate approved costs over $3 million or include at least six residential units or houses.
Location
Huntington, WV