Blacksburg's IMAX theater could mean more tax revenue - WSLS 10 NBC in Roanoke/Lynchburg Va

Blacksburg's IMAX theater could mean more tax revenue

Posted: Updated:
BLACKSBURG, VA -

9:38 p.m.

Blacksburg Town Council voted unanimously to rezone First & Main Shopping Center, so Cinebowl & IMAX can be built.

---

5:36 p.m.

An empty space is chalk full of potential in Blacksburg.  A vote tonight could have developers breaking ground on a new Imax, Cinebowl and Grille soon at the town's First and Main Shopping Center.

"We are hopefully going to have new customers, new connections coming in that will help increase sales," said Mark Shrader, who co-owns Bull and Bones Restaurant.

It is a place that's served as First and Main's anchor tenant for nearly five years. After Tuesday night's vote, which is to approve re-zoning,  Frank's Theaters will take that spot.

"All the shops here have helped out in many different ways in being anchor tenants, in being a destination.  Frank's is just going to add to that and it will add a regional pull for First and Main," said Shrader.

Town leaders say  in 2012, the complex's restaurants contributed around $325,000 in meals tax money and Bull and Bones contributed the most of that share. The developer's attorney claims in the past, when Frank's Theaters have opened in a new area, they have seen a significant increase in tax revenue.Town council member Krisha Chachra is the liaison between the town and the shopping center. She is hopeful the expected revenue increase will help pay for town improvements.

"Facilities such as you know the upgrading maybe of our Blacksburg Parks and Rec, a new Fire and Rescue station, maybe upgrading some of our trail systems and our green spaces. That all takes money and that money and those resources can come from new development," said Chachra.

Now if everything goes according to plan, this project is scheduled to be completed at the beginning of next year.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Sex offender arrested after being found at child day care center

    Sex offender arrested after being found at child day care center

    Thursday, April 17 2014 2:30 PM EDT2014-04-17 18:30:22 GMT
    A man whose record indicates he's a violent sex offender, has been arrested after being found at Shining Star Family Center on Williamson Road.Police say James Marion Floyd the 4th has been charged with being present on the property of a child day care center during business hours, and with two counts of failing to register his address as a violent sex offender. Police arrested him on Tuesday.Shining Star Family Center is a religious-based child care facility that also offers dance lessons an...
    A man whose record indicates he's a violent sex offender, has been arrested after being found at Shining Star Family Center on Williamson Road.Police say James Marion Floyd the 4th has been charged with being present on the property of a child day care center during business hours, and with two counts of failing to register his address as a violent sex offender. Police arrested him on Tuesday.Shining Star Family Center is a religious-based child care facility that also offers dance lessons an...
  • VA: Man will get warning instead of $525 citation for $.89 drink refill

    VA: Man will get warning instead of $525 citation for $.89 drink refill

    Thursday, April 17 2014 4:43 PM EDT2014-04-17 20:43:50 GMT
    Officials with the VA Medical Center in downtown Charleston say a North Charleston man who was initially federally charged with a $525 fine for an $.89 drink refill will instead be given a warning.
    Officials with the VA Medical Center in downtown Charleston say a North Charleston man who was initially federally charged with a $525 fine for an $.89 drink refill will instead be given a warning.
  • VCOM Makes a Difference

    VCOM Makes a Difference

    Thursday, April 17 2014 5:29 PM EDT2014-04-17 21:29:56 GMT
    The economy and rural communities are benefiting from more than 10 years since the first class began at the VCOM in Blacksburg. According to research from National Center for Rural Health Works, the total
    The economy and rural communities are benefiting from more than 10 years since the first class began at the VCOM in Blacksburg. According to research from National Center for Rural Health Works, the total VCOM economic impact for Virginia from June 2011 to June 2012 was $119,971,273. Here's a break down $1,312,650 in visitor spending $35,842,137 in student spending $
Powered by WorldNow

WSLS 10, P.O. Box 10
Roanoke, VA 24022-0010

Telephone: 540.981.9110
Fax: 540.343.3157
Email: news@wsls.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.