HAMPTON, Va. (WAVY) — For the first time since the U.S. Army left Fort Monroe, a major redevelopment project is moving forward.
Friday, contractors hired by Echelon Resources, Inc., had the doors of Randolph Hall wide open as they began their work to convert the three-story 1932-built barracks into 40 luxury apartments overlooking Mill Creek.
The building is the first of two the Richmond-based developer plans to rehabilitate. The other is known by Fort Monroe Authority staff as the “old hundred” building. The 1906 structure further south on Ingalls Road will be home to 38 studio, one- and two-bedroom apartments.
The new living units will join the 170 residences already on the former Army base sometime in 2026.
John Hutcheson, the authority’s chief operating officer and chief financial officer, said in this case, the buildings haven’t been used as living quarters for decades.
“We’ve had people lease buildings before, but in terms of these adaptive reuse to take a large historic building and convert it to a new use, these are the first one,” Huchenson said.
The state-controlled authority has 529 acres of former Army base and 300,000 square feet of vacant space they have had to maintain.
Many of the buildings are approaching or are already more than 100 years old. Hutchenson said taxpayers are currently paying around $2 million per year to heat, cool and keep utilities connected.
In 2019, a request for proposals for the redevelopment of 14 buildings that sit on four different sections of the property was sent out.
Echelon was the first group to be able to make the financing work, Hutchenson said.
“There’s a historic tax credit program that allows developers to get a tax credit for investing in what’s called adaptive reuse,” Hutchenson said. “And so we’ve had developers from all over the country that proposed, and the developer that was selected has done work throughout the Mid-Atlantic, and we visited some of their sites and decided they were the best partner for us in this building.”
Echelon also redeveloped the former Suffolk Peanut Company plant in downtown Suffolk.
Echelon will pay $1 per year for 50 years for each lease, according to Hutchenson. In turn, they will provide private capital to renovate the buildings and pay real estate taxes.
“We’re proud to partner with the Fort Monroe Authority on a project of such significance,” said Edwin Gaskins, president of Echelon Resources. “Fort Monroe Lofts embodies our passion for preserving history while creating meaningful places for people to live. This site is unmatched in both story and setting.”
The “lofts” will offer residents in-unit laundry, high-speed internet and on-site parking when completed. The deal between Echelon and the Fort includes rights to redevelop two other buildings in the future.
“We kind of feel like we’re just off the launch pad now,” Hutchenson said. “And so these will provide residential units for the community. They’re open to anybody. …. It helps us bring people to Fort Monroe, revitalize Fort Monroe, create the community of Fort Monroe. So we’re really excited. This has been a long-time coming, so we’re really excited about this one.”