Commercial Property Redevelopment

Commercial Property Redevelopment

One of the significant barriers Lemay businesses face is a lack of suitable commercial space. Most commercial space within Lemay is obsolete and does not meet the needs of 21st century businesses. LDC has taken an active role in trying to address this issue.

400 Lemay Ferry Road

In 2005, LDC received an Economic Development Initiative grant from the U.S Department of Housing and Urban Development (HUD) to spur economic development within the Lemay community. With that funding, LDC was able to acquire the property at 400 Lemay Ferry Road, do some initial site work and prepare the property for redevelopment by a local business. Due to LDC’s efforts—and the reduced development costs that resulted from those efforts—a local business was able to purchase the property and build a facility that met the business’s needs.  Furthermore, the development resulted in additional retail space that has since been occupied by three additional businesses.