Jul 28 2005
Land Resource Companies announced its plans for development of nearly 4,300 acres in Fayette County during a press conference this morning at Smokey's on the Gorge.
The developer also announced that it has filed a request for change in land classification to the office of zoning enforcement of Fayette County. The master planned community has been named Roaring River. The event also included an announcement of findings from a recent study conducted by the Bureau of Business and Economic Research at West Virginia University.
Preliminary estimates from that study show a projected increase in beneficial tax revenues to the county and state of nearly $12 million over the course of the project. It is estimated that, locally, $1.9 million of new revenues will accrue to the Fayette County general fund through new property taxes paid by the future owners of the homes built at Roaring River. In terms of wages and compensation, this project is estimated to generate $120 million in new payroll for employees involved in helping build, operate, administer, and maintain the development at Roaring River. In total, the project is estimated to generate $1.1 billion of new economic activity for the county and surrounding region.
Assistant managing director for the Roaring River community and Fayette County resident, Tom Wagner also described the environmental benefits of the project and the application of environmentally friendly building practices to minimize impact on the air, wildlife, water sources and the landscape. The plans for Roaring River include a new water treatment facility, repairs and retrofitting of the existing landfill on the property and a state of the art run-off management system.
"Our efforts to protect and preserve the environment from further degradation began upon our acquisition of the property when we put an end to logging and we will preserve the land for generations to come," Wagner said.
"This is an incredible opportunity for both economic and environmental benefits for the residents of Fayette County and the surrounding region" said Wagner. "We will continue in our tradition of environmental stewardship and further demonstrate that economic development and environmental protection can go on together. "
An Atlanta-based company, Land Resource Companies has been developing unique waterfront and mountain communities since 1997. The properties offer a comfortable lifestyle choice while preserving the existing environment and history of the areas in which they are located. Land Resource Companies specializes in acquiring, developing and marketing residential communities located five to seven hours from a major population center.