New Markets Tax Credit Coalition

Search

Revitalization of the Shenandoah Hotel

The former Shenandoah Hotel was transformed into a vibrant mixed-use space in the heart of the Martinsburg Main Street.

Investment

  • NMTC Amount: $2,000,000
  • Total Project Cost: $8,370,000

IMPACT

  • 40 FTE jobs
  • 57 construction jobs
  • Provides space for small business graduates of a local incubator
  • 53,269 sq. ft. of real estate

Investor

Project Description

The project saw the former Shenandoah Hotel transformed into a vibrant mixed-use space in the heart of Martinsburg Main Street. This is the fourth project in NTCIC’s Irvin Henderson Main Street Revitalization Fund.

The historic building was revitalized into 38 residential units and 16,000 sq. ft. of commercial space. Ten thousand sq. ft. on the ground floor was created to house multiple tenants, with a focus on small businesses graduating from a nearby incubator, as well as restaurant space. The basement includes 6,000 sq. ft., which will likely support a commercial/retail operation and a yoga studio/gym.

MAP

Address: 100 West Martin Street, Martinsburg, WV 25401

Census Tract: 54003971600

PDF Profile

Other West Virginia Projects

The borrower was seeking funding for the purchase and installation of a software system used across the entirety of their parent institution.

The former Calhoun High School is being renovated as a Community Center. They will offer a daycare as well addiction support meetings. Up to 50 children will attend the daycare

NMTC brings first new commercial or residential development in the community in 50 years to Welch, WV.
Rural Development Partners and the National Development Council used the NMTC to help West Virginia Great Barrel Company (WVGBC) construct a new barrel manufacturing facility in White Sulphur Springs, WV.