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Wheeling, WV (2003)

Wheeling Stamping Building

Rehab of the Wheeling Stamping Building in Wheeling, West Virginia, a 94,000 sq. ft. brick warehouse.

Investment

  • NMTC Amount: $1,061,833
  • Total Project Cost: $9,931,896

IMPACT

  • 225 FTE jobs
  • 300 construction jobs
  • Rehabilitation of a vacant or under-utilized historic structure.
  • 94,000 sq. ft. of real estate

Investor

Project Description

The Wheeling Stamping Building in Wheeling, West Virginia, a 94,000 sq. ft. brick warehouse, was built in 1890 to house a metal stamping industry. Its proximity to Pennsylvania, Maryland, Ohio, and Kentucky helped fuel the booming growth of the Ohio Valley at the turn of the century. The Ohio Valley Industrial and Business Development Corporation recognized the potential for the adaptive reuse of the local landmark and rescued it from an extended period of vacancy and neglect. Following an $11.2 million certified historic rehabilitation, the property now serves as the global operations center for a multinational law firm.

To prepare for this new use, the existing roof supports were replaced, steel and wood windows were repaired, and code-compliant elevators and stairs were installed along with new electrical, HVAC, and mechanical systems. In its new role, the Wheeling Stamping Building infuses important new revenue into the city and county, provided an estimated 300 construction jobs, and is expected to provide 225 mid-level management jobs to the area. The average salary of a new employee is $37,000 per year as compared to the City median of $25,000 per year. This low-income community meets 3 additional distress criteria–unemployment is 1.9 times the national average, and it is a designated SBAHub Zone and a medically underserved area.

MAP

Address: 2121 Main Street, Wheeling, WV 26003

Census Tract: 54069002700

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