A big advancement for the state’s eye health is on the horizon in Morgantown. On Friday, WVU Medicine broke ground on a new $233 million Eye Institute. The new WVU Eye Institute is being built at the intersection of Van Voorhis Road and Elmer Prince Drive near the entrance to WVU Medicine J.W. Ruby Memorial Hospital and is expected to take 30 months to complete. This is an exciting project for Morgantown, and the Mountain State as a whole, with the potential to improve the quality of life for West Virginians. Those connected with the project believe the new WVU Eye Institute will “aid in the recruitment of more providers, the expansion of services, a better response to patient needs, the accommodation of more trainees and the expansion of clinical research into new treatments for eye diseases”.
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A new project undertaken by Visit Mountaineer Country Convention and Visitors Bureau (VMC) seeks to make North Central West Virginia a leader in outdoor tourism. The goal of the project, named Mountaineer Gravel, is to transform the region into a premier destination for gravel cycling and outdoor adventure. The ambitious undertaking is a collaboration between a number of groups, including experts such as David Landis, owner of Village-to-Village Trails (V2V Trails), West Virginia University’s Brad and Alys Smith Outdoor Economic Development Collaborative (OEDC), and numerous local trail and outdoor recreation partners. So far, the project consists of 28 world-class mixed surface cycling trails that span across 1,000 miles of public property in North Central West Virginia. It has been meticulously designed and curated with input from experts in the world of gravel cycling. Some of the impressive features of the Mountaineer Gravel project include GPS mapping through the Ride with GPS platform and seven designated regional hubs to provide lodging, dining, and other tourist attractions. Future initiatives include a bikepacking race in 2025 and sponsorship of the West Virginia Gravel Series.
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To combat ongoing inflation and concerns of future inflation that could be fueled by incoming President Donald Trump’s policies, the Fed has indicated they will cut rates more slowly in 2025 than initially planned. Fed policymakers now predict two rate cuts to take place in 2025, not the four that they originally suggested would occur. Borrowers may be disappointed with the reduced number of rate cuts, but any rate cut still has potential to reduce mortgage rates. Mortgage rates are driven by market outlook, and a cut by the Fed can put downward pressure on mortgage rates. The Fed is designed to pivot quickly in relation to quick economic upturns or downturns. For now they are taking a wait-and-see approach, and the next rate cut may not occur until March or later.
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The second largest airsoft field in America will soon be opening in Clarksburg, thanks to a deal brokered by Black Diamond. Ohio-based airsoft company, MK Airsoft, will be opening a 72,000 square foot facility at 624 Armory Road in Clarksburg. Renovations have already begun on the facility, and the company’s Facebook page says they expect to open in January 2025. You can learn more about airsoft on the company’s website and follow along for updates on the 624 Armory Road Airsoft Field on its Facebook page.
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West Virginia’s Gov. Justice announced Prime 6 will be locating its new manufacturing facility in Marion County. The project is a $35 million investment and expected to create 75-100 jobs. First garnering attention on Shark Tank, Prime 6 is an innovative, sustainable company that upcycles wood waste into high-quality products. There will be two events in Fairmont on Friday, November 22nd to celebrate the announcement. A groundbreaking will take place at 10:30 a.m. and a Community Town Hall will be at 5. Gov. Justice, Prime 6 leadership and local officials will be attending the groundbreaking, and the Shark Tank film crew will be filming the event. Kevin O’Leary of Shark Tank will be at both events.
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1111 University Avenue in Morgantown, the building that has housed the Bartlett House emergency shelter for close to four decades, is likely being demolished. The city of Morgantown has taken bids from contractors to demolish the building. The 11,340 square foot property is owned by Bartlett House Inc. and brokered for sale with Black Diamond. In addition to the probable demolition of the Bartlett House, Bartlett Housing Solutions has also relinquished control of its emergency triage shelter and transitional and permanent supportive housing units due to lack of funding. In July, Morgantown City Council and the Monongalia County Commission approved $150,000 to allow Catholic Charities West Virginia to take over operation of the triage shelter. The West Virginia Coalition to End Homelessness has taken over responsibility of the Bartlett House’s transitional and supportive housing properties.
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WVU researchers have invented a Zillow-like software for developers to find property in southern West Virginia’s coalfields. Over 4,500 former mine lands exist in the southern counties of West Virginia, and the researchers have organized them into a searchable, interactive database similar to Zillow, Airbnb, and VRBO. The goal of the project is to encourage development opportunities on the former mine lands, ultimately repurposing them and creating jobs. The project is a collaboration between WVU, Coalfield Development Corporation, and The Nature Conservancy. It is part of a comprehensive project called “Appalachian Climate Technology Now,” which received funding from the U.S. Economic Development Administration as part of the Build Back Better Regional Challenge Grant.
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The Monongalia County Commission has rezoned 659 McCullough Avenue from R-2 (neighborhood density residential) to R-4 (high density residential). This amendment to the West Run Planning District zoning map coincides with Metro Properties’ plan to construct 30 townhomes in the area. For the Metro Properties project to move forward, the Monongalia County Planning Commission has laid out conditions for the developer to meet primarily related to stormwater management and street access.
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The DOH expects construction to begin late this year or next spring on a new bridge that will go over the Monongahela River and take traffic to the Morgantown Industrial Park. The contract for the proposed bridge, an interim option while the proposed Harmony Grove interchange off I-79 moves through the approval process, was awarded to the lowest bidder, St. Albans contractor, Triton Construction. The bridge access would come off U.S. 119/Grafton Road in the vicinity between Scott Avenue and the Glotfelty Tire Center, cross the river and connect to Morgantown Industrial Park via Rail Street.
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The Federal Reserve made a big economic move today, cutting interest rates for the first time since 2020. The bank lowered its benchmark interest rate by half a percentage point, a move that has the potential to help borrowers and spur economic growth.
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Prime 6, a company that manufactures wood-based charcoal alternatives, is making a big investment in West Virginia. The company plans to invest $35 million in the mountain state by creating a manufacturing facility in Upshur County. The manufacturing facility will bring 75 jobs to the area and is expected to have a positive ripple effect on the local economy.
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Earlier this year, West Virginia Governor Jim Justice announced a partnership between the state of WV and LG Electronics to grow business, add jobs and advance technologies related to “renewable energy, health care and industries of the future”. LG is used to these types of public/private partnerships and saw an opportunity in the Mountain State. Over the next five years, the South Korean-based electronics giant plans to provide 275 high-skill jobs in the state through the creation of several businesses, including “construct[ing] both a research and development and an engineering hub within the state that will hire software engineers, architects and developers”.
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We work hard for our clients, and it’s great to be recognized for it! Black Diamond Realty has been voted best Commercial Real Estate Agent in Mountaineer Country 2024. We are honored we get to serve our community and clients with our commercial real estate expertise.
Thank you, Mountaineer Country!
Improvements may be coming to the Morgantown Industrial Park. The Senate Appropriations Committee has sent forth a bill to the Senate that includes $26 million earmarked for the Morgantown Industrial Park bridge and access road project. The funding, requested by West Virginia Senator Shelley Moore Capito, would be used to design a road, a bridge over the Monongahela River and improve some of the existing infrastructure. Capito sees the project’s completion as vital to the Morgantown community, stating, “. . .this is a major development and a highly encouraging one”.
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