Poplar Hill Secures $77 Million Investment
Reprinted from the Southside Messenger
By Samuel Hunter - Friday, July 13, 2007 12:00 PM EDT
Prince Edward County is 356 square miles in size and functions as the service hub for commercial, retail, medical and hospital facilities, as well as industries for an eight-county region with a service market of more than 100,000 people. It is located in "Virginia's Heartland," at the crossroads of U. S. 460 and U. S. 15, two of Virginia's primary east-west and north-south transportation corridors, which provides direct access to four interstate highway systems: I-95, I-85, I-81 and I-64. According to Census Bureau estimates for 2005, there were approximately 6,819 households totaling about 20, 455 people residing throughout the county.
In early June, plans for the Poplar Hill Golf Club, which has been a topic of much discussion for many in the Prince Edward area, were settled. This week, Herberton Group and Poplar Hill Holdings LLC announced plans for a $77 million development to transform the 1,020 acres into a multi-use recreational facility that will likely boost the economy of Prince Edward County and surrounding region.
Poplar Hill Golf Club is located south of Farmville on U.S. Route 15 and has been in operation since June 15, 2006.
"We are delighted to have been able to partner with Prince Edward County, the Poplar Hill Community Development Authority, Hampden-Sydney College, Longwood University, the Town of Farmville, and local sponsors to enable such an extraordinary development for the community," said Michael Heffernan, Managing Partner, Herberton Group and Poplar Hill Holdings.
"A mixture of private and public equity investment has allowed us to create a formula that will spark economic growth and devel opment. We are now in the fundamental stages but are here for the long term and working to build a lasting legacy for Southside Virginia and Prince Edward County."
Heffernan projects that the new development could generate more than $47 million in taxes for Prince Edward County over the next 25 years and is expected to create 180 jobs, ranging from grounds crews to event planners.
According to Sharon Carney, Prince Edward Economic Development Director, "Prince Edward County will contribute $4.5 million over a span of 22 years and all contributions are incentive based. If they don't do this they don't get that type deal. It is my understanding that a substantial amount of funding is coming from European investors which is not only new money to Prince Edward and Virginia but the United States. This is a private industry and no sate money has been invested."
Virginia Governor Tim Kaine has described the project as an excellent example of successful collaboration. "Public and private partners including Hampden-Sydney College, Longwood University, Prince Edward County, the Town
The Manor Resort, Spa and Residential Estate was announced to the public on July 10, 2007, by Virginia Governor Timothy M. Kaine, who said, “This project is an excellent example of successful collaboration. Public and private partners include Hampden-Sydney College, Longwood University, Prince Edward County, the Town of Farmville and the developer.”
The Manor Resort, Spa and Residential Estate—formerly Poplar Hill Golf Course—is so named to honor local and regional history and tradition while simultaneously showcasing the Manor House (formerly the manor of Poplar Hill Farm) that, when restored, will become the centerpiece of the new community.
“The Manor House is an extraordinary 19th century mansion, and it’s centrally located in our site plans,” said Michael Heffernan, managing partner of Herberton Prince Edward Development, LLC. “With so many Poplar Hill communities across the U.S., it became necessary to develop a brand name and image that more thoughtfully evokes the property’s history and the new community’s physical presence, amenities and lifestyle profile.”
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