The Town of Vinton has issued a proposal for bids to interested developers to develop the 10.6-
acre McGimsey property for a high-density or mixed-density residential housing project. The
land tract extends from behind River Park Shopping Center towards the downtown area adjacent
to the Mansard Square Apartments.
area adjacent to the Mansard Square Apartments. (graphics courtesy Town of Vinton)
Expanding housing options in the town is one focus of the recently signed Vinton
Comprehensive Plan (from 2025-2050) and the Strategic Plan for the next five years— investing
in quality housing for all phases of life. A housing survey completed in 2023 by the town shows
the area is ripe for the opportunity for housing and within the growth corridor. The McGimsey
property is one of a few undeveloped tracts remaining within town limits.
in Vinton.
Property details include:
• 118 residential units under current zoning, or 239 dwelling units/acre with a Special Use
Permit
• The site has multiple potential access points and is at a signalized intersection on
Washington Ave.nue It is close to Explore Park, the Blue Ridge Parkway, and the
downtown Vinton Central Business District
• Completed engineering studies from Brownfields grants the town received include a
Phase 1 ESA, cultural resources review, threatened and endangered species review,
wetlands/stream evaluation and delineation report, boundary survey and geophysical
evaluation— all available by request
The town will choose a developer based on:
• A development plan for the property to include number and type of potential units,
amenities and unique development features
• Proposed terms of the acquisition, including offer amount and timeline for completion
• Business Plan and Financial Plan, including project benefits to the town
Evaluations and award of proposals will be made based upon the following criteria:
• Their proposed investment and development concept
• Value-added benefits to the town
• Proposed compatibility with the Town of Vinton zoning, land use and comprehensive
plan
• Return on investment, density of development, proposed access points, job creation and
revenue generation from the project
Proposals are due on April 30. The town reserves the right to extend the response deadline for an
additional 30 days and reject all proposals without cause.
According to Vinton Town Manager Pete Peters, “The town has been working on this project for
approximately a year. Our goal is not to buy directly, but to get an interested developer to pursue
a housing project and assume the town’s ‘Option to Purchase.’ This has been a successful model
for us in the past and we have completed much of the environmental and feasibility portion of
the project utilizing our EPA Brownfields grant. We are optimistic we’ve adequately identified
this site for development to help meet the housing needs of the valley.”
