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The Economic Development Authority unanimously approved Resolution No. 26-06, authorizing its chair to execute an agreement with 2300 Fall Hill Partners, LLC and the City of Fredericksburg for redevelopment of the former Mary Washington Hospital property. The agreement includes revised affordability targets, with most units expected to become available around the anticipated Q4 2028 certification.
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The redevelopment agreement advances plans to reuse the former hospital property and includes incentives tied to affordability for public-sector employees, among others. The project is in site plan review and historic tax credit due diligence, with most units expected to come online around Q4 2028. The EDA also approved $30,000 to establish the Serve and Stay Fredericksburg Fund, a workforce housing initiative intended to support recruitment of teachers, police officers, and firefighters, with a launch anticipated by the end of June.
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