WILLIAMSBURG, Va. — What once was the Yankee Candle store in Williamsburg, is now turning into an upscale bowling and entertainment center.
The Williamsburg City Council voted unanimously on Thursday to award a revenue-sharing incentive to Uptown Alley, a family entertainment center that plans to open in 2023.
Uptown Alley will open at 2200 Richmond Road, the former Yankee Candle store. City council says the location will feature upscale bowling, duckpin bowling, an arcade, a chef-driven restaurant, and the latest in audio/video technology.
According to the press release, the awarded incentive is a performance-based revenue-sharing agreement.
It grants a percentage of the taxes that Uptown Alley will pay to the city over a five-year period. The incentive is capped at $600,000 and will be used for exterior improvements to modernize the building.
“With the current economic challenges, Uptown Alley is truly thankful for the support of Williamsburg, as they have been instrumental in helping us move this project forward,” Owner Steven Moore said. “We are excited to see how our partnership continues to grow.”
The City’s Economic Development Authority (EDA) will award the incentive to Uptown Alley over time, after the business pays its local sales and meals taxes. Officials say the local sales and meals tax return on investment to the city for the first five years of the business’ operations is estimated for more than $1 million.
“The incentive program the City of Williamsburg can provide to businesses is a win-win because it draws in new business, helps existing businesses expand, and provides new revenue to the city as those businesses grow,” EDA Chairman Adria Vanhoozier said. “This program allows the city to retain a portion of taxes that would not have been collected without the new business opening in our community.”
Williamsburg will be the fifth location for Uptown Alley. The other locations are in Chesterfield, VA; Manassas, VA; Surprise, AZ; and Changzhou, China.
“As part of our business recruitment efforts, the City continually studies trends to determine what is missing from the Williamsburg market,” Mayor Douglas Pons said. “Uptown Alley fills a need for more indoor entertainment options in the area. The owners are investing more than $12 million in the project, which will include renovations of one of the City’s largest commercial assets. We are pleased to welcome Uptown Alley to the Williamsburg business community.”
