Constructive steps in a poor economy
Published 10:55 pm Thursday, February 26, 2009
In the midst of a faltering economy, there are bright spots locally.
East Point Plaza, a renovation project centered on three East Washington Street buildings, eventually will contribute to the revitalization of a downtown corridor desperately in need of help. Set to open next month, the newly rebuilt Freedom Plaza shopping center, once a symbol of the April tornado’s devastation, will soon become a symbol of a community’s resilience. A new Comfort Suites hotel in North Suffolk has opened and a new Hilton Garden Inn nears completion in the same area — representing the optimism of developers who see that portion of the city as Hampton Roads’ new growth corridor.
Drive most anywhere in Suffolk, and you will see evidence of people taking economic risks in the midst of the recession — people who have a conviction that there is, or will be, light at the end of the tunnel. If you make that drive during weekday business hours, you are likely to find yourself in the midst of traffic, as the pace of commerce continues with little abatement.
Head west toward Holland and you will pass the area where CenterPoint Properties plans its huge intermodal shipping facility, where thousands of people are expected to find employment loading and unloading products headed to and from the Ports of Virginia. Despite the gloom-and-doom news of the recession, company officials feel confident about the future of their project in Suffolk and are moving ahead so they will be ready for the turnaround when it comes.
With state budget shortages and the federal government putting up more than a trillion dollars to bail out battered industries and to spur economic development, there’s plenty to worry about these days. Suffolk is fortunate, though, that some people have decided to face the crisis by pounding nails instead of chewing them.