Stafford County will no longer have the extension of Corporate Drive on its to-do list.
The county will hold a public hearing regarding the transfer of 12 acres of land within the Quantico Corporate Center in the northern section of the county near the Quantico Marine Corps Base’s rear entrance.
Stafford purchased the property on which the corporate center sits in July 2013. It had the intention of developing the land into a research and development park.
A significant requirement of the deal involved extending Corporate Drive to Telegraph Road, making it easier to access the property.
However, as the years have passed with no extension of Corporate Drive, the county decided it would seek other economic development opportunities, says county government spokeswoman Shannon Eubanks.
After shifting its focus to instead developing a new smart city around its iconic courthouse, Stafford sent out feelers to developers in 2019 to see if there was any interest from private developers to purchase the 12 acres of property at the Corporate Center.
Blue Diamond Investments LLC, a financial services and asset management firm based in North Carolina, will be the recipient of the transfer. As part of the agreement, the management firm will extend Corporate Drive connecting it to Telegraph Road, saving county taxpayers $3.2 million in funding that would have gone to complete the extension
According to county documents, there have been several requests from businesses within the Quantico Corporate Center to complete the road in order to further encourage economic development with the center.