Multi-family development to be built on Fairmont riverfront near Palatine Park

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FAIRMONT W.Va. – Fairmont will soon be home to a new riverfront multi-family condo. The Riverfront Development Project was announced at Palatine Park on Thursday.

The project is a public and private development with a boardwalk, restaurant, retail spaces and a portion of the marina open to the public.

“Permanent residency, a destination point for visitors, will not only support this particular project, but the growth of everything around it. So, when you’re thinking about what are the first things that need to be done to promote growth and development… the pedestrian traffic, the destination location, the permanent residency… this project has it all,” said Shaun Petracce, real estate broker and developer.

Once the condos are pre-sold and the retail space is pre-leased by 75%, the development can take its next steps into financing and construction.

County Commissioner Randy Elliot said this project would create 100 new jobs and bring in more than half of a million dollars of property tax annually.

“I’m from this area, I’ve had this vision for a long time, so we’ve worked together to come up with a plan that seemed to make sense and went through several concepts to get to this point, and now, we have one that we believe will work. It’s exciting to propose projects, to that them to the market, but they have to come from the paper to the ground,” said Petracce.

Petracce, a Fairmont native, has been working on this project since 2013.

During the time of the announcement for the development, 23% of the condos had been pre-sold.

The development is intended to reflect the historic nature of downtown Fairmont with historic details like brick, stone and arches. There were many other options for a different design for the building, but the architects continuously returned to the historic theme to reflect the Fairmont environment.

Some of the challenges in this development included the small size of the site and the street that runs directly through the location. The design will allow the street to run through the parking garage, which makes it easily accessible for future residents. Architects from Pickering Associates designed the project.

There will be 52 condos and 240 parking spaces. The condos feature 2 or 3 bedroom options.

The restaurant will face the river with potential outside eating right on the water.

There is no other retail, living, and restaurant riverfront development like this in the area.

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