wmbghub.com

Category: Business

  • Williamsburg Local Business Health Check: Is Downtown Growing or Shrinking?

    Is downtown Williamsburg growing or shrinking? Based on current city-published updates, the near-term signal is measured growth: a new incentive-backed hospitality opening, an expanded farmers market season that increases recurring foot traffic, and ongoing city-led economic development touchpoints.

    1) New opening signal: Ricky’s Wine Bar at 501 Prince George St.

    The Williamsburg Economic Development Authority (EDA) voted unanimously on Jan. 21 to award up to $10,560 in a revenue-sharing incentive for Ricky’s Wine Bar, a new concept expected to open in spring 2026.

    City materials describe the incentive as performance-based, paid over time as a partial refund of local sales and meals taxes generated by the business. The city projects more than $180,000 in local sales and meals tax revenue over the first five years, and says the incentive is tied to outdoor improvements intended to support year-round patio use.

    2) Recurring foot-traffic signal: Farmers Market season expanded

    The City of Williamsburg announced the Williamsburg Farmers Market’s 2026 season now runs from February through December rather than pausing in winter months, creating more recurring market days downtown.

    The city reports the market averages about 40 vendors and has served between 1,000 and 1,500 people on a typical market day since 2002. For small businesses, this matters because higher repeat visitation can support nearby retail and food-and-beverage spend beyond the market block itself.

    3) Policy and pipeline signal: monthly EDA oversight continues

    The city says Williamsburg’s EDA meets the second Wednesday of each month at 3 p.m., and agenda/minute materials are published through CivicWeb. That cadence is important because it gives residents and business owners a reliable window into future incentive actions, business support priorities, and downtown investment direction.

    The city’s calendar also listed a Business Roundtable session in February, another marker of active local business engagement infrastructure.

    What this means for residents right now

    • Dining options: a new downtown wine-bar concept is in the pipeline for spring.
    • Street activity: more market-season weekends likely mean stronger daytime pedestrian traffic in core areas.
    • Tax base watch: performance-based incentives can be useful if projected local tax generation is realized and sustained.

    What we still need to measure to answer “growing or shrinking” with confidence

    Public announcements are useful, but they do not by themselves provide a full downtown balance sheet. For a complete health check, residents should also track business closures, vacancy/lease turnover, and year-over-year local tax collections by sector.

    We’ll continue this as a recurring “Business Health Check” series and add those indicators as they become available through local data releases and meeting records.

    Sources

  • Yorktown Victory YMCA expands: adds studios, child care, lobby by Dec 2025

    VICTORY FAMILY YMCA RENOVATIONS UNDERWAY

    Renovations are currently happening at the Victory Family YMCA in Yorktown.
    The two-part project includes an expanded lobby and welcome center.
    Three new group exercise studios are being added.
    New child watch and youth watch rooms are also part of the upgrade.
    For safety, the child and youth watch rooms are being moved to the rear of the building.
    Phase one focuses on the front wing, while the rear is scheduled for fall.
    Racquetball courts were removed to provide space for more child watch area.
    Members can use racquetball courts at nearby YMCA locations.
    A groundbreaking ceremony took place in early June with community and YMCA leaders.
    Speakers emphasized the community vision and expanding the YMCA’s mission.
    The expansion aims to serve more people through youth programming and wellness support.
    York County contributed $2 million for a generator so the building can be an emergency shelter.
    The project supports family wellness and strengthens the partnership with York County.
    The YMCA remains open during the renovation process.
    Construction is expected to be completed by December 2025.
    A ribbon-cutting ceremony is planned for January 2026.
    Updates on construction progress are available online.

    Source:

    Victory YMCA Renovations Underway in Yorktown

  • VA Home Sales Dip 0.6%, Prices Climb 3.5% in May 2025

    VIRGINIA HOME PRICES RISE DESPITE SLOW SALES

    Home sales activity in Virginia remained subdued in May 2025, marking the fourth consecutive month of decline.
    Closed sales were down 0.6% compared to the previous year.
    Despite lower sales, home prices continued to rise in most local markets.
    Virginia’s median sales price increased by 3.5% year-over-year to $440,000.
    Higher prices led to a 1.3% increase in total sold volume even with fewer transactions.
    Affordability concerns, particularly high prices and mortgage rates near 7%, are impacting buyers.
    Inventory saw significant growth, increasing over 30% from the previous year.
    The median days on market rose slightly to 10 days but remains relatively quick historically.
    Economic uncertainty is also making some potential buyers hesitant.

    Source:

    Report: Virginia Home Prices Continue Rising Despite Sluggish Sales Activity

  • Victory YMCA renovations underway in Yorktown, add space, generator, finish 2025

    VICTORY FAMILY YMCA UNDERGOING RENOVATIONS

    RENOVATIONS ARE UNDERWAY AT THE VICTORY FAMILY YMCA IN YORKTOWN.
    THE PROJECT IS A TWO-PART RENOVATION.
    IT WILL ADD AN EXPANDED LOBBY AND WELCOME CENTER.
    THREE NEW GROUP EXERCISE STUDIOS ARE INCLUDED IN THE PLANS.
    NEW CHILD WATCH AND YOUTH WATCH ROOMS ARE BEING ADDED AND RELOCATED.
    THE RELOCATION TO THE REAR OF THE BUILDING PROVIDES A SECURE ENTRANCE FOR SAFETY.
    RACQUETBALL COURTS WERE ELIMINATED TO MAKE ROOM FOR THE EXPANDED CHILD WATCH SPACE.
    YORK COUNTY CONTRIBUTED $2 MILLION FOR A GENERATOR TO ALLOW EMERGENCY SHELTER USE.
    THE YMCA REMAINS OPEN DURING THE CONSTRUCTION PERIOD.
    COMPLETION IS ESTIMATED FOR DECEMBER 2025.
    A RIBBON-CUTTING CEREMONY IS PLANNED FOR JANUARY 2026.

    Source:

    Victory YMCA Renovations Underway in Yorktown

  • VA Home Prices Up 3.5% as Sales Dip 0.6% in May 2025 Report

    VIRGINIA HOME PRICES CLIMB AMID SLOWING SALES

    Virginia home sales activity remained subdued in May 2025.
    Sales declined for the fourth month in a row, down 0.6% year-over-year.
    Despite fewer sales, home prices continued to rise in most markets.
    The median home price increased 3.5% to $440,000.
    Increased inventory saw active listings jump over 30%.
    Homes are taking slightly longer to sell, but still move quickly historically.
    Affordability concerns and mortgage rates are keeping some buyers on the sidelines.

    Source:

    Report: Virginia Home Prices Continue Rising Despite Sluggish Sales Activity

  • Peninsula Median Home Price Hits Record High of $350K in May 2025

    PENINSULA HOUSING MARKET HITS RECORD MEDIAN PRICE

    The median selling price of homes on the Peninsula reached a record high of $350,000 in May.

    This record was set despite a slight decrease in the total number of homes sold compared to last year.

    Active residential listings totaled 1,409, the most seen in nearly five years.

    Increased inventory means buyers have significantly more selection than in recent years.

    The Month’s Supply of Inventory (MSI) reached 2.51, the highest in many years, but still favors sellers over a balanced market.

    Median days on market increased slightly year-over-year to 19 days.

    Source:

    Peninsula Sets Record High Median Selling Price in May

  • Williamsburg Business News: Restaurant, Patriots Colony, Escape Room

    A new Filipino takeout restaurant, Pika-Filipino Cravings, owned by Cesar and Neryn Reyes, is anticipated to open in July at 5242 Olde Towne Road, offering comfort food, all-day breakfast, and baked goods. Riverside Patriots Colony at Williamsburg broke ground on June 18 for a new 43,500-square-foot skilled nursing and long-term care facility with 52 private rooms, expected to open in late 2026. Escapology, the world’s largest escape room franchise, has leased space at 5114 and 5116 Main St. in New Town and plans to open soon with seven private escape rooms. Sly Clyde Poolside café and taproom is now open daily at 201 Georgetown Crescent. Eleva Coffee Lounge at 111 S. Boundary St. is launching a live podcast-style book program featuring local authors, with the first event on June 27. Panda Express is hiring for its upcoming summer opening at 6632 Mooretown Road. Big Lots at 6610 Mooretown Road is anticipated to reopen this month under new owner Variety Wholesalers. Two Maids of Williamsburg leased 1,400 square feet of industrial space at Yorktown Commerce Center in York County.

  • Spring Bloom Adventure Race boosts Williamsburg area economy by $660k+, aids nonprofits

    SPRING BLOOM ADVENTURE RACE BOOSTS WILLIAMSBURG ECONOMY AND NONPROFITS

    The recent Spring Bloom Adventure Race generated over $660,000 in economic impact for the Williamsburg area.
    The event also raised over $5,000 which was donated to local nonprofit organizations.
    Visit Williamsburg stated the race highlighted the growing importance of sports tourism in the Historic Triangle.
    Over 400 participants competed in the 69-mile race, with many traveling from out of state.
    Participants praised the challenging course and the efficient coordination by staff and volunteers.
    Donations from the race benefited the Eastern Virginia Mountain Bike Association and Girl Scout Troop 90088.
    Visit Williamsburg believes events like this show the region can host competitive and community-driven experiences.
    The upcoming Williamsburg Sports and Events Center in 2026 is anticipated to further attract sports tourism.

    Source:

    Visit Williamsburg: Spring Bloom Adventure Race Makes Positive Economic Impact, Aids Local Nonprofits

  • 197 VA tourism programs get $2M+ matching marketing grants thru 2026

    VIRGINIA INVESTS OVER $2 MILLION IN LOCAL TOURISM MARKETING

    Virginia Governor Glenn Youngkin announced over $2 million in state matching grants for 197 local tourism programs.
    The funds are from the Virginia Tourism Corporation through the Marketing Leverage Program, DMO Grant Program, and VA250 Tourism Marketing Program.
    The grants aim to increase visitation and traveler spending across the commonwealth through 2026.
    Local partners will match the state funds with over $2.74 million for a total marketing investment exceeding $4.76 million.
    This public-private effort is expected to benefit 1,130 small businesses and nonprofits statewide.
    The initiative supports economic opportunity, job creation, and strengthens Virginia as a premier travel destination.
    The programs leverage existing marketing funds and extend the “Virginia is for Lovers” brand.
    Additional grant opportunities are planned through 2025 and 2026.

    Source:

    Local Tourism Programs to Receive Public-Private Marketing Funds Through 2026

  • Sen. Kaine tours new Yorktown Marine barracks, discusses housing

    SENATOR KAINE VISITS NEW MARINE BARRACKS

    Senator Tim Kaine toured the newly opened Marine Corps barracks at Naval Weapons Station Yorktown.
    This was the first dignitary visit to the facility, which opened in late 2023.
    The new barracks houses over 200 Marines in double-occupancy rooms with private bathrooms.
    The facility includes amenities like a kitchen, laundry, recreation space, classrooms, and a lounge.
    Kaine stressed that quality housing is vital for military retention and mental health.
    He noted the need for similar barracks improvements across all military branches and locations.
    Kaine also received a briefing and dined with Marines during his visit.

    Source:

    Sen. Kaine Visits New Marine Barracks Aboard Naval Weapons Station Yorktown