Plans are underway for a $5 million TripStop travel center in Radford that is expected to create jobs and increase economic activity for a city working to improve its fiscal situation.
At an announcement held inside the municipal building because of the morning weather, city officials said the TripStop will be located on 3 acres at Exit 105 of Interstate 81.
TripStop is a family-owned convenience and travel-stop brand with more than 30 locations across Virginia, North Carolina and South Carolina. The project is estimated to create between 25 to 40 new jobs.
“We see this as being a huge investment at one of the most important gateways in the city of Radford, which is exit 105,” city Economic Development Director Kim Repass said. “We met with several different companies that were interested in locating there and TripStop and their brand was the perfect set for us.”
Beyond gas and substantial parking, the travel center will include two quick service restaurants, a second level patio overlooking the river and I-81, and showers, according to Sagar Patadia, TripStop vice president of retail operations. He was present at the announcement along with his brother, Teju Patadia, who serves as president of TripStop.
“So our sister went to Radford [University]. She’s still part of the company and we always wanted to be back in the area,” Sagar Patadia said.
“Honestly, when we saw the property, it was a no-brainer. We couldn’t believe that it has been sitting vacant for so long,” Teju Patadia said.
Radford, deemed in fiscal distress by the State Auditor of Public Accounts, has taken steps this year to improve its financial situation. That includes raising its tax rates for water, electric and real estate as well as hiring a new chief financial officer, assistant finance director and accounts payable clerk.
For Mayor David Horton, there are significant financial benefits to identifying new economic development opportunities.
“That helps us create a more sustainable future for the city of Radford financially,” he said. “Everything that can bring more people to the city helps create that financial stability.”
City officials did not share figures it has for the estimated revenue that the project could produce. Construction is expected to be completed by 2028, according to Sagar Patadia.
