Home Depot is slated to open a new store at Charlottesville Fashion Square in the summer of 2025. The home improvement giant will occupy the space formerly held by Sears, which closed its doors in 2019. This marks Home Depot’s first foray into the Charlottesville market. The Atlanta-based retailer purchased the vacant property and surrounding land for $1.762 million in September 2022.
Home Depot plans a substantial $26 million investment to demolish the existing structure and construct a 134,262-square-foot home improvement store and garden center. The project is expected to generate over 100 new jobs for the local community. In addition to the retail space, the redevelopment will address any remaining environmental concerns stemming from the site’s previous use as an automotive center. Albemarle County officials have praised the project for revitalizing the aging 1980s-era mall.
“We are eager to welcome Home Depot to our area,” said Albemarle County Chairman Jim Andrews. “This public-private partnership jumpstarts the first development with speed, cleans up environmental contamination present at the site, and significantly contributes to transportation connectivity.” The project aligns with Albemarle County’s broader vision for the Rio29 Small Area Plan, adopted in 2019. This plan aims to transform the intersection of Rio Road and U.S. 29 into a vibrant, mixed-use hub encompassing residential, commercial, and social spaces.
As part of the agreement with Albemarle County, Home Depot will actively seek buyers for the former Red Lobster building adjacent to the new store. The retailer will also transfer the right-of-way for the realignment of nearby Hillsdale Drive, a key component of the Rio29 plan. This road realignment, estimated to cost $3.3 million in 2018, is crucial for improving traffic flow and pedestrian access in the area. These efforts aim to stimulate economic growth and enhance the overall infrastructure of the Charlottesville Fashion Square area.
“The Fashion Square Mall property sits at one of the most prominent intersections in Albemarle’s commercial core and is ripe for redevelopment,” stated Albemarle County Executive Jeff Richardson. “As the first significant investment in this corridor, it carries unique challenges, but the county’s participation in this project helps to accelerate progress and mitigate those challenges, bringing renewed vibrancy to the property.” The Home Depot project represents a significant step towards realizing the long-term vision for Charlottesville Fashion Square as a thriving economic and community center. The collaboration between Home Depot and Albemarle County signifies a commitment to revitalizing this key commercial area and fostering future growth.
