EDA Introduces Coworking Space Project

To enhance the transformation, growth and sustainability of the Marshall-Ridley Choice Neighborhood and broader Southeast Community, the Economic Development Authority (EDA) is currently rehabilitating 2506 Jefferson Avenue to be the future home of a coworking space. The coworking space will be a location where small businesses and entrepreneurs can rent low-cost office space and access business assistance resources.

The EDA selected Point Management Group, a SWaM-certified business out of Suffolk, to serve as the operator/manager of the space. Point Management Group has a wide range
of experience with business development and engagement with small, minority-owned and disadvantaged businesses.

A $480,000 Industrial Revitalization Fund Grant from the Virginia Department of Housing and Community Development will offset a portion of the cost of the interior rehabilitation needed, and the facility is scheduled to be completed in the first quarter of 2021. A community contest was held to submit and select a new name. The name “The Offices @ Two Five & J” was chosen.