Hopewell Data Center Redevelopment
Volterra Advisors helped transform a former ethanol processing facility in Hopewell, Virginia from a traditional industrial redevelopment into a data center campus opportunity.
Working alongside NS Development and Legacy Investing, Volterra repositioned the site, corrected the utility strategy, and helped preserve the transaction after diligence uncovered a major power issue.
Project Snapshot
From industrial facility to powered land opportunity
Hopewell, VA
Site market
10 MW
Near-term path identified
LOI
Placed with Legacy Investing
The Challenge
The site had strong fundamentals near the Richmond market, including industrial zoning, transportation access, natural gas infrastructure, and limited expected community opposition. The issue was power certainty.
During diligence, Volterra found that the previously marketed utility capacity was no longer available. What had been positioned as an existing power advantage needed to be rebuilt into a new utility strategy.
Reframed the Asset
Volterra identified that the former ethanol processing facility had data center potential beyond a conventional industrial redevelopment plan.
Validated the Power Story
Direct utility diligence uncovered that previously marketed power information was inaccurate and that prior service had been abandoned.
Coordinated the Recovery Path
Volterra worked with Dominion Energy, the City of Hopewell, NS Development, Legacy Investing, and project stakeholders to preserve viability.
Expanded the Solution Set
The team introduced alternative generation concepts to support early deployment thinking while the long-term utility path was restructured.
Volterra's Role
Volterra's work was not limited to marketing the site. The engagement required utility diligence, buyer targeting, stakeholder coordination, and a credible path through a power problem that could have stopped the transaction.
Coordinated zoning validation, utility engagement, and local stakeholder outreach.
Marketed the opportunity to a curated network of hyperscale, powered land, and data center development groups.
Worked directly with Dominion Energy and local economic development leadership to restructure the power strategy.
Introduced alternative generation partners as a potential bridge and resiliency strategy.
Helped align the site with Legacy Investing, whose urban-core and secondary-market thesis fit the opportunity.
Outcome
A clearer path for a complex site
The project demonstrates how powered land opportunities are often created through diligence, coordination, and market fit rather than simple site promotion.
Industrial redevelopment repositioned as a digital infrastructure opportunity
Utility issue surfaced early enough to be addressed directly
Near-term energization path and longer-term expansion strategy developed
Buyer strategy aligned with Legacy Investing's urban-core data center thesis
NS Development gained a stronger path into the powered land ecosystem
Evaluating a similar site?
Sites with industrial history, power assumptions, and redevelopment potential often need a sharper utility and buyer strategy before the market can value them correctly.
Related Offer
PowerQ Decision Package
PQDP helps clients pressure-test utility viability before committing to queue entry or marketing a site around unsupported power assumptions.
Explore PQDPStart the Conversation
Bring the site into focus
If you are evaluating a site where power, buyer fit, or redevelopment strategy drives the outcome, Volterra can help clarify the path.