By Lewis Loflin
In May 2016, I highlighted the financial challenges facing Bristol, Virginia, due to The Falls, a retail development near I-81 Exit 5 that accrued over $70 million in debt. Envisioned as an economic driver, it was anchored by Cabela’s, which closed in January 2020 after merging with Bass Pro Shops at The Pinnacle in Bristol, Tennessee. A proposed $650,000 artificial waterfall, never constructed due to cost concerns, underscored early missteps. While ALDI, Hobby Lobby, and Planet Fitness have since arrived, the project’s debt persists. As I’ve discussed in Higher Taxes in 2015 and Teaching Jobs Cut, Bristol’s retail focus has burdened residents. In 2025, The Falls’ story offers insights for the Tri-Cities.
Southwest Virginia’s ongoing issues—poverty, job scarcity, and mismanagement, as seen in Scott County and Energy Center—highlight the need for sustainable development over risky bets.
Initiated in 2013, The Falls aimed to develop 140 acres into a 1.5 million-square-foot retail hub, expecting sales tax revenue to service bonds. Bristol invested nearly $40 million in land and infrastructure, issuing $25 million in general obligation bonds and $34 million in revenue bonds, totaling over $70 million in debt by 2016. Cabela’s opened in October 2015 with 170 jobs, followed by Lowe’s, Sheetz, and Zaxby’s in Phase 1. By April 2016, only four smaller businesses—Buffalo Wild Wings, Freddy’s Frozen Custard, Sport Clips, and Noire The Nail Bar—were confirmed, offering limited economic impact (Bristol Herald Courier, April 1, 2016).
This $70 million debt, detailed in Bristol’s Debt Crisis, strained city finances, with peak payments challenging reserves by 2023.
In 2016, a $650,000 artificial waterfall was proposed for The Falls’ entrance, funded by $250,000 from Cabela’s and $700,000 in bonds. Requiring artificial rock due to dissolving local limestone, it was pitched as an aesthetic draw. Mayor Archie Hubbard called it a “neat” addition, but residents balked at the cost amid rising debt. In June 2017, the plan was scrapped when annual pump electricity costs were estimated at $100,000-$150,000, redirecting funds to landscaping (WCYB, June 22, 2017). This decision echoed earlier questionable investments, like the Nicewonder land deal in Debt Crisis.
Since 2016, The Falls has welcomed ALDI, Hobby Lobby, and other tenants, signaling some progress. ALDI’s 20,000-square-foot store opened in November 2018 at 720 Merchant Trce, providing affordable groceries and 10-15 jobs at roughly $13-$15/hour (Bristol Herald Courier, Nov. 8, 2018). Hobby Lobby’s 55,000-square-foot store, opened in August 2018, added 30-50 jobs with full-time wages at $15.35/hour and part-time at $10.45/hour, attracting regional shoppers (Bristol Herald Courier, Aug. 28, 2018). Planet Fitness, while not at The Falls, opened in Bristol Park in 2024, contributing to local fitness options but with minimal economic impact (BucksCo Today, May 30, 2024). These additions, alongside Texas Roadhouse, haven’t fully offset the project’s early setbacks.
Cabela’s closure in January 2020, following Bass Pro’s 2017 acquisition, severely impacted The Falls. Relocating to The Pinnacle, seven miles away, it preserved most of its 110 jobs but cost Bristol vital tax revenue (WJHL, Jan. 13, 2020). City Manager Randy Eads flagged risks for 2023 debt payments, as bonds underperformed, draining reserves from $2.7 million to $1.4 million by November 2019 (WCYB, Jan. 15, 2020). The Pinnacle, supported by $25 million in Tennessee bonds, flourished with Bass Pro, drawing tenants like Best Buy from Bristol, Virginia (Virginiaplaces.org). The Falls, delayed in its rollout, struggled to keep pace.
The Falls’ job creation has been modest. Lowe’s relocated 1.5 miles, yielding no net jobs, while Sheetz and Zaxby’s competed with an Exxon station 100 yards away, with Sheetz pushing restrictions on nearby rivals. In 2016, Mayor Hubbard conceded the city would “take whatever we can get” (Bristol Herald Courier, April 1, 2016), reflecting slow progress. This mirrors low-wage call center jobs in Scott County, where economic gains fall short of promises.
Bristol’s retail challenges extended beyond The Falls. The Bristol Mall, valued at $16 million, sold for $2 million in 2015, losing tenants to The Pinnacle until Hard Rock Casino opened in 2024. Kmart in Bristol, Tennessee, closed in August 2016, part of Sears Holdings’ cuts across Cleveland, Clarksville, and Memphis, with liquidation starting May 19, 2016 (WJHL, May 3, 2016). Retail’s instability, as I noted in Minimum Wage, undermines growth when jobs merely shift locations.
In 2025, The Falls includes ALDI, Hobby Lobby, Texas Roadhouse, and a 2022 apartment complex (180 units), but vacant lots and a stalled Tru by Hilton hotel persist. Combined debt—$70 million from The Falls, $35 million from landfill issues—nears $100 million against a $55 million city budget (Virginiaplaces.org). Hard Rock Casino may bolster taxes, but poverty (15-20%) and job scarcity remain, akin to Energy Center’s challenges. The lack of transparency in 2016’s closed-door decisions, criticized in TICR, calls for reform.
Bristol can move ahead with clear steps:
| Action | Benefit |
|---|---|
| Inclusive planning | Fosters trust |
| Diversified economy | Creates stable jobs |
| Community services | Supports residents |
| Financial audits | Reduces waste |
Shifting from retail reliance, as I advocated in Meth Epidemic, can rebuild the Tri-Cities’ resilience.
The Falls’ debt, Cabela’s exit, and unbuilt waterfall highlight the pitfalls of retail-centric growth. With ALDI and Hobby Lobby as progress, Bristol must pursue transparent, community-focused development in 2025 to uplift Southwest Virginia.
Acknowledgment: I’d like to thank Grok, an AI by xAI, for helping me draft and refine this article. The final edits and perspective are my own.
