Charleston developer purchases an additional home | Enterprise

The exact businessman who acquired the previous Commerce Square financial institution creating in downtown Charleston is in deal to get a nearby construction on Dickinson Road.

All through a community meeting before this week, Kanawha County Community Library officers introduced they had accepted a $325,000 bid from Allen Bell to invest in the making. The making web page is instantly throughout from the Hale Home bistro.

Bell before this year ordered the former financial institution developing for $4.5 million, vowing to convert it into a 67-device condominium complex by up coming calendar year. Employees have been hectic on a hot Friday, continuing to intestine the setting up in preparation for the transformation. The building is located at 900 Lee Road, on its southeast side, involving Hale and Dickinson streets.

“We actually just bought it last 7 days and never have considerably to share on it,” stated Brittany Allen, a representative of Bell-owned subsidiary AB Contracting. “We’re not guaranteed what it’s heading to be. I don’t know something even more than that.” Allen stated the offer had not shut.

Kanawha County General public Library Director Erika Connelly confirmed in an electronic mail that the Dickinson home is less than deal.

About 20 parking spaces appear with the new acquisition. The developing could most likely be torn down for condominium parking, but the former lender has an hooked up parking construction. Also, subsequent door is a 110-spot parking whole lot, with a rough-hewn “Spyro’s” indicator out entrance, reflecting the previous ownership of Charleston fixture Spyro Stanley.

Stanley’s son, Dino, now owns the large amount, along with Adelphia Restaurant on Capitol Road and other company worries. He claimed he briefly appeared at paying for the library creating himself, but decided from it. Neither is he fascinated in promoting his large amount.

“I have no wants or requires or feelings about providing,” Dino Stanley stated. “No one’s approached me and we do not have any ideas to offer.” Stanley has a agreement with the state Tax Department, whose staff park on his great deal.

The library’s possession of the nondescript developing most likely has sensible and historical connections. In advance of going to Capitol Street to what was then a former federal making in early 1967 — a framework now undergoing a huge renovation — the library occupied the site Bell’s possible apartment task now does. That web site is also the extensive-back Capitol Annex home.

Bell’s Dickinson acquisition is perhaps 150 yards from the tower. It is a two-story developing, rather nondescript and runs fairly deep from the Dickinson sidewalk.

In a July Gazette-Mail story, Bell reported the household unit would be rentals, not purchases, with two blended-use floors at the bottom.

Success are preliminary on the downtown residing industry, but early returns present rentals at the Atlas Building, the Cox-Morton Making and the Lowenstein Developing above Ellen’s Ice Product to be profitable.