NEW BERN – A Mount Airy development was recently recognized with an award for excellence in downtown revitalization at the North Carolina Main Street and Small Town Main Street Awards Ceremony.
The Spencer’s Loft Condominiums, owned by local business man Gene Rees, was one of two projects that received recognition in the Best Historic Rehabilitation Project, along with the The Tryon Theatre Renovation in Tryon.
Spencer’s Loft is a development of owner-occupied condominiums which were converted from a portion of the former Spencer’s textile mill complex.
“While the world struggles with the COVID-19 crisis and its economic consequences, the important work of programs like North Carolina Main Street continues,” Department of Commerce Secretary Anthony M. Copeland said at the awards ceremony, held earlier this spring before the statewide stay-at-home order was issued. “We’re proud of this year’s award-winners, whose innovative leadership generated public and private investment, spurred job creation and facilitated residential development to energize the state’s downtown districts.”
Rees’ condominium was not the only Surry County-based award winner. Explore Elkin was recognized as “best innovation” in the Economic Vitality division of the annual awards program.
The North Carolina Main Street and Rural Planning Center at the N.C. Department of Commerce helps small towns create vibrant central business districts by using local resources to preserve their historic fabric and build upon their unique characteristics. A panel of judges chose this year’s award winners from more than 50 nominations submitted by Main Street communities across the state.
Assistant Secretary of Rural Economic Development Kenny Flowers also was on hand for the event. He said the annual Main Street Awards are a chance to showcase best practices in building rehabilitation, downtown revitalization strategies, historic preservation and creative marketing.
“Common to every successful Main Street program are authenticity and partnership, and these communities exemplify the best of those qualities,” Flowers said.
“Mount Airy Downtown Inc. is proud of Gene Rees, Rowhouse Architecture, and R&L Construction for their preservation work on the Spencer’s Loft Condominiums,” the group’s Main Street Coordinator, Lizzie Morrison, said in a statement. “Not only does this project help to preserve our local history, it makes a huge economic impact on downtown.
“When the property was auctioned off in 2014, the building value was $18,300 for approximately 45,000 square feet. With the help of the Historic Tax Credit program, it has been revitalized to 16 residential condominiums, bringing new life back into a once deteriorating building. The property value at the completion of the project was $4,590,000.
“Unit sales in the development ranged from $182,000 to $494,500,” she said. The city property tax increased from $145 a year to $37,179 for this property.
“This is a win for everyone. Downtown is more of a neighborhood now than it was before. New restaurants and businesses have opened, night life has increased, and the downtown district is safer with more people living in it.”
.neFileBlock {
margin-bottom: 20px;
}
.neFileBlock p {
margin: 0px 0px 0px 0px;
}
.neFileBlock .neFile {
border-bottom: 1px dotted #aaa;
padding-bottom: 5px;
padding-top: 10px;
}
.neFileBlock .neCaption {
font-size: 85%;
}
Source: https://www.mtairynews.com
Be First to Comment