News
October 13, 2008
Tax credits key to historic downtown renovation
Growing law firm moves to new offices on Capitol Street
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CHARLESTON, W.Va. - As the centerpiece of what David Pray calls the city's "original strip mall," the building was the first home of Diamond Shoes and Garment Co. - later the Diamond Department Store.

It was a Kresge dime store for most of its life, right next door to Woolworth's, its main competitor. In later years, it housed a Rite-Aid, then a stripped-down version of McCrory's.

1 of 5 Photos
Brian Castle of Prizm Painting applies a finishing touch behind the first-floor reception desk of Bailey & Glasser. Partner Ben Bailey picked out the painting, "June 2, 2007," which Lynn Boggess rendered in a single day along the Greenbrier River.
Now one of Capitol Street's finest commercial buildings is beginning a new life, like others on the block, as the headquarters of a law firm.

Ben Bailey, founding partner of Bailey & Glasser LLP, estimates he has spent about $4 million on what he calls an adaptive reuse of the three-story building at 209 Capitol St. He bought the property 2 1/2 years ago under a separate partnership. He and his employees moved in a week ago.

"It's been a lot of fun, and a big challenge, too," Bailey said recently. "I'm very happy with the way it's turning out. You look at the way something like this looked two years ago, and then see the way it's turned out - it's gratifying."

It almost didn't happen. In fact, a buyer was ready to tear down the building and put in a parking lot, just like the one next door on the site of the former Hotel Fleetwood.

Pat Brown, director of the Charleston Urban Renewal Authority, still regrets letting the Fleetwood go. It created a hole in the middle of the Capitol Street streetscape, and Brown made sure it didn't happen again.

"We got involved in the middle of the dispute between the tenant and the owner," Brown said. In a complicated case involving Rite-Aid, the Geary Trust (the owner) and Kresge, which held a long-term lease, Rite-Aid threatened to raze the building and erect a new one.

"At one point, Rite-Aid went down to the city and asked for a demolition permit," Brown said. "They said you can't get a permit without going through CURA." CURA refused. A lawsuit was filed.

After a judge ordered parties to negotiate, parking lot magnate Spyro Stanley reportedly offered to buy the building. The owners approached Brown and gave CURA first right to buy. The board agreed.

"We bought it to make sure we had control of it," Brown said. "We didn't want it torn down. We wanted it preserved."

In March 2006, Bailey agreed to do just that. He paid $525,000. "We sold it for $25,000 more than we paid for it," Brown said. "That was to cover our soft costs. Our goal was not to make money on it."

At the time, Bailey's assistant said they expected to spend another $1 million on renovations. They apparently underestimated, as Bailey now says the total cost will run about $4 million.

One of Bailey's first steps was to hire David Pray, a former builder, as project manager through his company PrayWorks. Pray worked with the architects, GBBN of Cincinnati, to carve up the old open retail floors into law offices.

Pray and Bailey led some recent visitors on a tour, through the high-ceilinged lobby with its pressed-tin ceiling panels, past the law firm's reception area into the first-floor offices.

"The front of the place is conference rooms," Bailey said. "We had only two in the old one. Scheduling was a problem. We have five here."

Toward the back, individual lawyers' offices line the outside walls, support-staff work stations cluster toward the middle. There's a kitchen/lunch room in a back corner and, nearby, a space ominously labeled "war room."

"It's exactly what it implies," Bailey said. "We do a lot of projects and need space to lay out paper. We have one on this floor and one in the basement for really huge projects." Two more are on the second floor, ready for battle.

Downstairs, thick stone walls surround areas for files, storage and mail processing, plus a small exercise facility with shower and rest rooms.

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Posted By: bapaball (8:45am 10-13-2008)
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I'd love to move downtown to be closer to work, but due to our gov't's mishandling of the fiscal crisis, I sure can't affort (or get a loan for) a $200K loft!

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