The Charleston Urban Renewal Authority agreed to support a plan to renovate the former home of Chris' Hot Dogs on Charleston's West Side.
The owners of the building at 207 Washington St. W., Dewayne Duncan and Andy Tanner, asked for a "commitment letter" during Wednesday's CURA meeting.
"CURA doesn't have the capacity to do construction lending, so with the commitment from CURA they should be able to go arrange a construction lender ...," CURA Director Ron Butlin said, "knowing that we'll make a loan at the completion of construction to pay back the construction loan."
Butlin expects the owners of the building to get a permanent loan for the building within a few years.
Frank Gonzales, who owns Mi Cocina de Amor near the building, announced in February he's planning on turning the first floor of the space into a restaurant called Gonzoburger.
The second floor will likely be used as office space for between one to three tenants, Butlin said.
"It could be anything for commercial use that doesn't take a lot of walk-up traffic," he said.
CURA also discussed multiple other projects during a closed-door executive session.
One of those, Butlin said, was potential renovations of a long-vacant building on Charleston's East End.
Fresh Capital Group, a Nashville-based commercial real estate development company, asked for a 90-day extension on their development agreement with CURA last month for 1601-1609 Washington St. E.
Fresh Capital hopes to turn the building into multiple restaurants.
Butlin said the building, which has serious structural issues, may now have to be demolished.
CURA is still weighing their options, Butlin said.
"Fresh Capital individuals still want that location as a restaurant location, we're just not sure that building is going to be suitable," he said.
Reach Ali Schmitz at ali.schmitz@wvgazettemail.com, 304-348-4843 or follow @SchmitzMedia on Twitter.