Local developer Tighe Bullock has moved onto his next project in reviving the Elk City district on Charleston's West Side.
On Thursday, Bullock closed on 222 Washington St. West, a roughly 6,600-square foot space, for $185,000.
The brick, one-story building housed a Dollar General until August, when the store owners decided not to renew their lease, Bullock said.
Bullock has led several restoration projects in the district's historic buildings over the past few years, including the new location of Kin Ship Goods, Bully Trap Barbershop and the ongoing work at the former Staats Hospital.
Bullock said the space is actually four different buildings, but the current facade was added on by the owners at some point to make it look like one large storefront.
That could be a cause for concern, since Bullock relies on historic tax credits to help finance the buildings he renovates.
"The fact that they did what they did to the storefront jeopardizes the potential for historic tax credits. The most materially contributing feature of a building is the facade, [so] right now, it's questionable," he said.
But the structure still has some historic features, such as the original pressed-tin ceilings that boast different designs, he said.
Bullock first plans to recreate the original four storefronts, as best as he can.
"We're going to have to go off old photos and what we know about that era of construction," he said.
He estimates the buildings were constructed between 1915 and the late 1920s.
The building was previously owned by Gomolco Realty Co., which is owned by members of the Cohen family. That's the same family that owned Cohen Drug Co., in Charleston.
Unlike his other projects in the district, Bullock won't develop apartments above this building because it's only one story.
"We don't have to have the [same] fire code requirements as you do if someone is living above the space," he said. "It's going to be a lot easier, in terms of meeting codes and expenses."
Given the layout of the space, Bullock said, his vision is to build it out to host live music.
"I'd like to pick around the edges and do what needs to be done, in terms of the storefronts, the interior demolition and upgrading power," he said. "We're going to shop it around first as a music venue and restaurant."
If that doesn't work out, then he'll plan to partition the space off into its original four spaces to rent to individual tenants.
Bullock said he plans to charge about a dollar per square foot, per month.
"We're going to restore the storefronts, absolutely, no matter what," he said. "That gives us flexibility of renting it out as one space or four individual units."
He said he expects to have the new storefronts completed in about six months.
"After that, it will just be a matter of what sort of leases we're doing," he said. "We want businesses that are dynamic and will bring a pedestrian draw."
The National Community Investment Fund provided the financing for the acquisition price.
"They mostly deal in acquiring land for public use and preserving natural habitats, but they also have a mission to improve communities," Bullock said. "I was really excited they partnered with us on this. It shows they have an interest in the area."
The investment fund also agreed to take a second lien position to United Bank, which is loaning the money for the buildout costs, Bullock said.
Bullock also is looking to hire skilled crew members to help with the space's buildout, especially carpenters and masons. For more information, email tighe.bullock@gmail.com.
Reach Elaina Sauber at elaina.sauber@wvgazettemail.com, 304-348-3051 or follow @ElainaSauber on Twitter.