Some Say Downtown Bristol Is Entering A New Phase

With a dozen prominent buildings on the real estate market, more changes could be on the horizon for the Twin City’s downtown.

Once nearly vacant, Bristol’s central business district has enjoyed a significant revitalization over the past decade. Dozens of buildings changed hands and many new owners invested heavily in renovations, attracting new businesses and establishing upstairs loft apartments.

Currently, about 12 buildings – including seven in the 600-700 blocks of State Street – are on the market.

Included are the Cameo Theatre and annex, the former Ruth King Antiques building, O’Mainnin’s Pub and the three-story structure where Borderline Billiards occupies the ground floor.

The two Owen Equipment buildings in the 800 block of State also sport for-sale signs and space is available for lease in the former Hayes Furniture building.

A block off State Street, the still-operating L.C. King Manufacturing complex remains for sale.

Some of the available structures are contributors to the downtown business district’s listing on the National Register of Historic Places.

The abundance of available property signals a new phase of Twin City redevelopment, said Christina Blevins, executive director of Believe in Bristol’s Main Street program.

“This is not a bad thing,” she said. “It’s all part of the redevelopment cycle. People have purchased and restored these old buildings and now have them for sale.”

The billiards business, for example, has two years remaining on its lease and no plans to move, Blevins said.

Several other buildings on the Virginia side of State Street have changed hands and new owners have plans for at least one restaurant and more loft apartments, Blevins said.

“Downtown is really stepping up,” she said. “We’re very proud of what is going on.”

Pat Callebs, owner of Callebs Realty, said the downtown is going through a “phase.”

“Neighborhoods have life cycles like people,” he said. “They go, they grow, become stagnant and then slow down. Then people come back and they start over. I think we’re in a phase.”

Callebs, whose firm currently leases office space in a State Street building and is the listing agent for some of the buildings on the market, said some structures have attracted little interest.

“We haven’t seen much action and most [buildings] need rehabbing for the most part,” he said. “Many of the buildings on the market need work. The ones that are fixed up typically don’t stay there long.”

The abundance of available property could also signal economic jitters, Callebs said.

“Things are tightening up a little bit. These buildings can be expensive to rehab and sometimes it’s hard for the owners to see a way to make that investment back,” he said.

The Cameo, for example, has been available for about a year but carries a $1.2 million price tag. The asking price for the 22,660-square-foot restored Borderline building is $985,000, while the Ruth King Antiques building is priced at $525,000.

David Manning, who owns O’Mainnin’s Pub, said he plans to focus on his growing business.

“We’re going to stay, but I want to be a tenant not a landlord,” Manning said. “It’s so busy here I haven’t taken the time – like I should – to develop it to its full potential.”

Other business owners contacted by the Herald Courier said they’re generally pleased with profits.

“I’ve been pleasantly surprised and am very hopeful for the future,” said Sarah Walls, who opened her Serendipity women’s designer clothing shop next to the Cameo last November.

Just up the street, Treasures In Time Antiques owner Michael Brown said his business has experienced both steady and slow periods.

“It has slowed down, but I think it’s with the people living here not coming to downtown,” Brown said. “We’re doing better with people from out of town, because the prices of antiques are a lot better here.”

Walls said she welcomes more new blood among building owners.

“I think a change of hands is good. It will bring new faces and new ideas to downtown Bristol,” Walls said.

Manning said the downtown business climate is good and likely to get better.

“If people are selling their buildings, it seems like a great opportunity for someone to invest in something unique,” Manning said. “I don’t think its something that will die. There is business to be had here.”

dmcgee@bristolnews.com | (276) 645-2532