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News Detail
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| 4/1/04 |
Contact Information: |
| Downtown Fayetteville and Local Businesses Get a Helpful Boost from Self-Help |
Rosimar Melendez |
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(910) 483-8489 |
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rosimar@fyifayettevillenc.com |
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FAYETTEVILLE, N.C. - "Win-win situation" is the best way to describe the new Self-Help Center that's opening its doors downtown. If you're not familiar with Self-Help, is a unique, non-profit financial organization operating throughout the North Carolina. It provides home loans, business loans and other support for small businesses and individuals who may not be ready for more conventional financing. Another Self-Help goal is historic preservation and downtown revitalization in North Carolina cities. The organization has restored downtown real estate in Asheville, Durham, Greensboro, Wilson, Wilmington, and is currently renovating historic buildings in Charlotte and Greenville in addition to Fayetteville.
Fayetteville's new Self-Help Center will realize several goals. It is the location for Self-Help's Fayetteville branch and for the Latino Community Credit Union (LCCU), which will open November 17th. A landmark building will be restored to use, with updated systems and restored architectural features. And local nonprofits and small businesses will have a new option for centrally-located, affordable office space.
Located at 100 Hay Street in "Market Square" - facing the Market House - the Self-Help Center is a landmark building. Self-Help invested over $3 million to renovate this architectural treasure. Originally built in 1925 as the First National Bank of Fayetteville, it was the city's tallest building for more than 40 years. Self-Help has preserved the building's Neoclassical style, while renovating the interior. To meet current building codes, new electrical, heating, cooling and plumbing systems, as well as elevators and sprinklers, have been installed. The two-story, atrium-style lobby has been restored, giving the LCCU a dramatic work space.
"Having this impressive building restored is a major boon for our city's downtown renaissance," says Bill Martin, Cumberland County Business Council (CCBC) President. "The Self-Help Center is a proud addition to our downtown skyline."
When it comes to development opportunities, however, the Self-Help Center offers much more. The ten-floor, 21,000 square foot building is now ready for occupants. As part of this Self-Help project, the organization is also making affordable office space available for commercial tenants. Local entrepreneurs, small businesses and other organizations will have the opportunity to locate downtown. A variety of office space options are available, ranging from single suites to an entire floor or multiple floors.
"In other cities, we've found that nonprofits and smaller law firms are ideal tenants, because our buildings tend to be near courthouses and city offices where those types of firms do business," said Fran Turchi Fried, manager of Self-Help's real estate team. "This is modern, well-appointed space inside an architectural treasure, surrounded by great views of downtown and Hay Street."
"Now that this Center is ready to open its doors, it will bring more new commerce and activity to our burgeoning downtown," says Martin. "It's a win-win situation for everyone involved."
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