News
Town of Rocky Mount purchases historic building to create new music venue on the Crooked Road
The Town of Rocky Mount has initiated the purchase of the historic V.L. Lynch Building to create a new music venue and maximize the community's investments in Uptown and Downtown Rocky Mount.
"This majestic, sturdy old building will be the centerpiece of our efforts to create a thriving arts and culture district that revitalizes our economy, stressing the importance of retail, shopping and dining opportunities within our Central Business District," said Mayor Steven C. Angle.
The Town was the successful bidder for the 16,000-square-foot building and associated lot during an auction Monday night conducted by Woltz & Associates in Roanoke. The high bid was $235,000 with a 5 percent buyer's premium added for a total bid of $246,750. The property's current tax assessment is $476,600.
Assistant Town Manager Matthew Hankins placed the Town's bids and was accompanied to the auction by Council Members Bobby Cundiff and Bobby Moyer.
The Town intends to issue a bond worth up to $1.4 million bond for acquiring and renovating the structure, creating a dedicated music venue in the upper level with a seating capacity of approximately 400, with a professional stage, sound system and lighting. The building's historic status will reduce the costs of renovation. Historic Tax Credits will be used to repay a significant portion of the Town's investment.
"This is our key opportunity to take advantage of our position as the Eastern Gateway to the Crooked Road, Virginia's Music Heritage Trail," said Angle. "Much of the music that will be performed here will be played by Rocky Mount and Franklin County musicians and recognizable music acts to audiences coming to the Crooked Road from throughout the country and the world."
The new venue will contribute to the Town's effort to create an Arts & Culture District, and will tie together significant public and private investments made in revitalizing key portions of the Town's Central Business District.
"The members of Town Council should be applauded for their foresight and recognizing that an economy built around local people, local jobs and local skills cannot be exported," said Town Manager James Ervin. "The Crooked Road brings a tremendous number of visitors to our community every year, and we expect to be able to put on a show."
The investment is critical in tying together the Uptown and Downtown revitalization efforts.
"Over the past 20 years, the Town of Rocky Mount and the property owners have put over $20 million into public and private investments in making our downtown attractive to shoppers and diners," Ervin said. "This investment is important because it will bring people into our community to eat, shop, buy gas, stay overnight and enjoy our scenic setting. The economic impact of those visitors over 20 years should far outpace the public investment in this property."
Hill Studio performed the pre-bid inspection for the Town.
"The building is a contributing structure in the Historic District not only for its age but it was designed by Raymond Loewy, a well-known industrial designer known as "The Father of Industrial Design" who also designed the building that houses the O. Winston Link Museum in Roanoke," said the report. "He was also known for designing different products for Coca-Cola, train interiors and award-winning household products such as toasters, blenders and more. All of these designs were embracing a modern, progressive spirit."
The Town will close on the property by December 23. Hankins will manage the renovation project, with Ervin and Town Finance Director Linda Woody managing the financing. The Town estimates the project will take up to 18 months to complete, with the first concert bookings expected by mid-2013.
"As no grant funds are involved, this process should be streamlined and fast in order to put people to work quickly to benefit the Town and its businesses," said Hankins.
Once the building renovations are complete, the Town will seek Crooked Road major venue status for the facility from the Crooked Road Board of Directors.
