Two historic Main Street buildings for sale

The Rock Hill Economic Development Corp. wants to sell two buildings on East Main Street that it once purchased to keep them from demolition.

The Bass and McFadden buildings have six second-floor apartments. First-floor commercial spaces are rented to Thi’s Place on Main Street and Overhead Station. Two other commercial spaces are vacant.

The Rock Hill Economic Development Corp. approved a plan Tuesday to turn the 10 units into individual properties and then sell them.

While RHEDC drafts the necessary deeds it also plans to see if an investor would like to purchase the buildings. The city estimates the value of the buildings at $1 million if used for condos, said Stephen Turner, the city’s director for economic development.

The move is part of a continuing strategy by RHEDC to divest itself of property, using the sale proceeds to fund new economic development projects.

“Condos are the best option to get value for the buildings,” Turner said.

RHEDC purchased the buildings about 25 years ago when a developer wanted to tear them down for a parking lot.

Betsy Rock, owner of Overhead Station, said RHEDC has not informed her of their plans. “I’ll wait and see what happens,” she said.

Rock said she leases her space on a month-to-month basis and understands RHEDC’s need to get out of the real estate rental business.

Thi Le also said she rents month to month and hasn’t been informed of RHEDC’s plans. Like Rock, Thi Le said she will consider her options if required to leave, noting there are other properties on Main Street for rent.

Turner said one of the second-floor apartments is vacant. The sale of that property as a condo could set the standard for the other apartments, he said.

In other business Tuesday, the RHEDC board approved a $37,000 addition to the contract with J.M. Cope of Rock Hill for construction of a “spec building” at the corner of Dave Lyle Boulveard and Waterford Drive.

The additional funds will be used to design a second “spec building” on the site.

Construction of the first 40,000-square-foot building is expected to be finished by May 1. RHEDC is negotiating with a possible tenant for the building.

RHEDC officials said they have also received interest in the second, yet-to-be-built spec building.

This story was originally published April 7, 2015 at 6:31 PM with the headline "Two historic Main Street buildings for sale."