Featured Project - Commercial Agent

FEATURED PROJECT

McCollum-Ferrell Building

Chris Francoise of Titan Property Advisors LLC & Jeff Sadler of Complete Community Economies, LLC, the managing partners of Burch Building LLC, were planning to renovate the McCollum-Ferrell Building but eventually sold it in April 2024.

Listed on the National Register of Historic Places

The McCollum-Ferrell Building is located at
16-18 East Church Street in Martinsville, Virginia.

Listed on the National Register of Historic Places

Constructed in 1923 and finished in 1924, the building is in the Romanesque Revival / Richardsonian architectural style, the design employed large, round-arched openings on the second floor surrounded by patterned and corbelled brickwork.

It housed a F.W. Woolworth Company Store (Woolworth's) by 1927 and continued for over 30 years through 1960 eventually becoming the McCollum-Ferrell Shoe Store after significant renovation in 1961.

McCollum-Ferrell Shoes

McCollum-Ferrell Shoes was founded in August of 1947 by H. Edd McCollum and Raymond Ferrell.

Their first store opened on August 7, 1947 at 7 Walnut Street, Martinsville, Virginia.

In 1960, McCollum and Ferrell purchased the former Woolworth building.
The building was completely renovated inside and out for its Grand Opening on Thursday August 17, 1961.

Two decades later, the store's facade was renovated again in the 1980s to the way it appears today. The last renovation restored much of the original front of the building to the way it looked when Woolworth's operated in that location.

McCollum-Ferrell Shoes expanded to nearby Danville and South Boston during its lifetime, but sadly, the Martinsville store closed for good in 1996.

Burch Building, LLC

The McCollum-Ferrell Building was in the process of being renovated by Burch Building, LLC into apartments and retail/commercial space in the Uptown Martinsville district.

The building was planned for renovation as a residential / commercial (mixed-use) redevelopment.

This location can have the ability to take advantage of State & Federal Historic Tax Credits and Virginia Enterprise Zone Credits.

The building is a two-story brick building with approx. 15,400 square feet of total improvements including the basement level.

The 1st Floor still has a retail storefront with vestibule and display case areas.

Originally, the plan was to have three (3) apartments on the main floor. The 2nd Floor was existing office space that was to be turned into six (6) apartments. The full walkout basement could have three (3) three apartments.

The parking lot is at the rear of the building.

The revitalization of the McCollum-Ferrell building can transform the former Woolworth’s into commercial and residential spaces to include twelve (12) apartments, as well as retail/commercial/storage space.

The former renovation project received a $500,000 grant (loan) in Mixed Use on Main Street (MUMS) funding which was awarded by the State of Virginia to support revitalization for derelict structures into mixed-use developments.

This program was created as a joint effort with the Industrial Revitalization Fund (IRF) and Virginia Main Street (VMS) programs, both administered through the Virginia Department of Housing and Community Development (DHCD). This project in Martinsville received the maximum amount available!

Mixed-Use on Main Street (MUMS)

Burch Building LLC, received approval from the Martinsville City Council and received a resolution supporting a Mixed-Use on Main Street (MUMS) grant application to the Virginia Department of Housing and Community Development (DHCD).

The application was made in January 2023 making it eligible to be the first project in the state to receive an invitation to apply for the MUMS program, which was designed to encourage rehabilitation of multi-story buildings in a historic commercial district, with the inclusion of upper story housing.

The MUMS program was only for mixed-use buildings with commercial space on the first floor and residential above and requires a pre-application for verification that the project was qualified.

Home | About | Services | Sectors | Disclosure | Privacy | Contact

Compare listings

Compare