News
In the News: Russellville shows off first downtown loft apartments
Posted on June 11, 2017
Originally published in the Times Daily.
Matt Cooper said the completion of loft apartments is the first step in revitalizing downtown.
“This is something that we have been working to see done,” said Cooper, a local banker and member of the city’s downtown redevelopment committee.
Developer and builder Chris Wallace and his partner in Made in USA Properties have renovated the old Reed’s General Store.
Wallace said the first floor of the building remains a retail business. The upstairs of the structure that was built in the 1930s now has two loft apartments.
“It was a project that really turned out well,” Wallace said. “We see the potential for downtown Russellville, and we were ready to step out, do this and see what happened.”
Southern Wellness Services is located in the downstairs commercial space. Wallace said the loft apartments were rented in two days.
“Just from the interest the project was drawing, I thought we could rent them, but I had no idea that it would go that quick,” he said.
“This is the first step in proving Russellville has the ability to be revitalized,” Cooper said. “For our team (the redevelopment committee), this is the next step in a long journey to see the vision we have coming to reality.”
Mayor David Grissom, who started the redevelopment committee in January 2016, said he hopes the city’s first loft apartments are the first of many more to come.
That’s one reason there will be a public open house from noon to 4 p.m. today.
“We want people to see what can be done with these old historic properties, what they can be made into,” Grissom said. “We want people to see what can be done by maximizing the square footage in these structures.”
Grissom said there have already been some downtown properties sold “with the idea of developing the old buildings.”
Wallace said he has heard of at least two other property owners who are interested in adding loft apartments to buildings.
“This project turned out really well. We’re proud of it,” he said. “I think it broke the ice and others will follow.”
He said he and his partner are probably going to do another building.
“This is what we envisioned when we started the downtown redevelopment,” the mayor said. “Getting people to live downtown, bringing other things downtown, it’s all a part of the process.”
“It’s exciting,” Cooper said about the opening of the apartments. “It’s a first of what we believe will be many more. It’s a step in the right direction.”