Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, December 15, 1993 TAG: 9312150087
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
DATELINE: LENGTH: Medium
More significant, perhaps, is the workers - employees of First Union Mortgage Corp. - will occupy space in First Union Tower designed to accommodate 250 more people.
This space will be filled as First Union grows in Roanoke, said David Scanzoni, spokesman for First Union in Charlotte, N.C.
Moving its First Union Mortgage Corp. to downtown offices was the company's attempt to placate both city and county officials with promises of new jobs that it was bringing here to help offset the 850 Dominion employees threatened with layoffs when First Union acquired Dominion.
In March, the company also announced plans to add jobs at the bank's operations center in Roanoke County.
The offices opening today fill most of the space the company leases in First Union Tower and boosts First Union's downtown employment to 720 people. It's total staff in the Roanoke Valley is 2,073.
The 211 relocated workers are part of the mortgage loan servicing group, which previously was based at First Union's Valley Court facility near Roanoke Regional Airport. First Union created 114 of the jobs earlier this year.
Scanzoni said the company no longer will use the space at Valley Court, and Philip E. Witt, vice president for corporate real estate, said the Valley Court property has been listed for sale.
The center is partially leased to Retired Persons Services, the mail-order pharmacy operation of the American Association of Retired Persons.
The mortgage loan servicing group helps First Union mortgage customers and performs other related administrative functions. First Union installed more than $1 million worth of automation and computer equipment in the tower in preparation for the change.
The leased space at the tower was acquired by First Union Corp., parent of the mortgage company, when it merged with Dominion Bankshares. Dominion had planned to move its corporate and executive offices to the tower.
Scanzoni said Dominion had 75 employees working at the tower prior to the merger. They worked in capital management, law, economic development and strategic planning. Since March, all of those workers have moved to other locations, primarily in the nearby First Union Building at 213 S. Jefferson St.
The 211 mortgage servicing employees occupy space on the ninth and the 16th through the 20th floors. The 20th floor includes a bank training facility.
The move means the only space leased by the bank that is not occupied is the top floor, the 21st. Scanzoni said no decision has been made about its future. The top level is used for many community events, such as the current Christmas-tree display as a fund-raising benefit.
Ben Jenkins, president of First Union National Bank of Virginia, said its officials are pleased to bring the 211 positions downtown.
"Each new job created in the downtown area brings increased life, activity and vibrancy to the commercial heart of Roanoke," he said.
"In concrete terms, these new jobs mean more people shopping at downtown stores, eating at downtown restaurants and enjoying downtown cultural attractions," he said. "That's good for business and great for city pride."
The city has given First Union favorable terms for lease of parking spaces in the garage on the first seven floors of the tower.
The mortgage processing department planned a reception at the new offices this morning.
by CNB