Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, January 12, 1995 TAG: 9501120065
SECTION: VIRGINIA PAGE: C-1 EDITION: METRO
SOURCE: DAN CASEY STAFF WRITER
DATELINE: LENGTH: Medium
After a closed-door meeting, City Council on Monday approved a $100,000, 3 percent loan to Juvenile and Domestic Relations Judge Philip Trompeter, who wants to restore and redevelop four properties in the City Market historic district.
The three-story buildings at 311, 313, and 315 Market St. and 24 Church Avenue now house the Capitol Restaurant, a former adult bookstore, Vanucci's Italian Cuisine and the former Hot Dog Queen.
Built in 1904, the properties are deteriorating and need major repairs to the roof, windows and cornices, project architect Peter Clapsaddle said. Those will begin next month, along with efforts to clean the brick exteriors.
Trompeter intends to spend another $700,000 on renovations to the buildings' interiors, a process that could take up to five years.
He hopes to retain Vanucci's as a tenant and move upscale retail businesses into the three other storefronts.
The 45-year-old Capitol Restaurant will close, although its owner will open an eatery under another name on Jefferson Street this spring.
Plans are tentative, but the second floors of Trompeter's properties probably will house professional offices, Clapsaddle said. The third floors may be turned into housing or additional office space.
"The idea is making it a source of pride, not only for the city, but for my family," said the judge, who inherited the buildings from his parents and his uncle.
"That property is holy ground, if you will, because my family came here in the '20s, and they were bakers, and that was the site of the bakery.
"For many years, it's been somewhat of an embarrassment to me, but the tenants have not always been the most desirable or appropriate businesses for downtown," he said, adding that he hopes one day to pass the properties on to his own children.
Walter Vanucci, owner of the popular Italian restaurant that bears his name, said he has talked with the judge about moving into the Capitol's old space, although nothing has been decided. The Capitol is bigger than his corner location, he said.
The Capitol's lease is up in September, although owner Malik Hasan said he intends to move this spring. He's taking his business to 303 S. Jefferson St., space formerly occupied by Scottie's, a convenience store. Hasan's new restaurant will be called The Golden Key.
"It's going to be a little higher class. I'm going to fix it up real nice," Hasan said.
Trompeter said he has no idea who the other tenants will be, although he's contacting commercial real estate agents for prospects.
Trompeter's unsecured loan comes from federal Community Development Block Grant funds. Council created the $100,000 Economic Investment Development Fund in May, and this is the first project it has funded.
Because Trompeter was loaned the entire amount, there won't be any more grants or loans in this budget year, City Manager Bob Herbert said. Council may decide to earmark additional federal funds for the program next year.
The judge said city officials approached him more than a year ago about rehabilitating the property, and at one point, they even offered the $100,000 as a grant that wouldn't require repayment.
But "for appearance's sake," and because Trompeter is a prominent public official, he wanted a loan instead. The terms require it be repaid over 10 years, or within five years if he hasn't invested a minimum of $400,000.
Herbert said the council vote came after a closed executive session, because members had little advance knowledge of the loan contract, which was worked out by the city's economic development staff.
"We always try to brief them on contracts before we bring them out in public," Herbert said.
Council often meets in closed sessions for discussions of real estate purchases, contracts, economic development initiatives, litigation and personnel matters.
by CNB