Developers carry torch of downtown revitalization

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Downtown Springfield is not yet buzzing quite like Springfield planners and area developers have envisioned, but that doesn't mean the area is short on activity.|ret||ret||tab|

Developers have shouldered revitalization and are carrying the city's visions one project at a time.|ret||ret||tab|

"I just love old buildings," said developer Scott Tillman, who is a frontrunner in the center city rehab scene.|ret||ret||tab|

Tillman's quest for a revitalized downtown began in 1985, but it's been in the last two years that his work has changed the landscape. He now owns seven downtown buildings; among them are the buildings housing Agrario restaurant on Patton, Churchill Coffee Company on South Campbell, Well-Fed Head Books at Walnut and Campbell and his current project, the former Mansfield Opera House on South Avenue.|ret||ret||tab|

Tillman is investing about $900,000 to convert the five-story historic landmark at 315 South Ave. into retail, office and restaurant space. The first floor retail space is planned for completion in May and the remaining work a 13,000-square-foot restaurant and 14,000 square feet of office space is set for September, Tillman said.|ret||ret||tab|

But come fall, other projects will be calling his name. "I have some more stuff in the pipeline," Tillman said.|ret||ret||tab|

He recently purchased two buildings 319 N. Main Ave. and 312 E. Olive St. and is looking to create retail space for tenants there.|ret||ret||tab|

"I'm trying to get more retail down here," he said. "I think that's what there is a lack of."|ret||ret||tab|

The retail void will grow this summer when A&B Cycle relocates to south Springfield. Owner Rich Howell is constructing a $750,000 building at National Avenue and Primrose Street. |ret||ret||tab|

The longtime retail destination downtown since 1925 will leave a 22,000-square-foot hole in the real estate market. But Howell, who owns the building at 220 W. Walnut St., has no doubt it will be put to good use.|ret||ret||tab|

"I can wait around and bring in a quality tenant if they don't equal what we contributed to downtown, hopefully they can exceed (it)," he said.|ret||ret||tab|

Howell is talking with three parties on lease options and he has two potential buyers. He said the lease rate is $6-per-square-foot net, while he is seeking about $927,000 from a sale.|ret||ret||tab|

He said the ground floor has restaurant potential, and the second floor will most likely be converted into lofts.|ret||ret||tab|

City planners say more downtown apartments are a good idea. According to a recent downtown real estate market study released by the city, new housing units are in demand. The report, compiled by Southwest Valuation LLC's Rick Muenks, says that downtown can support as many as 300 new housing units based on the number of workers in the area.|ret||ret||tab|

"We need more housing," said Bill Weaver, Springfield research coordinator. "What (the study) is saying is that there is a demand for housing and a shortage of supply."|ret||ret||tab|

Loft apartment developer Jason Murray hopes the study's findings are true. Murray has 31 downtown lofts and is creating five more in the 500-block of West College.|ret||ret||tab|

However, Murray has found it a tough market for his office/restaurant space at the corner of Market and College, which has been available since late last summer.|ret||ret||tab|

Architect Dan Scott has come up empty on a couple renovated spaces as well. Scott has office space in the 400-block of South Campbell Avenue and restaurant/office space in the 300 block of West Pershing Street.|ret||ret||tab|

"We've had a good amount of interest but haven't got anyone to pull the trigger," Scott said. "I don't know if it's the economy or just the time of year."|ret||ret||tab|

Springfield Center City Coordinator Vern Morgan doesn't have an answer either.|ret||ret||tab|

"I don't know exactly why those two spaces are still vacant," Morgan said. "It's taking longer than we'd like for it to."|ret||ret||tab|

Morgan said the city is working with the Downtown Springfield Community Improvement District to devise a marketing plan to help developers identify buildings that would best suit their plans and businesses "so that if someone is looking downtown and they are in the antique business, we could show them a map of where a cluster of antique business can do well."|ret||ret||tab|

Scott is not discouraged by the vacancies.|ret||ret||tab|

"I'm certainly willing to take on other projects. I've got one in the works," he said, adding that he expects to make an announcement on that project in about 60 days.|ret||ret||tab|

Looking farther down the road, Scott sees an opportunity to build new housing downtown in the form of condominiums. He said he'd target empty nesters and sell the condos in the $200,000 range.|ret||ret||tab|

"I'm not sure we're quite there yet. We still have too much existing inventory sitting empty," he said. "Once we get some of those buildings filled up, then I think it will make sense to start looking at new (construction) projects."|ret||ret||tab|

That's where Tillman comes in with his knack for making the old new again.|ret||ret||tab|

"One thing about downtown is that you can take (a vacant building) and make it an opportunity," he said. "You have to let the building guide you with what to do with it."|ret||ret||tab|

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