downtown Greenwood law firm’s former building is on track to become a restaurant and new offices.
The Van Valer family sold their two-story historic law office building at Main Street and Madison Avenue this month for $200,000 to a company that redevelops office buildings and shopping centers. The buyer, Indianapolis-based Paradigm Real Estate Investments, is leasing the first floor of the building to a restaurant and is negotiating with other potential tenants about renting the upstairs.
The restaurant isn’t part of a chain, will employ 35 to 40 people and will use 4,500 square feet of the building. The restaurant, named Revery, will serve American food, such as Indiana cheese curds with sausage, hamburgers, house-cut fries with gravy and fresh seafood flown in from Chicago, chef and owner Mark Henrichs said.
The restaurant is slated to open in August, will seat 120 people and have outdoor dining in what is currently part of the parking lot. The restaurant will use locally grown meat and local beers and wines as it can, Henrichs said.
The second floor of the 9,000-square-foot building at 299 W. Main St. will be divided among office tenants. Paradigm will renovate the interior of the 1800s building and is interested in updating the exterior through a facade grant program Greenwood is pursuing.
Paradigm president and chief executive officer Brent Benge declined to discuss how much is being spent to update the building.
The Van Valer Law Firm moved this week to 225 S. Emerson Ave., where the city of Greenwood’s planning, zoning and community development services departments are housed. The city offices on Emerson Avenue will move to the new city hall at 300 S. Madison Ave. next month.
The old Van Valer building was an appealing buy because it has a corner location with a 30-space parking lot, Benge said. Paradigm also likes Greenwood’s vision for the old downtown area, Benge said.
“I think Greenwood could do something really, really great with Main Street. I think they’re taking the right step with moving the city center right there in the old Presnell building,” he said. “(Van Valer) is just a great building, and we’re excited to be a part of the redevelopment of Main Street.”