Some investors might still consider downtown Gastonia a residential and commercial risk. John Ghencian isn’t among them. When he bought a building in the heart of the city’s historic business district a year and a half ago, he saw it as a steal. Ghencian (pronounced GINN-shahn), who owns Mooresville-based Eurostar Construction, has already renovated the upper level of the two-story building at 200 W. Main Ave., creating a pair of upscale apartments and an office. He soon plans to fill the ground-floor commercial space with an ice cream parlor and a coffee and sandwich shop, or something similar, to reap the benefits of the prime location. “I think it’s the best spot in the whole downtown, and it’s going to be the best for the next 20 years, because all the downtown events are scheduled right there, in front of my building,” said Ghencian. “I don’t think I can go wrong.”
Downtown subsidy possible
On Tuesday, Gastonia City Council members will consider approving a $7,500 grant to supplement the investment Ghencian made on the second floor. Depending on what further improvements he makes to the building’s façade and first-floor interior in the coming months, he could be eligible to apply for $4,500 more in assistance. Ghencian emphasized he has already spent $140,000 to redevelop the building, which goes well beyond what the city might pitch in. But every little bit helps. A City Council subcommittee has recommended approving the $7,500 grant. Gastonia created its IDEAL program — which stands for Investment in Downtown Economic Assistance and Livability — in March 2009 to spark retail and commercial growth. The program is funded by a tax paid only by property owners in the “municipal service district” downtown. City Council members only budgeted $18,200 for IDEAL grants this year, as they did last year. Of the roughly $115,000 that will be collected in the special downtown tax district, the majority — about $60,000 — will be used to help pay debt from construction of the Gastonia Conference Center.
Big plans ahead
The building at 200 W. Main Ave., built in 1950, has about 3,800 square feet and formerly housed legal offices. Ghencian bought it for $100,000 in September 2012 after seeing how it overlooks the Rotary Centennial Pavilion, as well as the brick sculptures and water fountain in the South Street Pedestrian Plaza. Those are always the hubs of activity for downtown events, from summer concerts and holiday festivals, to occasional weddings and the annual Run for the Money. Ghencian’s extensive redevelopment of the upstairs produced two upscale apartments. Each has around 800 square feet, with two bedrooms and one bathroom. The work was finished last July, and both units were leased two months before they were even ready for occupancy. “You can see Spencer Mountain from up there,” said Gastonia marketing manager Rachel Bagley. “It’s a really nice view.” Ghencian also bought an attached 468-square-foot building on the back corner of 200 W. Main. He plans to install an outdoor patio that will beckon visitors into the eatery or shop he expects to open there. “I want to create a nice, clean family place for everybody,” he said. “I see it being a business that sells ice cream, coffee, maybe European pastry.” He also envisions having a coffee roaster with “our own special recipe.”
The day-to-day foot traffic downtown isn’t as heavy as desired yet, said Ghencian. But with all the other commercial activity sprouting downtown, he believes that will improve, and he’ll be there to capitalize as it does. “I want to create something unique where people can relax,” he said. You can reach Michael Barrett at 704-869-1826 or twitter.com/GazetteMike.