For immediate release
Richmond Neighborhood Restoration is thrilled to announce the sale of 720 and 724 East Main Street to the City of Richmond’s PLACE Program on July 11, 2024.
RNR purchased the property from Jeanne Rush in 2021 for renovation efforts to take place on the second and third floors. In partnership with the City of Richmond, the Redevelopment Commission, the Economic Growth Group and RNR, the renovation costs included a complete demolition of the upper floors, new HVAC, plumbing, and designs that match a modern look for a historic building. The renovation created three 1 bedroom apartments, one 2 bedroom apartment, and a large office space.
The PLACE (Placemaking Loans Accelerating Community Entrepreneurs) program is operated by the City of Richmond's Community and Economic Development Revolving Loan Fund Board. The purpose of the program is to provide entrepreneurs with opportunities to accelerate their businesses. The program allows entrepreneurs to apply for a downtown building with subsidized lease payments during the first 5 years.
Roxie Deer, Executive Director of RNR says, “Secret Ingredient is an incredible accomplishment for our downtown district. It is the first of many projects that will bring life and movement back to the heart of our community. We are thrilled to show this renovation off to our community and cannot wait to announce our next property downtown.”
Dave Stidham from the Economic Growth Group says, “It’s a great improvement to Main Street and will hopefully encourage others to make investments in the district.”
Richmond Neighborhood Restoration is a local 501(c)3 that revitalizes Richmond’s historic neighborhoods through community building, citizen participation, and preserving our local legacy. To date, RNR has completed five residential properties and Secret Ingredient is the first commercial building they have completed. RNR is currently working on a residential property on North 12th Street with plans to continue working in downtown Richmond, utilizing funds from the Revitalize Richmond grant from Earlham College.
To learn more about the PLACE program please contact Beth Fields at the City of Richmond. To learn more about Richmond Neighborhood Restoration visit RNRinc.org.
###
RNR purchased the property from Jeanne Rush in 2021 for renovation efforts to take place on the second and third floors. In partnership with the City of Richmond, the Redevelopment Commission, the Economic Growth Group and RNR, the renovation costs included a complete demolition of the upper floors, new HVAC, plumbing, and designs that match a modern look for a historic building. The renovation created three 1 bedroom apartments, one 2 bedroom apartment, and a large office space.
The PLACE (Placemaking Loans Accelerating Community Entrepreneurs) program is operated by the City of Richmond's Community and Economic Development Revolving Loan Fund Board. The purpose of the program is to provide entrepreneurs with opportunities to accelerate their businesses. The program allows entrepreneurs to apply for a downtown building with subsidized lease payments during the first 5 years.
Roxie Deer, Executive Director of RNR says, “Secret Ingredient is an incredible accomplishment for our downtown district. It is the first of many projects that will bring life and movement back to the heart of our community. We are thrilled to show this renovation off to our community and cannot wait to announce our next property downtown.”
Dave Stidham from the Economic Growth Group says, “It’s a great improvement to Main Street and will hopefully encourage others to make investments in the district.”
Richmond Neighborhood Restoration is a local 501(c)3 that revitalizes Richmond’s historic neighborhoods through community building, citizen participation, and preserving our local legacy. To date, RNR has completed five residential properties and Secret Ingredient is the first commercial building they have completed. RNR is currently working on a residential property on North 12th Street with plans to continue working in downtown Richmond, utilizing funds from the Revitalize Richmond grant from Earlham College.
To learn more about the PLACE program please contact Beth Fields at the City of Richmond. To learn more about Richmond Neighborhood Restoration visit RNRinc.org.
###
