|Posted on 1/14/2015 7:25:00 AM.|
(Seguin) -- Downtown Seguin has received yet another feather in its cap when it comes to the investment and revitalization of its downtown historic district.
Seguin Main Street Director Kyle Kramm says the building located in the 100 block of South Austin Street, recently sold to a group of private investors with a passion for historic properties.
"TLU (Texas Lutheran University) received the building (as a gift) from (local businessman) Gene Vivroux back in 2012 and since then, they have been trying to find a person to purchase the building. They had a few people come and look and this past August, this gentleman with some of his fellow investors met with TLU and toured the property and started to do their due diligence and decided to purchase the building. They ended up closing on the property last week, purchasing it from TLU," said Kramm.
Part of the building is most recently known for being home of the former Chiro Java Cafe.
"We are very grateful to Gene Vivroux for including the Vivroux buildings as part of a planned gift to the university in 2012," said TLU President Stuart Dorsey. "Thanks to his generosity, the proceeds from the sale will allow for future investments at TLU that benefit our students and support our mission."
Kramm says the group of investors, operating under RSGV Ventures, Inc, of San Antonio, is finalizing plans for the buildings, but will include some residential units and retail and office space. The buildings have housed a number of businesses in their over century-long existence, including the Elks Lodge, a coffee shop, a five and dime store, a hardware store and more. As the buildings have been vacant for a number of years, there is a need for some large repairs, including asbestos and lead paint abatements, roof repairs, and façade improvements.
Kramm says the investment is definitely key for a more vibrant and more successful downtown.
"Our goal for Main Street is to always see downtown just continue to be revitalized and brought back to life. So the sale of this building will help in that revitalization effort and encourage more people to come visit, live downtown and it'll also help the existing businesses because if you have more things to do downtown, more people will come and shop at the other stores as well," said Kramm.
This investment is one of several made in the historic district during the past several months. The Seguin Art League recently purchased the building at 104 South Austin with plans for renovations to transform the building into an arts center and work on transforming the Plaza Hotel into a restaurant, retail and hotel venue are underway by another investor group.
|downtown Seguin, Vivroux Building, Seguin Main Street|