Downtown Development Authority buys Fayetteville home
The Fayetteville Downtown Development Authority has purchased a 1.79-acre tract at 195 Stonewall Avenue near downtown. The tract is expected to play a significant role in the upcoming expansion of the downtown area after the approval of the Downtown Master Plan by the Fayetteville City Council.
Situated between Stonewall Avenue and Lanier Avenue, on the west side of downtown, Downtown Development Director Brian Wismer said, “We are pleased to finalize the purchase of this historic land parcel, which will play an important role in our ongoing Fayetteville Downtown Master Plan. Preserving the historic home was of primary importance to us.”
Wismer said DDA wanted to control the fate of the historic home situated on the property, rather than seeing it destroyed. He said the property was acquired for a price of $499,000.
The site, approximately one block west of downtown also includes a historic home built in 1903, which originally belonged to the Lester family. Development authority officials said the building could eventually be converted for office or commercial use, according to Randolph Williamson representatives, the Peachtree City-based commercial real estate and construction services firm that handled the sale of the property by JM Garden Properties, LLP.
“We look forward to sharing more news on our plans for the site in the months ahead,” said Wismer, noting that the property plays into the outlook put forward by the Downtown Master Plan and the recently approved Fayetteville Comprehensive Plan that saw more than 500 citizens involved in the process.
The property is currently zoned for commercial/other use, with more than 30,000 vehicles per day traveling through the area, Randolph Williamson said.
While in the works for the past few years, the City Council is expected to vote on the final version of the Downtown Master Plan early next year.
As originally conceived, the area encompassed in the Downtown Master Plan area includes nearly 80 acres extending from the Fayette County School System property on Stonewall Avenue, to privately-held property on Grady Avenue and over to Ga. Highway 54. Much of the area between Stonewall and Lanier is also included in the master plan area.
Initial thoughts on land use for the master plan area included office and retail near downtown, with single-family residential along Grady Avenue.
“The city of Fayetteville has been a valued partner of ours for many years,” said Brent Randolph, principal of Randolph Williamson. “This transaction moves the Downtown Development Authority closer to its goal of achieving a downtown that will retain its historical integrity and charm while providing residents and businesses with new opportunities and an updated atmosphere. Both professionally as a local business and personally as neighbors, we look forward to seeing the Fayetteville Downtown Master Plan brought to life.”
