Key Project Team Members Announced for Historic Saloon Redevelopment

Architect, Tax Credit Consultant and Finance Partners Announced

Christman Capital Development Company and its affiliate Rentenbach Constructors Incorporated have announced the selection of several key project team members for the $3 million redevelopment of the historic Cascade Saloon in downtown Greensboro, NC. The building, located in Greensboro's S. Elm Street Historic District on the National Register of Historic Places, was recently announced as the planned site of the future regional offices of Rentenbach, a North Carolina and Tennessee-based construction management and contracting firm which merged in 2013 with Christman's own construction services firm.

 

Partners joining the effort already underway by Christman, Rentenbach and Preservation Greensboro Development Fund, Inc. (Preservation Greensboro) which advocated for a decade against the Saloon's demolition and secured title to the Saloon from the City of Greensboro as well as private donor funding toward stabilization costs are:

 

Project Architect: Tise-Kiester Architects, P.A. (TKa), Chapel Hill, NC - Founded in 1987, TKa is a professional architecture and planning firm with a large, diverse portfolio throughout the Southeast, with strong expertise in sensitive renovation and restoration of historic buildings. In its role as project architect, TKa will be providing complete design services for transforming the approximately 8,000 s.f. historic structure into corporate office space for Rentenbach and Christman. For more information, visit www.tisekiester.com.

 

Tax Credit Consultant: Four over One Design, Durham, NC -With a portfolio of multiple successful projects in the Triangle area, Four over One Design (4/1) is a woman-owned preservation design and consulting business specializing in projects involving historic restoration and renovation. Principal Sara Davis Lachenman will be providing assistance in identifying guidelines and preparing the detailed documentation required to qualify the project for all applicable historic tax credits. For more information, visit www.fouroverone.com

 

Project Financing: First Citizens Bank, Raleigh, N.C. - Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank is the largest family-controlled bank in the U.S., with offices in 18 states. First Citizens Bank is a major subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), which has over $30 billion in assets. First Citizens is providing debt financing services for the project. For more information, visit firstcitizens.com.

 

"We are truly excited about the strong and collaborative team of experts assembled for this cool, landmark project," said Tim Gray, senior vice president of Rentenbach. "This project signifies the commitment of Christman and Rentenbach not only to Greensboro and the Triad, but to downtown revitalization. This significant monetary investment of capital represents a long-term investment towards the vibrancy and health of downtown. We want to be part of that revitalization and plan on being a partner to Greensboro for years to come. We understand the anticipation and excitement over watching this project unfold, and can't wait to share the progress and finished transformation with the community."

 

The project to redevelop and rehabilitate a functionally obsolete yet historically important building that is under demolition order and was once labeled "unsalvageable" by some will be achieved through a public/private partnership which includes Christman, Preservation Greensboro, and Rentenbach as well as the City of Greensboro and the North Carolina State Historic Preservation Office.

 

Design for the project is currently underway in conjunction with development planning, with the intention of design finalization in the next few months, construction start in late 2015, and project completion in 2016.

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