Media Coverage
Lawyer plans to renovate 1925 building in Suffolk
By Aaron Applegate, The Virginian-Pilot, February 22, 2006
SUFFOLK — A historic downtown apartment building has been purchased by a Virginia Beach lawyer, who plans to renovate it into luxury units.
The $1.7 million sale of the Suffolk Towers is the latest in a slew of deals to bring upscale urban-style housing to downtown Suffolk, an area on the rebound after years of economic stagnation.
“Over the next few years, we’re going to see a big transition in downtown Suffolk, and I want to be part of it,” said Scott Alperin, the new owner.
The eight-story brick building on the corner of North Main and Market streets is the former Hotel Elliott, which was completed in 1925.
A real estate lawyer, Alperin bought the building from TLT Investments LLC. He said he plans to use state and federal historic tax credits to help pay for renovations.
The building has 59 apartments, and four businesses on the first floor including Baron’s Pub, The Moose Cafe, a beauty salon and a carpet store.
No immediate changes are planned for either the businesses or housing units, and Alperin said he hopes to start apartment renovations in two to three years.
“It’s going to take a while to meet with an architect and get a plan, as well as deal with the historic preservation folks,” he said. “It’s not going to be something that’s imminent like some of the other downtown projects.”
Alperin said he will try to minimize disturbance to tenants when renovations start by working in phases and moving tenants who want to stay into different units.
Other than receiving a letter informing them of the sale, tenants aren’t sure about what changes to expect, said Olive Riddick, a 23-year resident of Suffolk Towers.
“People don’t know a whole lot,” she said Monday.
Riddick, a widow who said she pays about $400 a month for a one-bedroom apartment, hopes to live in the building for the rest of her life.
The Suffolk Towers renovation will join three other upscale residential projects in various planning stages within walking distance of the downtown business district.
The projects come on the heels of a surge in new businesses partially sparked by a conscious city effort to pour public money into downtown area projects including the Suffolk Center for Cultural Arts, the Hilton Garden Inn and Suffolk Conference Center and city office rentals in some downtown buildings.
“This is the return
on investment for us,” City Manager Steve Herbert said. “We’re
getting people to come back and live and be part of the downtown.”
