By Amanda Raymond

amanda.raymond@salisburypost.com

The Salisbury City Council has approved a downtown revitalization incentive grant for the Wallace Dry Goods building on East Fisher Street.

During its meeting on Tuesday, the council heard a presentation by Paula Bohland, from Downtown Salisbury, Inc., and Robert Van Geons, executive director of RowanWorks, the county’s economic development organization.

The grant program offers a total of $200,000 for the project at the Wallace Dry Goods building, 114-118 E. Fisher St. The project consists of converting the upper floors into 14 new apartments and the lower floor into commercial spaces, including a new restaurant.

Bohland said the apartments would be high-end ones.

The total amount for the grant program includes $50,000 from the Building Renovation Grant Program, $100,000 from the Residential Production Grant, $25,000 from the Residential Utilities Grant and $25,000 from the Fire Suppression Grant.

The project would be a $2.3 million potential investment in the city of Salisbury. The city would gain more than $192,000 in new tax revenue over 10 years, and the apartments alone would impact the downtown economy by more than $262,000 per year.

The restaurant would create four new full-time jobs and eight part-time jobs.

Councilman David Post asked if the noise and activities that occur downtown would bother the residents of the new apartments.

“Has there been any sort of assessment of how these 14 people, couples or families living upstairs are going to enjoy having music and activities right outside their front door?” Post asked.

Van Geons said the residents who move into the apartments will expect that noise and activity.

“That’s the vision you’ve been selling,” Van Geons said.

Councilman Kenny Hardin said the new restaurant will add more diversity to the restaurant scene.

“We need to have more things that are different, that are going to attract people,” he said.

Mayor Karen Alexander said the apartment project could be a catalyst for something to happen with the Empire Hotel.

“It’s always incremental, but yours is a large enough project with 14 units that it will make the kind of impact that will draw the developers from other areas to come and take a look at our community,” she said.

The council approved the grant unanimously.

The target completion date for the project is December of 2016.

In other business, the council:

• adopted an ordinance to annex 18.42 acres for Corbin Acres Phase 2
• issued a permit for operation of a pool hall at South Gate Barbers and Billiards on Mooresville Road.
• Adopted a resolution giving City Manager Lane Bailey permission to apply for a $200,000 Main Street Solutions grant for a new brewery and restaurant project on North Lee Street

Contact reporter Amanda Raymond at 704-797-4222.