Devreco, LLC, a locally owned and operated full service development firm, is breathing new life into an iconic downtown Salisbury structure. Upon purchasing 218 W. Main Street (The Powell Building) from the Wright family of Vernon Powell Shoes, Devreco will move full tilt on redeveloping the property which is slated to include up to twenty residential urban apartments and 20,000 square feet of commercial space. Devreco is actively courting commercial users of all types – retail, restaurants and office users and will have spaces available as small as 2,000 square feet.
“We recognize the demand for multi-use space and know it falls perfectly into place with our city’s smart growth initiatives,” said Brad Gillis, Principal with Devreco, LLC. “Our visionary team is working to identify an “engine” to support economic growth and the transformation of our downtown core and Salisbury’s robust community.”
A redevelopment rendering displays a new ground level entrance on the south side of the building and separate first floor entrance that leads to the downtown plaza. First floor public space is available for offices, a restaurant or retail business. The redeveloped building will be equipped with full elevator access and offer river view office space. Plans are pending until a user is secured for the property.
The Powell Building, originally built as a Montgomery Ward in 1938, served as home to Vernon Powell Shoes for decades. The last tenant, a hair salon on the first floor, moved out of the building less than a year ago.
More about Devreco
Devreco is a full service real estate development company offering custom solutions for land purchase, building program development, turnkey project management, obtaining permits and approvals, property management, market property, purchase, lease and lease/purchase options. The team works in conjunction with architects, government planners, engineers, surveyors, inspectors, contractors and leasing agents among others to manage the development process from concept to completion.
