Sell it.

That might be one way to stop all the hand-wringing about the uncertain future of the increasingly shabby City Market Building in downtown Roanoke.

City Manager Darlene Burcham said Monday that selling the building could be one alternative to spending $2 million to $3 million, or more, to renovate the money-losing, circa-1922 structure.

Burcham emphasized that Roanoke City Council would have to decide whether such a sale is a viable option.

"It's not one the council has ever really discussed," Burcham said.

But sold to whom? And for what purpose?

As downtown development continues -- a trend especially evidenced by the growth of residential housing -- there seems to be a new sense of urgency among downtown advocates about sprucing up and fully utilizing the city-owned market building.

If the city decides to sell the building, who might buy?

Perhaps the Roanoke Foundation for Downtown or another group that might shepherd a public-private partnership -- a collaborative, redevelopment effort akin to those that have helped create Jefferson Center, the Roanoke Higher Education Center and other key amenities downtown. Historic tax credits could help pay for renovations.

As things stand, one block from the new art museum's shiny angles, the market building looks a bit like Cinderella before the ball. It's dingy, ragged around the edges and dimly lit.

Cinderella had a fairy godmother. For now, the market building has the city council.

Bill Carder, the recently hired executive director for Downtown Roanoke Inc. and manager of the Foundation for Downtown, said he and many others believe renovation of the city-owned market building must move quickly forward.

"We are floating out there the idea of the foundation doing the renovations," Carder said. He described similar market structures in other cities that house a vibrant mix of offerings, including food vendors.

He said other groups might be interested in playing a similar development role.

The building's assessed value, according to tax records, is about $2.7 million.

Burcham said the city "did have an individual express an interest in the property about a year, year and a half ago." But the prospective buyer had insisted the market building be vacant before the sale, she said, to avoid ties to leases with vendors and retailers. Today, the building has 16 tenants -- 11 food vendors, four retailers and one nonprofit.

Beth Doughty, president of the Roanoke Regional Chamber of Commerce, said the chamber has encouraged the city to make the market building a priority for capital spending.

"That building is critical to downtown," Doughty said.

In a recent letter to Mayor Nelson Harris, Marilyn Burrows, chairwoman for the Roanoke chamber, said market building renovations should be more of a funding priority than construction of a stepped plaza adjacent to the walkway linking downtown to the Hotel Roanoke.

City revenues from the building's food court and retail operations have not covered expenses in recent years. Operations lost about $122,000 in fiscal 2007, according to city figures. The city has managed the facility since Advantis Real Estate Service resigned as manager in April 2005. Previously, Fralin & Waldron, a local firm, had long managed the building.

City Councilman Brian Wishneff said that, ideally, the market building would be in prime condition.

"Unfortunately, the city has a terrible track record of maintaining buildings," he said. Wishneff was at the forefront of ultimately unsuccessful efforts to save the dilapidated Victory Stadium.

City Councilman David Trinkle said in an e-mail that the city is "fortunate to own and be able to direct the operations of perhaps the most visible and, culturally, historically valuable building in Roanoke."

Trinkle added, "Any sale, donation, etc. of this property would have to be carefully considered," with possible conditions that the city could take back the property, if necessary.

For now, Trinkle said, "I believe the best option is to keep it in the city's hands."

City Councilwoman Gwen Mason said she wants to hear all options and meet with stakeholders before deciding how to proceed.

One stakeholder is food court vendor Anita Wilson, co-owner of Burger In The Square and Nick's Pig'n Chicken.

Wilson said businesses in the market building need to know soon what their future holds. She's wary about changes in leases. She's concerned about what will happen to vendors during first-floor renovations. And she and other tenants oppose a plan that could dramatically change the layout of the ground floor.

What's needed, she said, is "some freshening up" and finding a use for the three-story building's upper floors.

On Tuesday, Will Hooper and his dining companion Jacob Bruck said the restrooms at the building need an overhaul.

That same day, the wall of one stall in the men's room was smeared with excrement.

The city council has approved funding to renovate the bathrooms.

Jason Hedgepath, Marilyn Hedgepath and Dawn Ferris, eating lunch at a mezzanine table, all cited replacing the carpeting when asked how they might renovate the building.

Jamie Butler of NetVentures Corp. said that when his company's training sessions break for lunch, trainees like the dining choices offered by the food court. He does not favor altering its operations.

Burcham and the city council will resume the market building discussion during a work session planned for the morning of Jan. 7.

Staff writers Mason Adams, Christina Rogers and Jenny Kincaid Boone contributed to this report.