The former YWCA building at 605 First St. in downtown Roanoke has new owners.
A developer, under the company name of First and Franklin LLC, has purchased the property for $615,000. Michael Waldvogel of Waldvogel Commercial Properties, who brokered the sale, said the new buyers are still evaluating the building in order to determine specifically what it will be used for. But part of it will likely be turned into a residential project.
“It’s fair to say there will be a residential component to it,” he said. “It’s one of the more interesting buildings downtown.”
The 28,167-square-foot building was constructed in 1930 as Roanoke’s YWCA. It provided housing and recreation for young women, and later shelter and educational assistance for homeless women. In 2011, the YWCA merged with DePaul Community Resources, a Roanoke-based nonprofit for families with special needs. The building has been vacant ever since.
Waldvogel Commercial Properties also serves as the leasing and property management of the Ponce de Leon, a downtown historic building that was redeveloped by Faisal Kahn and reopened Aug. 1 as an apartment complex.
Waldvogel said that they have leased nearly all 90 apartments in the Ponce de Leon, and that downtown is not yet over-saturated with residential spaces.
“There is still a lot of interest in it,” he said.