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When one bank closes, another one opens

Prime 109, a steakhouse bent on highlighting products from three cornerstone farms, is slated to open in May in the former Bank of America space on the Downtown Mall. Staff photo

Before Bank of America closed the doors of its 1916 building on the Downtown Mall in February, we reported that a steakhouse and at least one other bank would take its place.

Loud construction noises coming from the spot last week caused us to check on its status.

Citizen & Farmers Bank will occupy an 850-square-foot suite in the 10,400-square-foot space, according to Joe Kaut, a project manager with Cville Real Estate & Construction. The bank is aiming to open by early July.

C&F did not respond to a request for comment. It is a Virginia-based bank with 27 locations in the state, according to its website, but this will be its first in Charlottesville.

Another new tenant is likely to be Pantheon Restaurants LLC—the people behind Lampo, according to Nest Realty’s Macon Gunter. Back in December, building owner Hunter Craig said a steakhouse was going into the grand banking space. Gunter declined to confirm that, but says an announcement should be coming soon.

Other as-yet-undisclosed tenants will lease office space in the building, but Kaut says he hasn’t been assigned to those projects and doesn’t know what they will be.

And for those BofA clients looking for an ATM on the mall, well, nothing has materialized on that front. Says Bank of America spokesperson Lawrence Grayson in an e-mail, “I’ll be sure to circle back when/if we do.”

 Corrected March 29 at 8:30am to reflect the correct name of the realtor.
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Steak of America: Bank building has restaurant in its future

The Downtown Mall will be Bank of America-less, but will have another steakhouse. Staff photo

When Bank of America closes its branch doors downtown in February, it leaves a grand 1916 building in its wake that will house a steakhouse, according to building owner Hunter Craig.

And while he declined to identify the grilled meat purveyor, he did say it would be locally owned, not a national chain.

Also inhabiting 300 E. Main St., which began as Peoples Bank and during its 100-year history has morphed into Virginia National Bank, Sovran Bank and NationsBank before Bank of America, will be… another bank.

“Not Virginia National Bank,” specified Craig, who sits on the VNB board of directors.

Other as-yet-undisclosed tenants will lease office space in the building.

bankofamericaInterior
The bank’s interior soars. Staff photo

 

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Bank of America to close downtown branch

The Downtown Mall will be Bank of America-less, but will have another steakhouse. Staff photo

Bank of America is closing its location on the Downtown Mall February 17, branch customers learned by letter April 20. “What, we’re closing?” a teller there asked this morning when she heard a colleague inform a customer on the phone.

Built in 1916, the structure was originally Peoples National Bank and has housed Virginia National Bank, Sovran Bank and NationsBank before Bank of America became the latest occupant, according to Margaret O’Bryant at the Albemarle Charlottesville Historical Society.

Hunter Craig’s East Main Investments LLC bought the building at 300 E. Main St. in 2008 for $6,975,000, according to city property records. Craig did not immediately return a call from C-VILLE, nor did his attorney, Steve Blaine.

“Banking has changed,” says Tim Hulbert, executive director of the Charlottesville Regional Chamber of Commerce. “People are doing most or all of their transactions electronically and rarely go into a bank.” Bank of America still will have nine branches in the area. “From the bank’s perspective, it’s efficiency,” he says.

“We’re looking for ways to consolidate,” says Bank of America spokesman Matthew Daily. He points out that there’s another branch about a mile away on Long Street, and one about 2 miles away at Barracks Road.

And while the bank does not disclose how many employees it has, it will try to find them other opportunities nearby, says Daily.

The big question is what will happen to the building, which is more than 22,000 square feet, according to city property records, and its soaring, two-story lobby.

bankofamericaInterior
Back in 1916, lobbies were grander. Staff photo

“It’ll open up space downtown,” says Hulbert. “It’s a pretty dramatic space. I suspect some smart entrepreneur will see the opportunity and seize it.”

As for BofA customers wondering about where they’ll pick up cash downtown, a bank employee who was not authorized to speak to the press said the bank is looking for space for a couple of ATMs.

Updated 3:54pm with comments from Bank of America, and with corrected square footage numbers from city property records for 300 E. Main St.