The Columbus Dispatch wrote Gay St. building sold at auction
Tuesday, October 9, 2007
By Mike Pramik
Out-of-state investors offered the winning bid of nearly $1.5 million for the four-story building at 1 E. Gay St., the former headquarters of Modern Finance and also a Dollar Federal Savings Bank office. The circa-1900 building was empty for two years after being abandoned by two bankrupt companies, Modern Finance and WorldCom.
“They’re going to put a lot of money in it, without question,” White said. “There are many possibilities for this building, one being office and retail for the first floor, office on the second, and the third and fourth could be converted to residential.
It also could continue the momentum to breathe life into Gay Street. The city is digging up parts of the street in a $6.8 million beautification effort that will open the street to two-way traffic.
Just to the south along High Street, Casto’s office-condo project called Broad & High is progressing toward completion in 2008. And Jeff Edwards’ large townhouse development along Gay Street east of 4th Street was designed to create a village atmosphere. The Columbus Chamber is trying to sell its headquarters before its anticipated move into the Lazarus building next year.
Related Stories:
– Modern Finance Building being auctioned off
– Times Square Light at Broad & High