And thanks to some local entrepreneurs with a high tolerance for dust, mildew and dead critters - and a city employee promoting downtown Temple - these folks are in for a treat.
That’s because the historic Cotton Exchange Saloon building on South First Street is one of five state finalists for the 2008 Best Renovation/Rehabilitation award presented by the Texas Downtown Association.
The winner will be announced at the conference on Nov. 13.
Jill Hopper, Karen Steeves and other investors worked on the building for two years. Some parts of the building smelled so bad, Ms. Hopper said she had to wear a facemask. The group poured about $50,000 into the restoration project.
Today, Ms. Hopper and Ms. Steeves operate Design Center of Central Texas out of the bottom floor of the two-story, 4,800-square-foot, red brick building.
Ms. Hopper remembers well the first time she saw the building’s interior. It was the original, amber-colored tin ceiling that closed the deal.
“That’s what drew us to the building,” Ms. Hopper said. “We were just like, ‘Oh my god, we’ve got to have this place because we love the roof so much.’”
Nancy Glover, Temple Tourism marketing coordinator, said the recent renovation and history of the building provides a one-two combination that would impress visitors.
“These folks that are coming in for this conference are all downtown revitalization professionals and they all love history,” Ms. Glover said. “They love old historic buildings with colorful pasts.”
“Colorful past” may be an understatement.
Ironically, the building was never used for buying and selling cotton. Its history has more to do with debauchery than agricultural commodities such as cotton. Looking at the building’s timeline, bowling, billiards and beer (emphasis on beer) were the mainstays of most of the businesses housed inside the red brick walls.
The Cotton Exchange Saloon Building, 116 S. First St., was built in 1894. The building is an excellent and locally rare example of Italianate architecture commonly used for commercial buildings during the Victorian period.
Now that the Cotton Exchange has found new life, Ms. Glover points out there are many opportunities to invest in downtown real estate.
“What we’re really hoping, more business owners like Jill and Karen come downtown and find these buildings that just need a little TLC,” Ms. Glover said. “There’s lots of buildings that have a lot of potential. So we’re just hoping people will follow their example and do the same.”
Ms. Glover also said prospective out-of-town investors often comment that downtown Temple real estate is affordable.
Greg Free, chairman of the Temple Downtown Development Alliance and downtown property owner, said the Cotton Exchange renovation could spark a First Street renaissance.
“This is the second building in that block to be renovated,” Free said. “It’s a block that still has a lot of integrity and potential. That block could be one of the most historic blocks in all of downtown Temple.”
The Texas Downtown Association is a non-profit with 400 members who promote downtown revitalization projects.
