An auction is scheduled Thursday for a piece of Greenwood’s historic downtown.
The former site of Antoon’s Department Store, located at the corner of Carrollton Avenue and Main Street and built in 1908, is up for bid. Any bids will be opened at 2 p.m. at City Hall.
No minimum bid is required.
Main Street Greenwood is conducting the auction. Brantley Snipes, the organization’s executive director, said Monday that no bids had been received to her knowledge.
“I’m excited, and I’m kind of nervous,” she said.
The property, donated by Nazira Antoon, has not housed a business in at least 10 years, Snipes said.
The 13,340-square-foot brick building is zoned commercial. Restoration of the structure, with strict adherence to historical preservation rules, is a requirement for bidders, she said.
Bidders must agree to follow historic covenant requirements for their bids to be successful. In return, they can receive tax credits for the renovations.
The building’s location alone makes it a valuable property to flip. If it is sold, Antoon can take a tax break on the property.
“It’s a wonderful location. We’re trying to get one spark down there, and we’re hoping this is that spark,” Snipes said.
The auction is the first of its type in the state, she said. The money Main Street receives will go to the Revolving Real Estate Fund, where it can be used to improve other buildings or make more properties for sale.
This program, modeled after one in North Carolina, may be used for other downtown commercial buildings if successful. Main Street held an open house on Nov. 1, which drew a lot of attention, Snipes said.
For more information on Main Street’s program, visit www.mainstreetgreenwood.com.
• Contact Bob Darden at 581-7239 or bdarden@gwcommonwealth.com.
