Details are scarce as to how the collapse of the Delta Feed Co. building’s south-facing wall will affect the Howard’s End development, a proposed $8 million project to create almost 37,000 square feet of commercial and residential space in downtown Greenwood.
The project, which was first brought to light last summer, would revamp four historic buildings into commercial and residential space — the Delta Feed Co. building, located on Main Street; the Antoon Department Store building and the Steele Furniture building, both at the corner of Main Street and Carrollton Avenue; and the Meechum building on Carrollton Avenue.
Husband and wife Blake and Leah Ferretti, who are real estate managers in Cleveland, had expressed interest in purchasing and revamping the four buildings.
Brantley Snipes, executive director of Main Street Greenwood, has assisted the Ferrettis, though outside of her role with Main Street.
The project would make use of state and federal tax credits available for developing in a low-income or historic area. However, Snipes said in a text message Thursday, “Even with the new market and historic tax credits, we couldn’t generate enough capital to finance Howard’s End as it was initially structured.”
Snipes said a restructuring of the project was in process until the COVID-19 pandemic halted the work.
However, “the new structure that is in the works is something for us to all get very excited about and work will continue on this project until we figure out the way forward and preserve the rest of the structures involved,” she said.
Blake Ferretti said Thursday that he’s aware of the Delta Feed building’s condition. He also acknowledged that there is a restructuring plan for Howard’s End, saying the intention is to still use all four of the buildings.
He declined to elaborate on the specifics of the restructuring plan.
The Delta Feed building would have to be purchased from its owner, Jenifer Jones Houston. Ferretti said he didn’t know if the building could be restructured for the development project.
“I’d like it to be,” he said.
The COVID-19 pandemic has further complicated matters, he said: “Everything’s kind of put on hold.”
Howard’s End is an “extremely complex, extremely complicated project,” he said, adding, “Things like this could easily fall apart.”
•Contact Gerard Edic at 581-7239 or gedic@gwcommonwealth.com.
