On The Move
Sale of 100 Year-Old Navy YMCA Waves in New Beginning
Dec 2, 2009
COLUMBIA, SC - December 2, 2009 - At today’s monthly meeting of the Downtown Norfolk Council, it was announced that the 100-year-old Navy YMCA , corner of Brooke Ave. and Boush St., is being purchased for an undisclosed amount by US Development Co. (USD), headquartered in Columbia, SC, and Hillier Enterprises, owned by local Hampton Roads businessman, Luke Hillier.
US Development’s business model consists of targeting historically significant buildings in central business districts of mid- to large-sized cities in the Southeast. The company then develops these structures into mixed-use residential, market-rate apartments and commercial properties.
In making the announcement, Norfolk Mayor Paul Fraim said, “We are proud to welcome US Development to Norfolk, and we’re excited about their plans for the Navy YMCA building. The structure, originally gifted to the community in 1909 by John D. Rockefeller to accommodate Navy enlisted men, is one of downtown’s most significant historic buildings.”
Representing USD was company President David Bryant and Jeff Prioreschi, executive vice president. “This is truly a momentous day for us,” said Bryant. “We, along with your city leaders and officials, have been working on this venture for 18 months and to see all the planning and negotiations come together is a great way to end the year.”
Bryant also revealed the building has been named The Rockefeller in honor of its donor. Early plans call for mixed-use redevelopment, with street-level retail shops and luxury apartments slated for the upper floors.
Hillier Enterprises is a Joint Venture Partner with USD. Hillier expressed that he is“…genuinely excited this is happening in the community where I live. It will be a pleasure to see this Rockefeller building restored to its original beauty and expanded purpose. It promises to be a superb example of what can be accomplished with vision and purpose.” Hillier and Jeff Prioreschi were college friends and fraternity brothers at Old Dominion University.
Columbia Mayor Bob Coble said in a written statement: “US Development’s founders, David Bryant and the Prioreschis, are visionary developers for Columbia’s city center. They believed in our downtown renaissance, and even more important, they have the skills and experience to carry out their dreams.”
Although in the early planning stages, Bryant and Prioreschi explained their initial plans call for a self-contained development within a development. The Rockefeller will spotlight high-end apartment homes with the following amenities: a grand-entrance lobby; restoration of the indoor pool; a clubhouse; fully equipped gym; a rooftop terrace; Zen garden; and outdoor kitchen.
US Development’s operations began with using the accumulated 100-plus years of real estate development of its founders to install methods, systems and procedures for finding, analyzing, developing, marketing and operating profitable real estate ventures. Along with Bryant and Jeff Prioreschi, Tom Prioreschi serves as Chief Operating Officer of the company.
The Naval YMCA, a gift from John D. Rockefeller, was formally dedicated March 17, 1909. A report from The New York Times reported that William Sloane of New York presided at the dedication and read letters from Rockefeller and President William Howard Taft and Secretary of the Navy George Meyer. The building cost was $300,000 and touted as “one of the finest structures in Norfolk…..and is a model for the accommodations of the enlisted men of the Navy.”
By the early 1970s, there was diminishing need for the Navy Y, and the Union Mission Ministries bought the 81,000 sq. ft. building. Several years ago, the mission announced its plans to move to a 24-acre site on Virginia Beach Blvd. as soon as the building was sold.
The Brooke Ave. property is listed with Harvey Lindsay Commercial Real Estate. Lindsay agreed to represent the seller with no gratuity to his firm. The building is included on the Historic Register as a part of the Downtown Norfolk Historic District. It is also on the Virginia Landmarks Register. The Norfolk Preservation Alliance names the building as one of Norfolk’s most endangered historical buildings, and it is one of 11 of the most-endangered in the state.
