Bank building put into local hands

Richmond Neighborhood Restoration continues its work in downtown Richmond with acquisition of the former U.S. Bank building in the 800 block of East Main Street.

RNR’s acquisition maintains local control for the building and the 60-lot parking lot across Eighth Street, according to a news release. The project is in partnership with Revitalize Richmond, a strategic funding initiative by Earlham College.

“This project will not look like our traditional projects,” said Roxie Deer, executive director of RNR. “We wanted to secure this building using the Revitalize Richmond funds to prevent the building from falling to out-of-town owners.”

RNR will now work with developers and community partners to determine the best use for the building that includes three original vaults, two elevators, a mezzanine and private office spaces. It was vacated during 2020. 

In the past some downtown Richmond buildings have been bought up by out-of-town investors who allowed them to deteriorate or be used for purposes that clashed with local businesses.

“The potential this building has for our downtown is immeasurable,” said Dakota Collins, director of community relations for Earlham. “We are working with all major stakeholders to identify its end use, but we can sleep a bit easier knowing that the ownership is with a trusted local nonprofit.”

In downtown Richmond, RNR also is currently rehabilitating the former Readmore building.