Silver to buy Fredericksburg Hardware site

September 17, 2005 1:32 am

By JOBY N. CUNNINGHAM

The area's largest real-estate developer has plans to renovate the former Fredericksburg Hardware site.

The Silver Cos. has a contract on the downtown property, where it is considering offering retail space as well as building townhomes that would sell in the $800,000 range, said Jud Honaker, president of Silver's commercial division. He declined to name the contract price.

The firm expects to close on the 1.45-acre property--which abuts William, Amelia and Winchester streets--by the end of the year, Honaker said.

The deal would be the first downtown move for the company, whose projects include Central Park in Fredericksburg, Celebrate Virginia in the city and in Stafford County, and Cosner's Corner in Spotsylvania County.

Honaker urges residents not to worry.

"I caution everybody not to get worked up," he said. "We recognize, appreciate and support the character of downtown. We are not going to do anything that wouldn't fit."

Silver's plans call for retail sites along William Street, and "high-end" townhomes to the rear. He could not specify what amenities will be offered.

Honaker said the company will hold several public information meetings to gather feedback from residents.

Fredericksburg Hardware, which closed last year, was known for its personal touches and hard-to-find items. Hunter Janney, who took the store over from his father, said at the time that it simply could not keep up with big-box chains.

He said his family decided to "test the market" when placing it for sale. He said he was pleased by the response.

"[The Silver Cos. is] a good company to work with," he said. "They've done a lot of good for the city. I think this will really help downtown."

The property is zoned commercial downtown, which allows a variety of uses including those proposed by the Silver Cos., said Erik Nelson, senior planner with the city's planning department.

"What he's proposing is all very feasible," he said.

He said the open space toward the rear of the property would allow for parking.

Retail is always a good addition for the city, he said. And living quarters would bring more customers to those shops and eateries.

"Certainly the activity wouldn't hurt. The retail is good, but the residential is also good for making things like restaurants work," he said.

To reach JOBY N. CUNNINGHAM: 540/374-5539 jcunningham@freelancestar.com