FM primary aerial photo The Furniture Mart is pictured from above. Development proposals are being accepted to redevelop the building.

The Gebbie Foundation is publicly pushing forward with redevelopment of the Furniture Mart rehabilitation project, asking Tuesday for developers interested in the project to submit proposals.

Accepting new proposals was foreshadowed by the building’s inclusion in Jamestown’s Downtown Revitalization Initiative application, with the building preliminarily earmarked for $2 million in DRI funding, but without a new developer attached to the application. Redevelopment of the building has been tied to Peter Krog of Krog Development, the Harrison Group and Carl Paladino of Ellicott Development in the past, but the building’s longtime owner – Meritocracy Ventures LTD – was listed as the development partner for the DRI application.

As the city’s reputation for producing quality furniture increased, the Furniture Mart Building was designed in the early 1900s. The property was constructed to showcase the region’s furniture and hold expositions. According to information included in “The Jamestown Furniture Industry,” a book by Clarence Carlson, construction on the corner of West Second and Washington streets began in 1916 and was completed in 1917. The building was designed to be fireproof, with an outward layer of brick and an inward structure composed of steel. The Furniture Mart Building, also known as the Furniture Exposition Building, was regularly used by manufacturers to show off its new furniture in a central location downtown, near the city’s downtown hotels.

The Furniture Mart was later rescued by Arthur Bailey from bankruptcy court after the downturn in the furniture industry ended its usefulness as a showplace. It has been home to offices and formerly The Connection call center in recent decades.

Greg Edwards, Gebbie Foundation CEO, said the building retains its architectural grandeur and strategic value, while its size, footprint, flexible layout, and prime riverfront location position it as an ideal candidate for repurposing and renovation. For an adaptive reuse project of this scale, joint ventures and collaborative relationships are encouraged.

“This iconic building is located in the heart of downtown, across the street from the award-winning National Comedy Center and steps from the Lucille Ball Desi Arnaz Museum and Northwest Arena,” Edwards said. “We are undergoing a resurgence in the city of Jamestown and developing a reputation as a world-class entertainment destination, so the timing on redeveloping this building could not be more opportune.”

The Furniture Mart is 172,000 square feet covering nine stories, with 19,000 square foot floor plates and central core. It’s been positioned during prior redevelopment efforts dating back more than a decade as a site for

mixed-use residential and commercial development. It offers the potential for designing a boutique hotel, mixed-income residential units, meeting and conference center, office space, and ground floor retail and amenities. Adjacent parking is situated immediately to the east and south. Redevelopment costs have increased from an estimated $15-16 million in 2019 to between $30-$40 million now, depending on what is included in the project.

In addition to the DRI funding, there is also a $1.34 million Regional Economic Development Council award tied to the Furniture Mart project, while Mark Geise, county IDA CEO, said state and federal historic tax credits could cover 30% of the project’s capital costs, with tax leases and a 15-year adaptive reuse PILOT also available.

“Since timing is critical for summer/fall 2026 funding windows, we urge developers to take advantage

of these incentives as soon as possible,” Geise said in the news release.

City officials have made a new future for the Furniture Mart building a priority for more than a decade, twice including the project in Downtown Revitalization Initiative plans and pursuing outside grant funding opportunities in conjunction with the Gebbie Foundation.

“Jamestown is experiencing tremendous momentum, and the Furniture Exposition Mart is well positioned to be part of our city’s continued revitalization,” said Mayor Kim Ecklund. “As a symbol of our past and the possibilities that lie ahead, this iconic landmark offers an opportunity to preserve our history while embracing new opportunities. We look forward to welcoming developers with the vision to reimagine this historic building in a way that strengthens our downtown and benefits our community for generations to come.”

The property is represented by Paula M. Blanchard, Hanna Commercial Real Estate.