Old Colonial Bank building breathes new life | News
MONTGOMERY, AL (WSFA)- The old Eastside Colonial Bank building, now the Capitol Commerce Center, was nearly brand new when Colonial Bank failed in 2009.
A family from Arkansas purchased it a year later and now has big plans to turn it into event space.
What used to be just meeting space for Colonial Bank suddenly has new potential for anyone holding an event.
"It can be set up for a ceremony where that would be front podium area," says Larry Crain, the building's new owner.
Weddings, receptions, rehearsal dinners, corporate events--the sky is the limit for what Crain imagines for the space.
"We also have the most awesome catering kitchen."
It was only until recently Crain realized the space could be used for outside events.
He says the dining room, ballroom, main lobby and courtyard areas are ideal for large gatherings.
"We're gonna have ads in local publications that brides and event planners tend to look in. And then we're also going to be putting up banners."
In addition to event space, the building houses five companies employing roughly 600 people. Leasing agents say it's only half full providing opportunities for more businesses to locate in Montgomery.
"We're probably showing the building a couple times a week. That's very good in this market," says John Stanley.
Stanley is in charge of leasing office space to companies. Filling up offices could replenish jobs lost when Colonial Bank failed.
He admits he hadn't thought of event space there, too, but agrees it's a good way to fill the once empty building.
"What it enables us to do is utilize a portion of the building that's really designed and set up for that use."
Stanley says the building was on the market for roughly a year when the Crain family bought it. It sold for just under $16-million dollars.
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