A short-lived Manchester café and coffee shop soon will be replaced by a rare sight in the neighborhood: a bank branch.
Atlanta-based banking giant SunTrust plans to open a location in vacant commercial space at the corner of 12th Street and Semmes Avenue, on the ground floor of the 1200 Semmes development.
The 1,450-square-foot space previously was occupied by locally based café chain Urban Farmhouse, which vacated last year after about a year in business.
It sits catty-corner to the campus of SunTrust’s mortgage operations, which are headquartered in Manchester.
A spokesman confirmed the new branch is in the works and it would look to ready the space by the second quarter. The company declined to comment further, including whether it would replace its existing Manchester branch at 1518 Hull St.
That Hull Street location holds $12.5 million in deposits as of June 30 – the smallest of SunTrust’s 40 branches in the Richmond area, according to FDIC figures.
It’s one of the only bank branches in the neighborhood and is housed in a 90-year-old building along a stretch of Old Town Manchester that’s garnering renewed interest.
The three-story, 13,000-square-foot building is owned by SunTrust, city property records show. It sits on a 0.2-acre lot at the corner of Hull and East 16th streets and most recently was assessed at $368,000.
SunTrust will be one of two corner commercial tenants in 1200 Semmes, joining a Subway sandwich shop at the opposite end of the building. The rest of the development, built by Mark Purcell, Robin Miller and Dan Gecker, is filled by 129 apartments.