Manchester was among the city’s busiest areas for development in 2020, and it doesn’t look like the neighborhood will be slowing down in the New Year.
The roughly 2-acre plot that’s been the longtime home to architectural salvage company Caravati’s is under contract to be sold.
The pending deal was confirmed by Caravati’s owner Jimmy Kastelberg, whose family has owned the business since the late 1930s.
Caravati’s put the assemblage on the market last year for an undisclosed amount, an offering that includes its 97-year-old, 38,000-square-foot warehouse.
The five properties included are at 103 and 104 E. 2nd St.; 101 Decatur St.; and 101 and 121 Stockton St. The properties were most recently assessed by the city at a combined $1.06 million.
Kastelberg said he can’t disclose who the prospective buyer is, but said the deal’s not likely to close for another few months.
“We’ll be here for probably another half a year I’m sure. It’s up to (the buyer) for what they want to do with it,” Kastelberg said.
The mystery buyer already has some wheels turning for redeveloping the property. Last week a rezoning application was filed with the city for the parcels to be designated as B-4 Central Business District, a distinction that allows for taller buildings than the parcels’ current B-7 and M-2 Heavy Industrial zonings.
Kastelberg said he’s not involved in the rezoning process.
“Our prospective buyer is looking into rezoning. That’s something that we’re not doing but they are. That’s all I know right now,” he said. City documents show that attorney Jennifer Mullen with Roth Jackson is representing the buyer in the rezoning process.
With its current home set to be sold, Kastelberg said they’re in the process of searching for Caravati’s next digs.
“Our future home is still up in the air. We are looking at a couple things that are in the works, but we haven’t made a decision,” Kastelberg said.
Caravati’s land is a quarter-mile south of one of the neighborhood’s biggest pending projects: the redevelopment of the Southern States silos at 2-4 Manchester Road. That project would be flanked by South Falls East, a 7-story tower from WVS Cos. and Fountainhead Real Estate Development.