Drucker & Falk to Manage the Historic First National Bank

Iconic, first skyscraper of Richmond, Virginia to undergo renovation and convert to apartments in 2012

Richmond, VA — Drucker & Falk announced today that they will market and manage the new apartments at the First National Bank Building.  Although the apartment community’s new name has not been announced, the community will ultimately consist of 154 apartment homes and offer, 1, 2 & 3 bedroom luxury floor plans ranging from 562 square feet to 2,235 square feet.  A few of the exciting features will include penthouse level apartments, loft apartments, fitness center, a resident social lounge, game room and secured access private garage parking. The iconic apartment homes, on the corner of 9th & Main at 825 East Main Street, will boast views of the James River, Downtown Richmond, and the State Capital Building. Residents will enjoy all the charm and romance of the timeless architectural character of the early 1900’s. “The location couldn’t be better! Virginia Commonwealth University, the State Capitol Building, Brown's Island, Biotech & MCV District, Center Stage, and the Jefferson Hotel are all within walking distance” said Andrew Chisholm, Drucker & Falk’s Mid-Atlantic Multifamily Management Director. “This community is going to be a great addition to the bustling lifestyle of downtown Richmond. We are looking forward to showing the public the historic features of the original lobby and the exteriors, which will be restored to their original splendor."

“We are delighted to be a part of a transformative community in downtown Richmond,” said Wendy Drucker, Managing Director of Drucker & Falk Real Estate. “The First National Bank building is in a superb location and we are honored to be associated with creating an iconic community.”

This multi-million renovation of the first tower (high rise) built in Richmond, Virginia began in late December 2011 and the first apartments are scheduled to be delivered later this year (2012). Hitt Contracting of Falls Church, Virginia is the contractor and Commonwealth Architects from Richmond is the Architect.

About Drucker & Falk

 

Drucker & Falk is a full service investment real estate services firm, offering multifamily fee management, commercial fee management, commercial sales & leasing, senior living, and advisory services. Drucker & Falk's operations are concentrated in the Mid Atlantic and Southeastern states of Virginia, North Carolina, South Carolina, Georgia, Florida and Tennessee. Established in 1938 by A. Louis Drucker and Emanuel E. Falk, the company is now owned and operated by third generation members of the Drucker and Falk families- Wendy Drucker, Kellie Falk-Tillett and David Falk, Jr.   

For more information please visit www.DruckerandFalk.com

Historic details:

National Park Service, US Department of Interior-- “The First National Bank Building dating from 1913 is the first skyscraper in Richmond, and a wonderful example of turn-of-the-century Neoclassical Revival architecture. Nineteen stories tall, the building crowned the city’s skyline until its height was surpassed in 1930. Constructed using early steel-frame technology, the bank combines a monumental scale with fine detailing.”

The [First National Bank] is rich in Richmond history. "Following the Civil War, the Federal Government revoked the charters of all banks whose loyalty to the Union might be suspect. Richmond was without a bank until several citizens met with northern banker Hamilton G. Fant and associates, who agreed to establish a bank under Federal charter. Financial leaders, who wanted to pull Richmond through the impending and difficult years of Reconstruction, founded the First National Bank in April 1865, a mere eight days after Robert E. Lee’s surrender at Appomattox. Robert E. Lee was one of the bank’s first customers. The First National Bank, which originally met in the old Customs House, soon merged with National Exchange Bank and moved from a one-room office to a commercial building at 10th and Main Streets. Surviving the financial crises of the 1890s, First National Bank entered the 20th century with the highest total assets of any bank in the city.

In 1910, First National Bank hired the New York firm of Clinton and Russell to fashion a new building at the corner of 9th and Main Streets, utilizing the latest in design and technology. The architect, Alfred Charles Bossom, clad the revolutionary steel-frame building in limestone, granite, and brick in a design that incorporates 50 foot tall fluted Corinthian pilasters and columns and heavily-molded terra cotta ornamentation in a learned application of Neoclassical design and proportion. On June 10, 1913, the First National Bank moved its offices into Richmond’s first skyscraper. In 1919, Bossom designed the Mutual Building and the Virginia Trust Building, both adjacent to the First National Bank Building. All three buildings headquartered financial or business institutions, creating a symbol of financial prosperity in the heart of the city."