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Two years
ago the renovation of the Hotel Roanoke was
completed. Hotel Roanoke, built in 1882, was a
major luxury hotel that was the centerpiece of the
then Norfolk & Western Railroad. In 1989, after
a corporate decision to withdraw from the hotel
business, the Norfolk southern Corporation donated
the hotel to the Virginia Tech Real Estate
Foundation. The quasi-public venture Renew Roanoke
spent $27.5 million renovating the hotel. In
conjunction with the renovation, a $12.8 million
conference center containing 86,000 square feet was
built adjoining the hotel Virginia Tech utilizes
the facility for their hospitality management
program as well as it being the primary downtown
hotel. A new, enclosed pedestrian bridge provides
24-hour access from the Hotel Roanoke to the
Roanoke City Market. 111
Franklin Plaza has been technologically upgraded to
meet or exceed the standards of the new
millennium. In
addition to the traditional phone companies, three
new telecommunication providers have been selected
to provide their services to the building. Each has
installed their own fiber optic back bone
throughout the building and stands ready to provide
the fastest, most efficient and inexpensive
services to out tenants. Specifically
these companies allow for the bundling of all of a
user's telecommunication needs into a single
source. Tenants can now deal with only one provider
for local, long distance, data, Internet and
Intranet access, all at a substantially reduced
cost. By selecting multiple service providers we've
insured a high degree of competition and
consequently the best pricing available for our
tenants. At Crown
Properties, Inc. we believe that being in the
forefront of the technological revolution can only
help position out properties as the best in their
class. •
On-site retail banking with
ATM machine •
One block from key conveniences such as Patrick
Henry Hotel, •
Plentiful visitor and tenant parking
available •
High ratio of windows to floor area •
24 -hour on-site engineering •
Lobby attendants •
On-site management •
Fiber optic backbone - Tenants may enhance and
simplify their
Over
the past two years, the CBD neighborhood has been
positively influenced by the growth of the Roanoke
City Market and the opening of the Hotel Roanoke.
The Roanoke City market represents a four-block
area centered around the farmer's market at the
intersection of Campbell Avenue and Wall Street.
This shopping and dining area has traditionally
catered to downtown office workers at lunch. More
recently, the market area has also developed into a
nightspot. The Roanoke City Market is located two
blocks directly north of the subject and is a
desirable amenity for its occupants.
_Roanoke
Public Library, Roanoke City Market's restaurants
and
_retail
shops and convenient to Hotel Roanoke
_
telecommunication
capabilities through one of three vendors in
_
addition
to the traditional companies. These vendors allow
tenants
_
to
"bundle"
all their telecommunication needs including, local,
long
_
distance,
data, Internet and Intranet access through one
source at
_
substantial
savings.
Market
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