Selby Building: Crucial repairs completed, three potential tenants interested

Leonard L. Hayhurst, Coshocton Tribune
·5 min read

COSHOCTON − A historical building sitting like a monolith in the middle of Downtown Coshocton is slowly coming back to life through Our Town Coshocton.

OTC Executive Director Lanny Spaulding said there is still much work that needs done, but crucial repairs, like closing a gaping hole in the roof, has been completed. New end users have also been identified that include Standard Power, Central Ohio Technical College and the Muskingum Watershed Conservancy District.

Work continues to renovate the Selby Building for new users. More funding is being sought for the estimated $12 million to $15 million project. The target completion date is 2026.
Work continues to renovate the Selby Building for new users. More funding is being sought for the estimated $12 million to $15 million project. The target completion date is 2026.

Spaulding said the projected completion date is 2026 with an estimated total project cost of $12 million to $15 million. He believes it will be money well spent as Downtown Coshocton continues to transform into a vibrant economic district. In the past few years there has been a critical shift to downtown being a focal point of Coshocton and events, like the summer concert series and new businesses opening.

"Now it's just a matter of getting project submissions in, nurturing the relationships we have and putting a profound proposal together. What it ultimately comes down to is money," Spaulding said. "This is the most important thing we're dealing with. We're committed to it. We're not going to take our eyes off the target until the building is done and ready to go for tenants."

Crews work on the roof of the Selby building. While there is more remodeling to be done, the gaping whole in the roof has been closed and weatherized to prevent any further interior damage.
Crews work on the roof of the Selby building. While there is more remodeling to be done, the gaping whole in the roof has been closed and weatherized to prevent any further interior damage.

Efforts to rescue building began in spring 2021

In spring 2021, OTC and city officials started pursuing rescue of the historical building by the railroad tracks on Main Street. The three-story, 62,000-square-foot structure was erected in 1895 by Edgar O. Selby. It has housed many businesses over the years, most prominently the J.J. Newberry five-and-dime store from 1921 to 1993. It's been vacant since 2011 and fell into disrepair.

OTC took over the building in December 2021 from the local land bank and began shoring up and stabilizing efforts through a $300,000 grant from the Joseph W., Fred E. and Helen LeRetilley Johnston Fund of the Coshocton Foundation and $200,000 from the Montgomery Foundation. They've also put $50,000 into the project from the state capital budget. Spaulding said they're still pursuing other grants and historic tax credits for more remodeling.

This includes the Ohio Appalachian Grant program and Spaulding has had conversations with Rep. Troy Balderson on possible federal funding and connecting with other developmental partners in the congressional district.

"He does understand the opportunity for that building to be a central part of the Downtown Coshocton experience and also provide opportunities to the greater region," Spaulding said.

He said the building has been weatherized and the roof repaired, although there is still more work to do. He said MFM Building Products donated sealing materials.

"The roof is still going to need a new cap, a new membrane, but for right now, that roof is in solid shape and nothing is coming through that roof that would further damage the building," Spaulding said.

Initially, Paul Gilbert and Matt Parsons had been named to take over the property once basic renovations through OTC had been completed. The pair from Houston, Texas, purchased the Frew Building, diagonal from the Selby. Work there has included renovating the upstairs apartments and opening Scoops Ice Cream Shoppe. Spaulding said this has become their focus, but it's possible some of their ideas for the Selby might come to fruition.

"If they still want to develop out the diner and the event space above, that's still on the table," Spaulding said. "There's always still a welcome spot for them on the Selby project."

While OTC will be the property owners for the foreseeable future, Spaulding said they're not against a private owner making an offer.

"We would certainly consider anything. At the end of the day, any money we make, we're a non-profit, that's money we can rollover and target at other vacant buildings," he said.

Crews work on the roof of the Selby building. While there is more remodeling to be done, the gaping whole in the roof has been closed and weatherized to prevent any further interior damage.
Crews work on the roof of the Selby building. While there is more remodeling to be done, the gaping whole in the roof has been closed and weatherized to prevent any further interior damage.

Future tenants identified for historic structure

Standard Power, the bitcoin mining data center that opened last year, is signing a lease to become a majority tenant in the building. Founder and CEO Maxim Serezhin said Standard Power is committed to the Coshocton community. Use of the building hasn't been finalized, but it could feature offices, a testing hub and training for tech students.

Along with its facility at the former WestRock papermill site, they'll also have operations at the burgeoning Conesville Industrial Park. Standard Power is co-funding a marketing video for Coshocton with OTC and has sponsored two concerts of the summer concert series, Claudia Hoyser and the coming 7 Bridges on Sept. 17.

"Our commitment to the Selby Building is a progression in an already strong relationship with the City of Coshocton and we see the restoration of this large historic building as a critical part of a downtown renaissance," Serezhin said.

The Muskingum Watershed Conservancy District component would be an outdoor recreation information center. The MWCD covers 20 percent of the state and serves more than 2 million residents.

Executive Director Craig Butler in a grant support letter said the recreational center "will serve as a gateway to the Appalachian region for all visitors to the area, allowing MWCD to educate people on our overall mission, efforts and programming opportunities."

Spaulding said they also want to work with COTC and Zane State College on developing off-site career based learning components, an example could be a restaurant staffed by culinary arts students.

In a letter of support for the Ohio Appalachian Grant, COTC President John Berry called the Selby project visionary and entrepreneurial.

"The plan for a true multi-purpose center that engages all sectors of community is exactly what the core of the City of Coshocton needs for revitalization," Berry said. "The mix of retail, service, arts engagement and community gathering and events space would truly catalyze a transformation endeavor for the downtown hub of Coshocton."

Leonard Hayhurst is a community content coordinator and general news reporter for the Coshocton Tribune with more than 15 years of local journalism experience and multiple awards from the Ohio Associated Press. He can be reached at 740-295-3417 or llhayhur@coshoctontribune.com. Follow him on Twitter at @llhayhurst.

This article originally appeared on Coshocton Tribune: Selby Building: Potential tenants interested, crucial repairs complete