JAMESTOWN – The Gebbie Foundation has released information from a recent assessment study of the Arcade building, performed by C&S Engineers Inc.
The study found that the vacant building, which is located on North Main St. just to the north of the railroad tracks, is in fair to good condition structurally, in regard to foundation and walls. But, the study also found that there are multiple points of water infiltration throughout the building and the structural integrity of the various floors has become compromised. In addition, most windows are broken or missing.
As part of the study, costs were determined based on three scenarios: demolition, stabilization and renovation.
The cost to stabilize the building is estimated cost of $1,455,000.
The estimated cost for demolition is $1,708,000.
The estimated cost for the renovations is $16,420,000.
On June 22, a fire broke out in the smaller building next to the Arcade building, causing significant damage. The cost of addressing the remnants of that fire – which will likely be demolition of the smaller building – is still being looked into with city officials hoping a state grant will help cover the cost.