New Lofts, Financial Planning Firm Will Soon Move To Renovated Building In Historic Downtown Lynchburg | Local business news

What was once the Hancock Motor Company, at 305 6th St. in downtown Lynchburg, will soon house 20 luxury apartments and offices.

Daryl Calfee of Penny Lane Properties bought the 26,000 square foot Thomas Road Baptist Church building last year. The circa 1928 structure sits on the corner of Church Street and was designed by local architect Stanhope Johnson.

The Motor Company Lofts will be completed by the end of the year and Selective Wealth Management, a financial planning group, will move into the ground floor in August.

Selective Wealth Management was established in 2012 and currently operates on the 11th floor of the Bank of the James building at 828 Main St. Over the past five years, it has grown from three employees to 18 full-time employees.

Matt Schubert, CEO of Selective Wealth Management, said the new space at 6th and Church streets will provide much more room for his growing team.

“We love the way downtown is developing and growing and we have more and more team members living in Lynchburg, and a lot of them downtown as well. And so we’re excited to be able to stay close and be downtown,” he said.

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Schubert said the new space will look less like a traditional wealth management firm and more like a software company, with lots of glass and collaborative spaces for team members to work together.

“We are building a modern wealth management company – where we believe every family deserves a team,” he said. “We love that it’s a historic building where the first trades took place in Lynchburg, with the first Fords being sold from a showroom in this building, so we’re excited to incorporate some of these elements.”

Most likely, the company will use at least one of the lofts when it has away team members and guests coming into town, Schubert said.

Calfee says the apartments will be located on the top two floors and will offer one- and two-bedroom floor plans ranging from 700 square feet to 1,000 square feet.

When the building housed Hancock Motor Company, vehicles were sold and serviced there in the late 1920s and all inventory was parked on the roof until it was covered years later.

Since the 1970s, ownership has passed between Thomas Road Baptist Church and Liberty University. It has been used for Liberty’s Theological Seminary, student housing, a call center for the Moral Majority – a conservative political group founded by the late Reverend Jerry Falwell Sr. – and more recently, All Nations Church.

Calfee said the apartments will be distinct, some with 14-foot-high ceilings and others with curved concrete ceilings. There will be two parking lots at the rear of the building as well as a community space, abundant light mixed with historic features and modern conveniences.

The entire building was gutted to meet modern code requirements, he said, and a hole was drilled in the floor to create stairs. A skylight has been added to bring light to the ground floor, which is completely underground.

Development of new apartments continues on historic property in the town of Bedford

About Frances R. Smith

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