Douglas Development makes second acquisition in the city in a month

Douglas Development this week bought Tiffanie’s Manor adult care center in the Monroe neighborhood for $3.3 million and plans to convert it into apartments. (BizSense File)

Douglas Development is in the mood to negotiate in Richmond.

The Washington, DC-based company, which owns dozens of properties in the city but has been silent on the acquisition side in recent years, reached two deals last month.

The latest was his purchase this week of Tiffanie’s Manor adult care center at 115 N. Jefferson St. for $3.3 million.

This deal was preceded by Douglas’ $4.4 million acquisition of the Massad House Hotel portfolio at 11 N. 4th St. in late December. Four additional buildings and three parking lots along East Main Street near North 4th and 3rd Streets were also included in the sale.

Norman Jemal

Douglas Development managing director Norman Jemal said the Tiffanie’s Manor building is set to be converted into apartments.

“We are still working on plans. It will be around 40 units,” Jemal said. “It will be mainly residential, but there could be commercial spaces.”

The 33,000 square foot building was built in 1925 and stands over three stories. Tiffanies’s Manor was founded by Dolores Gatling in 1988 to provide assisted living care for adults with mental health issues. Gatling’s daughter Josephine has since taken over the business and was the saleswoman in the Douglas deal.

Gatling previously said she intended to help Tiffanie residents find new homes after the sale. Wednesday afternoon, the phone line to Tiffanie’s Manor was disconnected and Gatling was unreachable.

The deal was reached on Jan. 31, according to city records. The building was recently appraised by the city at $2.5 million.

Jemal said they may consider using historic tax credits to help fund the renovation of the building, and that he expects light interior demolitions to begin “pretty imminently”.

While Douglas has a clearer plan for the Tiffanie’s Manor building, Jemal said the company is still weighing its options for the Massad House Hotel and the surrounding retail, restaurant and office buildings that Douglas Development has purchased.

He said the three-story hotel building, which closed in late 2021 after a six-decade run downtown, is likely one of two things.

The Massad House Hotel closed its doors at the end of last year after 60 years in business. (Photo by Mike Platania)

“We rate it as a hotel as well as for multiple families,” he said. “This is a well located building with good bones that needs updating and refurbishing.”

The Massad and Tiffanie’s Manor deals are the first two acquisitions Douglas Development has made in Richmond in recent years. While he hasn’t upgraded much of his Arts District holdings, he has remained busy with some of his other downtown properties. He converted the former Stumpf Hotel at 728 E. Main St. into apartments and is currently completing work on a similar conversion of the former Virginia Department of Environmental Quality building at 629 E. Main St.

The company became so interested in downtown that following the failure of the Navy Hill project, Jemal’s father Douglas also made an unsolicited bid to renovate the Richmond Coliseum.

With the DEQ apartment project slated for completion in May, Jemal said he will focus his attention on his dozen Monroe and Jackson Ward properties, starting with 200 and 201 E. Broad St., which should be renovated. in mixed-use projects.

About Jermaine Chase

Check Also

The closed Royal George Theater could become an 8-storey apartment building

LINCOLN PARK — The Royal George Theater building could be converted into apartments, but some …