The property owner, Ed McCoy of McCoy Holdings, says he bought the buildings after Grinnell relocated operations about a year ago. The finished product will be called Grinnell Water Works, retaining some of the flavor of the past.

The 53,000-sf warehouse already has its first tenant. Two recently-merged companies have signed a five-year lease to occupy 23,980 sf by the end of the year. The companies, Indianapolis-based Allegiant Technology and Vicious Systems, a Charlotte company, have over 200 employees and provide consulting and technology solutions for e-commerce.

Charlotte architects McClure Nicholson Montgomery and Severs, who have applied to have the property listed on the National Historic Register, have chosen to keep much of the original design while embellishing certain features of the two buildings.

The 18,000-sf office building is also being restored to retain many of its original features. If the buildings are accepted as historic structures, McCoy will qualify for preservation tax credits.

One of the most striking aspects is the main entrance, which is being built around an old loading dock. Because about half of the restored warehouse will be constructed of glass, it will provide all tenants with plenty of natural light.

The total renovation will include about 9,000 sf of added space that will be leased separately. An old 900-sf boiler room will also be remodeled.

The land around Grinnell Water Works will be landscaped and connected to old railroad tracks in a campus-like setting.

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Restoration Project Under Way on West Morehead

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