The former Cobblestone’s building in downtown York has “so much potential, and in a location that’s really becoming an attractive area for development,” real estate developer Dylan Bauer noted.
And after studying the potential of the former bar and restaurant on South George Street, Bauer, president of development for York firm RSDC, and other company officials decided to jump in and buy it.
They agreed to purchase the three-story, 32,700-square-foot building at 205-209 S. George St. for $300,000 at an auction Monday, and now will study possible uses for the site.
“It’s such an important part of town, located just south of city hall and being along a main entrance to the city,” Bauer said Tuesday. “So when we have an opportunity to do something like this, we’re going to do it.”
RSDC put up a $25,000 deposit and will pay the remaining $275,000 at closing, Bauer said. He expects the closing date to be April 6.
Most likely, the building will go back to being a restaurant, bar or nightclub, Bauer said. “But I’m not going to rule out anything.”
RSDC will work with York’s Rock Commercial Real Estate LLC to find tenants for the building, Bauer added.
RSDC bought the Cobblestone’s building from 205 Associates LLC, which had filed for Chapter 7 bankruptcy last year, officials said. The Cobblestone’s building also is a former Knights of Columbus headquarters.
Rock brokerage adviser John Birkeland said he’s enthusiastic about a buyer like RSDC stepping forward, calling it a firm “with the best interests of the city at heart.”
Birkeland feels that the South George Street corridor, which includes the old York Post Office building on the 200 block of South George, is “the next area that really needs attention in York.”
For York officials, the RSDC purchase “is definitely good news,” Shilvosky Buffaloe, York City’s interim director of economic and community development, said Tuesday.
“For almost 30 years, it was a family-friendly entertainment venue and a destination, and I believe that RSDC, with their stewardship and business savvy, can continue in that vein,” Buffaloe added.
Monday’s auction included a separate transaction in which Cobblestone’s equipment and liquor license also were sold, but details on that sale were not immediately available Tuesday, officials said.
RSDC, the former Royal Square Development & Construction, first made its name by redeveloping the area around York’s Royal Square, but in recent years also has been active in other areas as well. Its efforts include several projects on Market Street, the city’s old “Department Store Row.”