Fayette Street Lofts, located at 62 Fayette Street, was inaugurated during an August 13 ribbon cutting that was attended by several county and city officials, as well as community members.
The building includes 25 loft apartments, two marketplace storefronts, and nine ‘Make Your Space Studios,’ ranging from 550 to 940 square feet. Currently, every loft apartment and two of the nine studios are rented.
“With the completion of this project, not only has the Historic Collective addressed our local need for affordable workforce housing by designed 25 modern studio loft apartments, but we have new, affordable commercial space at the same property that’s specifically designed and priced for small businesses, non-profits, and artists,” Brenell Thomas, president of the Martinsville-Henry County Chamber of Commerce, said when formally welcoming the building Uptown.
“This convenient location is within close proximity to the thriving Uptown business district, and the many landmarks of our city- New College Institute (NCI), the Martinsville Uptown Farmers Market, the Thomas P. Dalton Idea Center, the Historic Courthouse, FAHI (Fayette Area Historic Initiative) Museum, the clocktower, Prillaman’s Market, Renewal Brewery, the Ground Floor, TAD Space and TAD tavern, and a host of churches, retail, restaurant, and fitness options,” she said.
Dating back to the early 1920s, Thomas said Fayette Street was a vital and thriving commercial, cultural, and social center for Martinsville’s black community. She noted some may remember the building from when it was a grocery store, or a furniture store.
“I’m too young to have that memory,” she said to the laughter of the audience. “But what I do recall are stories told by my mother and her sisters who grew up in Henry County, and they often spoke of going to town on Saturday mornings with their mother to buy groceries in this space. It was a trip they looked forward to every week. While their mother shopped for groceries, they patiently waited in the car.”
Thomas added she heard numerous stories from both her parents about attending the annual June German Ball to hear legends like James Brown, Little Richard, Tyrone Davis, and others who graced the stage on Fayette Street.
“I’d like to think that the celebration we’re having as we introduce Fayette Street Lofts building that history has a strong chance of repeating itself. Entrepreneurs have new options to consider as their ideal home for their small businesses in the Make Your Space Work Studios, where diverse businesses can grow,” she said.
Noting the community is experiencing substantial growth, Thomas said small businesses are not just vital to the local economy but are the heart of the community.
“They bring charm and character to our neighborhoods, create jobs, foster connections, drive innovation, and contribute significantly to our community’s economic health. When we buy from a local business, a significant portion of that money stays within the community and is reinvested in other local businesses, services, and charities,” she said, adding that circulation of money helps to build a robust local economy that can support its schools, infrastructure, and public services.
The Rev. Charles Whitfield, vice-chairman of the Chamber’s Partnership for Economic Growth (CPEG), said Fayette Street Lofts provides the opportunity for innovation, reduced cost in upgrading, and affordable rent to new and expanding businesses.
“It can also provide a place to collaborate and network with others who are also on their entrepreneurial journeys. The energy and drive of the artisans, the professionals, the accountants … will become contagious in this area,” he said.
But most of all, Whitfield said Fayette Street gains a new purpose that returns this part of the Uptown District to its history as a vibrant and an important part of the Martinsville economy.
“This addition of the Make Your Space Work Studios in the Uptown Business District offers nine huge studios with endless possibilities. This is a tremendous opportunity for our startups who are looking for a great place to launch and nurture their new business opportunities and for individuals who are striving to do the same,” Whitfield said.
It’s important to Martinsville Uptown to not only provide the space for its new and expanding small businesses, but that the community rallies and supports them “because as we all know, a committed consumer base is the heartbeat of each and every small business,” he added.
Jim Cherney, co-developer of JRS Realty Partners, LLC, said that he and co-developer John Garland recognized the spirit in the community four years ago when they set out to preserve and repurpose some of the area’s historic buildings.
“We had a deep connection to this community and the ability to see it grow. We both have years of experience in development, but the work we’re doing here is truly and uniquely meaningful. We believe in Martinsville and Henry County,” he said.
Cherney said his and Garland’s primary goal is to always create homes that they themselves would be happy to live in at an affordable rate. The concept of the Make Your Space Studios was to provide a blank canvas where any business or work studio could use, he said.
Garland, who is passionate about historic preservation, said every project JRS Realty takes on is historic.
“We always start with a building that’s in said shape that I call a dead building, and we turn that building around and bring it back to life,” Garland said, noting the space provides affordable housing as the rent for most of the lofts is $745.
Saving a building also is environmentally friendly and better than tearing one down and taking the debris to the local landfill, he said. “The memories, the nostalgia, the history of the place, and Fayette Street has a lot of history.”
The company is now securing an artist to create art pieces for all the walls that pay homage to Fayette Street’s heritage and history, Garland said.
This marks the third project completed in the series of redevelopments called the Martinsville-Henry County Historical Collective. The first was the Fieldale School apartments, which held its ribbon cutting in February 2023. All 23 apartments are being leased.
The second, the School Drive Apartments in the former John Redd Smith School, was held in November 2023. All 25 one-bedroom and seven two-bedrooms apartments in this complex are also rented.
The last project in the series is One Ellsworth, in the former BB&T building in Uptown Martinsville. It will include 50 one-bedroom apartments, 12 two-bedroom apartments, and one three-bedroom apartments, in addition to first floor and ground-floor retail space, a basement commercial space, and a mountain-view rooftop venue.
Garland estimates construction on One Ellsworth will end Spring 2026, and rents will be in the $895 price range.
City Manager Aretha Ferrell-Benavides and Martinsville Mayor LC Jones also spoke during the event.
For rental information, call or text Property Manager Hunter Clark at (276) 732-3126 or email hclark@cherneydevelopnent.com.
For more information on projects in the collective, visit www.historiccollective.com.
