Madras building owner prepares flexible spaces for rent to local businesses
Alan Poviz wants to make his building attractive for Madras and for the businesses who might want to locate there.
“This is a main corner. It should look good,” says Poviz.
Poviz moved to Madras from Peru 15 years ago to be near his family. He and his wife also own the T-Mobile business on Southwest Fifth Street in Madras. He owns rental property through his company Welcome Home Rentals LLC.
Now he’s a soon-to-be landlord of commercial space, a new venture for him.
He rented space in this building at Fourth and D Streets for his computer repair shop, Willstech. When his landlord decided to sell the building, Poviz bought it so he wouldn’t lose his location.
Then COVID hit.
“I had to let employees go,” says Poviz. The shop closed and now he has an empty building on his hands, 6,000 square feet of retail space, and not in great shape.
He decided to invest money to fix it up. He borrowed $165,000 from the City of Madras and supplements that with a $150,000 grant from the Madras Redevelopment Commission.
“I think it’s a great help,” says Poviz, “because that’s the only reason I decided to change it.”
His contractor races to meet the deadline. The job was supposed to be finished in April. The first contractor walked away from the job.
This contractor, Outer Northwest Construction, says supply chain shortages make it difficult to stay on schedule.
“It gets kinda flip-a-coinish,” says Emmet Myers about whether or when they get the supplies they order.
The exterior design features glass doors and windows with brick and wood accents. The space accommodates a potential for four storefronts, but the interior design can flex with the wishes of the tenants who may want more space or less depending on their needs.
Tenants will select their own finishes and fixtures. Poviz may contribute financially to the build-out depending on the length of the commitment from the tenant.
Businesses that rent from him could also apply for funding through the MRC to finish out the interior.
Poviz has not yet leased any of the spaces. He’s in the process of researching how much he should charge for rent.
To fulfill his contract with the MRC, the stores need to be ready to rent by March.
“I hope they’ll understand,” says Poviz, “but I’m optimistic we’ll meet the deadline.”
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