Ponce de Leon Pre-leasing Begins

Pre-leasing has begun for the 90 residential units at the Ponce de Leon in downtown Roanoke. The iconic building at the corner of Campbell Avenue and Second Street has been undergoing a transformation from its former life as the Crystal Tower office building. Move-in is scheduled for early August. More than 25 percent of the units have been reserved as of mid-May.

The renovated building features eight floors of apartments, 74 of which are one-bedroom. There also are eight studio apartments and eight two-bedroom units. Lease rates for most units will average between $700 and $820. Apartments feature stainless steel appliances, washers and dryers, granite countertops and hardwood floors. Tenant amenities include a fitness center, a roof deck and a water garden that makes use of the spring the runs beneath the building.

The leasing office is open Monday, Tuesday, Wednesday and Friday from 11 am to 1 pm and 4 pm to
6 pm; Thursday from 11 am to 1 pm and 4 pm to 7 pm, and Saturday from 10 am to 3 pm.

The building has a history almost as old as Roanokeā€™s. After a fire destroyed the original 1890s structure, the Ponce de Leon Hotel was erected on the corner of Campbell Avenue and Second Street in 1931. The hotel operated for decades as a prime example of art deco architecture and lavish interior design. In the 1970s, the entire building was converted to office space, and the grandeur of its interior was lost for 40 years. Developer Faisal Khan purchased the building from Total Action For Progress (TAP) in 2012. Waldvogel Commercial Properties is the leasing and management agent.

Commercial and restaurant spaces also are available. The restaurant space located in the former lobby and features high ceilings, beautiful columns and restored terrazzo floors. Other commercial spaces are available on both Campbell Avenue and 2nd Street.