SIOUX CITY, Iowa (KTIV) -
"It's a Sioux City icon that we want to preserve," says Jeana Goosmann.
She's is talking about her future home. Not where she'll live, but where she'll work. The Lerch Building, commonly known as the Flood Music Building, is about to go from lyrics to lawyers.
"We're tucked inside of the building we're in right now and we're excited to have a more physical presence so people will know where we are," said Goosmann.
Grossmann bought the building in June of 2009, the same year she opened her business law practice. Moving the firm from the Pioneer Bank building will give Goosmann Law more visibility, and save an old dilapidated building with a rich history, from the wrecking ball.
William Lurch had the building constructed in the late 1800's as a bank depository.
"There were stables behind the building, and they would actually run the money by horse from the building," Goosmann recounts.
It eventually became a dry goods store.
"We're trying to preserve the historic feel of the building but give it a more modern edge," Goosmann explains.
Most recently Flood Music called the Lerch home. Goosmann hopes to hit another high note with her own renovation project.
The exterior Terra Cotta, interior pillars and tin ceiling will all be preserved.Goosmann plans to move in by the end of the year.
She estimates Phase 1 of the project, which includes all exterior work and the first floor of the building will cost roughly $350,000. She's asked the city for a $36,000 loan, which will be paid back through an increased property tax valuation. Right now the property is worth just over $100,000.
Beginning in 2013, Goosmann will pay property taxes on a $325,000 building. Similar tools were used in the redevelopment of the nearby historic Pearl Street District.
"We've seen this trend before, where some of these older historic buildings make for pretty nice architecture, nice setting for professional office firms, for law firms, and so on, and they're in the main part of the downtown area. You're near the courthouse," Sioux City's Economic Development Director said on Friday.
Goosmann also has future plans to renovate the second and third floors along. She says that space will either be used for expansion of her practice or be leased out to other businesses.
