In the late 1920s, real estate prices took a nose dive, triggering a full-blown depression by October 1929. Earlier that same year, the Reynolds building opened in downtown Winston-Salem. At 395 feet in height, it was the tallest building south of Baltimore and served as the model for the Empire State Building. Now, 80 years later, we are in a quasi depression which was triggered by falling real estate prices and the company whose name adorns the Reynolds building has just put it up for sale. The symmetry of it all is inescapable.
Built of Indiana limestone, the 21-story, art-deco structure was designed by the architectural firm of Shreve, Lamb and Harmon, and was occupied primarily by RJ Reynolds Tobacco company, whose only product then was Camel cigarettes. Eventually, some of the space was leased out to a variety of concerns ranging from doctors and dentists to attorneys, insurance companies and railroads. And while the marbleladen lobby was the focus of attention for those who entered, it was the exterior lighting that stood as a beacon to those who passed by, especially during the Christmas holidays when green and red lights illuminated the top floors. It is a landmark that we all expected to last forever and to be occupied by its namesake company until the end of time. Unfortunately, RJR has suffered massive lay-offs in this decade and no longer needs the towering space for its employees.
Reynolds Tobacco company paid $2.4 million to construct its elegant headquarters, and today they are listing it for roughly six times that amount.
It’s a fair price and no doubt once the economy improves, some well healed American developer will make RJR a reasonable offer. But it’s also possible that some Chinese or Saudi businessman might show up with cash in hand before the ink on the marketing brochure is dry. Either way, there is always the remote possibility that in the hands of strangers, the Reynolds building could be significantly altered, gutted, neglected or even imploded. That’s why the best way to honor and preserve this iconic structure is for the community in which it is located to benefit in perpetuity from its proper preservation.
The first step is for Reynolds Tobacco Company to donate their building to a charitable trust or other similar funding entity, such as the Winston-Salem Foundation, with assurances from the city of Winston-Salem that all property taxes be waived indefinitely so long as the building becomes and remains home to not-for-profit agencies exclusively. The Winston-Salem Foundation, for example, was formed 10 years before the Reynolds building opened, and has as its long-standing mission to support non profit organizations. What better way to do that than to provide a permanent, affordable home for those same organizations?
Groups like Legal Aid, the Better Business Bureau, the Urban League, Outreach Alliance for Babies, Cancer Services Inc., the Arts Council, the Tourism Authority, Big Brothers/Big Sisters and countless others would be invited to headquarter their offices in the Reynolds building. As such, the historic structure would convert from a towering symbol of corporate profit into one of corporate philanthropy and community service. The main floor could be developed into a full-fledged museum to honor all things Winston-Salem. Meanwhile the upper floors could be converted to conference and banquet facilities which the tenants could use for their fundraising events, and could also be rented out to private groups.
I realize that Reynolds Tobacco Company has no obligation to donate its grand old building, nor does it even make good business sense to walk away from millions of dollars which they would net from its sale. Still these are extraordinary times, and our community has extraordinary needs. Fortunately, Reynolds is led by an extraordinary woman in Susan Ivey, who should now take extraordinary steps to ensure that the Reynolds building can once again reach new heights. In so doing, Ivey would stand tall too.
Jim Longworth is the host of “Triad Today,” airing on Fridays at 6:30 a.m. on ABC 45 (cable channel 7) and Sundays at 10 p.m. on WMYV (cable channel 15).
