Published: June 02, 2007 08:57 am      

Washington-based developer now owns Frostburg’s fire-damaged Lyric Building

Main Street landmark will house retail space, luxury apartments

FROSTBURG — Developer Michael Joy now owns the Lyric Building, and the Washington-based developer plans to begin in a few days the work that will transform the burned-out Main Street structure into a combination of luxury apartments and retail space.

“Mr. Joy has had several successful pro-jects in Cumberland, and the Lyric Theater Building project is similar to his project in the former Zembower Hardware Store on Liberty Street,” said Frostburg City Administrator John Kirby.

The $289,000 deal closed Thursday in the offices of Michael Scott Cohen, the city’s attorney.

“We expect that Michael Joy’s investment along with the investment of CME Engineering in the former Kline Furniture Building will bring a new life to Main Street and be just the start of great things to come,” said Mayor Arthur Bond in a prepared statement.

A Frostburg State University spokesman said that institution is considering occupying a portion of the building to give the school a downtown presence.

The 27,000-square-foot building, encompassing 16-24 E. Main St., burned in February 2004. At the time it housed Gandalf’s Restaurant and Pub, Wearhouse War clothing store and several apartments. It was given to the city by the former owner, Harold Taylor.

The city will return the purchase price — the same amount of grant money used by the city to stabilize the building — to Joy once the building is occupied and generating tax revenue. Joy said recently that he expects the building to be fully renovated and ready for use in about one year.