When the deadline for proposals for the former Wold Drug and Silver Bullet buildings passed with only one application, it wasn’t a death sentence for either building, City Administrator Pat McGarvey said.

Saturday, April 22, 2000

When the deadline for proposals for the former Wold Drug and Silver Bullet buildings passed with only one application, it wasn’t a death sentence for either building, City Administrator Pat McGarvey said. It just meant he had to find out why the interested parties – an Austin businessman for the Wold building and the Austin Elks Lodge for the Silver Bullet – didn’t send in any proposals. And he had to tell the originators of the only application that theirs was "insufficient" due to a lack of financing information.

Both the Elks and the Austin businessman – who preferred to remain anonymous for now – are still interested in the properties, but the cost quoted both for renovating the buildings have been a deterrent so far.

"We’re still interested, but the quotes we got are just astronomical," Elks manager Marv Peters said. "The contractors are coming up with some ridiculous figures … We would definitely like to do it, but it has to be within our budget."

Elks Board Chairman Terry Anderson explained that the group had gotten an estimate on the cost of renovating the Silver Bullet/Arcade building, and that the cost was almost as much as building new. The lodge didn’t submit a proposal, he said, because they were still trying to get the costs down to something they could afford and because they couldn’t make an offer until they get their own building at 102 First Ave. NE sold.

"The building would fit our needs," Anderson said, explaining that they would like to clear out what is now the Arcade and use it for their clubrooms, which would then be handicapped accessible, and leave the large open area that was the Silver Bullet bar to be used for larger functions: banquets for up to 250 people, wedding dances and the like. "It all depends on money in the end. We’re keeping our options open."

In reality, the city doesn’t even own the Silver Bullet building yet. The closing is set for July. McGarvey said the negotiations are on hold until the owner of The Arcade, Mr. Dino Lecakis, can move his business to a property on the East Side.

"This doesn’t have to be a rush rush thing," McGarvey said. "I hope the delay will give the Elks some time to sort out their building and a contractor for the project."

McGarvey said the city would probably tear down the Silver Bullet building and make it into more downtown parking if nothing could be worked out with a private party, as a last option. About the Wold building, he said destruction wasn’t an option, but marketing the building to a wider region was.

About the only proposal that did come in by the April 14 deadline, from Bob Vilt and Chris Keller, McGarvey said the city was looking for more financial details and proof that funds were available to renovate the building, such as a letter from the bank.

Vilt and Keller proposed turning the historic building into a deli and used bookstore.

"I can see selling Folgers coffee and good sandwiches, having quality used books for sale, maybe showing classic films one night, having poetry readings, things like that," Vilt said. "We would have couches and chairs where a person could curl up with a coffee and a soda and a book. It would be a place that wasn’t a bar for people to come at night and mingle."

Keller, who recently moved to Austin, said he saw a need in Austin for a place where young people could feel comfortable just hanging out.

Vilt said after talking to McGarvey, who was on vacation when the proposal deadline passed, that it appeared that their proposal would not be financially viable as it was.

"I’m open to suggestions though," he said. "Maybe we could do it as a cooperative or maybe some philanthropist would like me to manage it for her … We’re definitely still interested though, it’s a case of back to the drawing board."