But time has taken its toll.
The building has been mostly or completely empty for several years. Various furniture and debris can be seen through the dusty windows that haven't been boarded up.
A recent appraisal for CURA noted that the cost to restore the building to modern building code was more than the cost of demolishing the structure, giving the building an appraised value of $0.
Before that appraisal, a previous estimate put the value of the building at $65,000, Edwards said.
That doesn't mean it can't be rehabilitated, however.
"It's an important part of the fabric of that commercial district," Edwards said.
Edwards said once CURA obtains the property, the organization will likely fund rehabilitation work and secure leases for part or all of the building, instead of immediately trying to resell the property to a private investor in its current condition.
"The concern is if we turn it over into the private sector, there's a chance it will not be redeveloped to its capability," he said.
Therefore, CURA intends to make the building an attractive investment so that once it's out of CURA's hands, the new owner will be more likely to take care of it.
That plan is still subject to a board vote once CURA obtains the building. A final purchase price has not been set.
The building has a colorful past.
In the 1980s, it was home to The Lobby, a club where a fatal shooting occurred in 1987. After that, the building was Tilt Daddy's until the early 1990s, when Capitol Lounge - likely one of the most notorious tenants - took its place.
Capitol Lounge was the scene of several particularly violent episodes, including numerous bar fights, a stabbing in 1993 and a shooting in 1994. In 1995, the building was firebombed by Jerry Brown, causing $1,500 in damage (about $2,300 in 2013 dollars). Brown was later arrested at Southern Kitchen in Kanawha City.
Capitol Lounge's alcohol licenses were revoked by the state in 1996, and state officials refused to issue new licenses, citing the problems caused by the establishment.
More recently, Rick & Charlotte's Grill was a tenant in the 2000s, and a Subway occupied part of the building until 2009, when it moved to the 1400 block of Washington Street East.
If CURA succeeds in obtaining the building, renovations can proceed.
Cavender said his organization would assist CURA with renovations to the building.
"We'll help with the exterior and interior," he said, referring to design work. "That'll be our role with that."
East End Main Street has assisted other building owners in the neighborhood with design work, including Bluegrass Kitchen and Little India across Washington Street from the building.
In the case of both buildings, Cavender said he would like to see positive changes take place, not only for the neighborhood, but also for establishments in the immediate vicinity.
"It's unfair for these business owners who have worked so hard," he said.
Contact writer Matt Murphy at Matt.Mur...@dailymail.com or 304-348-4817.