A dilapidated building that has graced downtown Rocky Mount with its unsightly appearance in recent years will soon receive a face-lift.

The former Bailey's Jewelry building located at 116 N.W. Main Street was acquired last month by RBD Investments.

Robbie Davis, owner of the company and a Nash County commissioner, said that he purchased the building as an investment property.

The property was acquired by the city at an auction in January for $5,000 after the property was foreclosed on.

The city has incurred nearly $5,000 in expenses to repair the building's badly leaking roof and from back taxes.

The roof leaks were causing extensive damage to adjacent buildings because of water seeping through the building's connected walls.

The property was formerly owned by Robennu Brown of New York. The building was the home of Bailey's Jewelry store until the late 1970s.

The property was condemned by the city in 2005.

RBD was the sole bidder for the property with a bid of $5,777. The Rocky Mount City Council accepted the bid at its April 28 meeting.

"We will renovate the building and bring it up to current code," Davis said. "We don't have a plan for the building's use."

Davis said although the building needs "a lot of work," the structure can be restored and will fit nicely with the city's revitalization efforts on Main Street.

The City Council recently approved the urban design plan for the first phase of streetscape. The project aims to revamp streets, sidewalks and appeal to residents and business owners alike to return to the downtown area.

"It's just starting up," Davis said. "There's going to be a lot of new development."

Davis also is co-owner of Turn-Key Contractors. He said the construction company will perform the renovations at the building with the intention of selling or leasing the building.

RBD recently purchased MacHaven Mansion – the former home of the City Club – and renovated the historic property located on South Grace Street.

Rocky Mount Downtown Development Manager Ian Kipp said he is excited to see the building will be renovated.

"It's something we strongly promote," Kipp said. "It's something that's obviously needed. This building has a long history with us."

He said the renovated building would be a perfect home to a "customer service-oriented business" being that it is nestled between an incoming coffee house and the Gin-Lily Hair Salon.

"It's a great opportunity for Mr. Davis and downtown," Kipp said. "That block is solidifying itself and that (type of investment) is what's going to bring the downtown back."