The Property is a unique building that was originally constructed as a stand alone brick townhouse in 1854. Elk's Lodge #875 then took over the property and added the front portion of the building along Caroline Street in the early 1920's and the rear ballroom in the 1930's to complete the 18,700 square foot structure. It was an Elk's Lodge for 94 years until its purchase by the current owners in 1996. Although purchased for the purpose of housing their clothing and embroidery company it soon became apparent that since the building had such a long an integral assembly use in Fredericksburg the decision was made to retain the assembly use. The building was completely renovated in terms of refinishing floors, upgrading electrical systems, HVAC, lighting and decor and has served as the only 4-diamond restaurant and finest reception and banquet facility between Richmond and Washington, D.C. The building is exceptionally well suited to mixed use, commercial or residential use and situated in the heart of the Downtown Historic District of Fredericksburg. It is located less than one block from the VRE/AMTRAK rail station providing easy access to Washington, D.C. In addition, the only City Parking Deck in Fredericksburg is located around the corner for added convenience. While the building could be adapted to numerous uses the City of Fredericksburg has expressed great interest in facilitating the conversion of the building into an upscale boutique hotel which would be a substantial addition to the Historic Downtown District. Preliminary architectural plans support up to 54 rooms while retaining both ballrooms and the lower level of the building if desired. The building qualifies for historic tax credits.