But Stella Dikos wasn’t the only one moved by the sentimentality of the purchase.

VCU, which has been snapping up properties around its Monroe Park campus for years, backed out of bidding on the building when it heard Giavos was interested.

“When the word of the buyer was shared, and there was an understanding of family sentiments and goals for the property, it was right to back away,” said Mitzi Lee, VCU’s director of real estate services. “Having knowledge of the work of Johnny and Katrina Giavos in the Richmond community, there is no doubt this next project on West Grace Street will be an excellent addition to the greater VCU community.”

Giavos’ plan for the building is a full restoration. He plans to renovate the upstairs apartments and restore the restaurant space but not for himself.

“I can 90 percent guarantee that it won’t be mine,” said Giavos, who owns multiple local restaurants including Perly’s, Kitchen 24, Stella’s, Kuba Kuba and Sidewalk Café.

Instead, he hopes to bring in a restaurant tenant that would be good fit for the city and neighborhood. He’s even reached out to a few New York restaurateurs (though he’s not sharing names).