Emily Patrick

epatrick@citizen-times.com

The River Arts District's iconic Phil Mechanic Studios sold to a Texas real estate developer on Friday, according to a press release from the buyer, James Lifshutz.

Lifshutz plans to convert the space, which has housed art studios and Blue Ridge Biofuels, into residential units and a "possible brewery or restaurant on the river level," according to the release.

He said he's not sure about how to integrate the arts into the building.

"Art is in the DNA of the building so must continue to be featured prominently in the mix," he said in a press release. "What will the final mix be? My intent is to spend the next year or so figuring that out by way of a planning effort that will involve my consultants, the City of Asheville, current tenants and other stakeholders. I am looking forward to it."

Lifshutz has worked on arts-related development projects before. The Blue Star Arts Complex in San Antonio features a block of buildings with riverfront access. Current tenants include a contemporary art museum, about half a dozen studios and galleries, seven bars and restaurants and retail tenants such as a salon, a bike shop and an energy consultancy. The complex also includes residential space.

He also has experience developing historic structures. His Cadillac Lofts project is listed on the National Register of Historic Places, and he recently entered a partnership with Bexar County to develop the ruins of the Hot Wells Hotel and Spa, according to the San Antonio Express-News.

In the press release, Jolene Mechanic, who inherited the building with her husband, said she will miss it and its mission to support artists.

The Phil Mechanic Studios is located at 109 Roberts St. It's the first building many visitors to the River Arts District see since it's stationed at the roundabout where Haywood Road, Clingman Avenue and Roberts Street converge.

When it was first listed for sale in February 2014, the asking price was nearly $2 million.

The Buncombe County Register of Deeds had not yet received record of the sale Monday at noon.