Work begins on Reynolds project
When completed, building to fill "the hole" will house Regions Bank and Consociate/Dansig
   CHRIS LUSVARDI H&R Staff Writer

DECATUR - A major step in the revitalization of downtown Decatur will be taken today with the beginning of construction on a development in the 300 block of North Water Street. A groundbreaking attended by about 100 people was Tuesday on the Reynolds Development LLC project at 350 N. Water St. A fence will be going up, and work is beginning to fill what had become known as "the hole," currently a vacant lot.

The development, which will house offices for Regions Bank and Consociate/Dansig, is expected to spark roughly $20 million in total public and private reinvestment in downtown Decatur. It is scheduled for completion in August 2008.

"It's once in a lifetime you see a project that changes the scope of a community," said Craig Coil, Economic Development Corporation of Decatur and Macon County president. "This is one of those projects."

Darren Reynolds, senior vice president Consociate/Dansig, the project's developer, said that while the major tenants have been filled, there will be plenty of room for more businesses. The 95,000-square foot building's timeless design will help it blend in with other architecture in downtown, he said. Reynolds is looking to add a restaurant and two retailers on the main floor of the building. An executive suite concept for small businesses is available on the second floor, with 23 suites, Reynolds said.

"There really hasn't been an option for that in Decatur," Reynolds said of the shared office space idea. Reynolds had thought about renovating the current Regions Bank building, but the cost of doing that didn't add up. Getting Regions to join in the space in the new building helped make the development possible, Reynolds said. Moving to a 20,000-square-foot space on the south end of the new building will allow the bank to have its downtown office and drive-up facilities at one spot, said Tim Hill, executive vice president for the bank's Illinois and western Kentucky region. "We did not consider a lot of other alternatives," Hill said.

"It's going to be a good boost for the community."

Regions has about 50 employees in Decatur who will move into the new office, Hill said. Mayor Paul Osborne said the development is the start of more to come for downtown Decatur. "It's going to help with the launch of other good things in our city," Osborne said. "The Reynolds didn't have to build this here."

The project, which was made possible in part through tax incentives from economic development corporation resources, is an example of local investment, Coil said.  He hopes it will help set the tone for an expanded professional office environment in downtown. "We have the foundation in place already to help sell the community with this high-end building," Coil said.

Consociate/Dansig employees will move from the company"s other offices, including one it has outgrown on East Decatur Street, Reynolds said. "We're literally out of space," Reynolds said.

"We're busting at the seams"

Since it started in 1995 with 13 employees, Reynolds said the companies have grown to 80 workers. Dansig is an insurance broker and Consociate deals with health insurance claims, with one of its major clients being Archer Daniels Midland Co.

Plans have not been announced as to uses for the spaces the companies are vacating. The city has agreed to acquire properties on the west side of the block to demolish or rehabilitate. Chris Lusvardi can be reached at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or 421-7972.