Belden Draws New Plans for Old Properties

Fayetteville real estate developer and investor Ted Belden loves old buildings, and he is proving it yet again.

Belden and his wife, Leslie, own Old Buildings LLC, and have added two new projects to their portfolio in the past month. The Beldens chipped in $1.75 million for the properties, one of which is almost 100 years old and the other more than 130 years old. They plan to renovate the properties and convert them into mixed-use residential spaces.

“My wife and I came to understand the value of these older buildings,” Ted Belden said. “A lot of people want to tear them down, and we don’t want to see that happen.”

The first property, on Center Street in downtown Fayetteville, is actually two buildings totalling 8,000 SF, for which the Beldens paid $1.25 million. Built in 1925, the buildings are home to a law office and the iconic Fayetteville leather store The Flying Possum. The theater Stage 18 once occupied a space under the law office before it closed in 2019.

Ted Belden said he plans to renovate the building, putting in two or three residential lofts to go with the commercial spaces.

The Beldens spent $500,000 on the second property: two tracts totaling 2 acres in the 1600 block of North Crossover Road in east Fayetteville. The so-called Smyth Property is centered on a 1,590-SF home built in 1887.

Belden said he plans to build a small subdivision of 14-16 homes while keeping the original home on the site as the centerpiece. “We want to do something unique on that side of town,” he said.