The Monticello Arcade was constructed in 1907 on land leased from the Selden Grandy Estate. Business boomed in the Arcade as downtown Norfolk’s commercial area expanded until the Great Depression, at which time Monticello Arcade Company, Inc. filed for bankruptcy and the building returned to the Grandy Estate.
The Arcade survived the remainder of the Depression in the hands of its new owners and went on to prosper in postwar Norfolk. Businesses in the downtown area began to suffer in the early 1960s, and during that time the Monticello Arcade began to deteriorate as revenues decreased.
By the 1970’s, the Arcade was in poor condition with only a few remaining tenants. Threat of condemnation loomed until 1975, when the building attained landmark status. In 1976, management of the Arcade was taken over by the newly-created Monticello Arcade Limited Partnership. General partners Hartwell & Wiley Gary undertook many major renovations.
By the early 1980s the downtown Norfolk area had been significantly restored, with resulting recovery of Arcade business. Today the Monticello Arcade is at the heart of the business and retail district. Click here for information on available suites.
