GBX Group Forms Local Partnership to Advance Arts-Themed Campus in Asheville’s River Arts District

ASHEVILLE, NC - GBX Group LLC is pleased to announce a formal partnership with Asheville-based development leaders Chris Eller, Eddie Dewey, and Brent Starck (the "Foundy Team"), a major milestone in advancing the recovery and reactivation of Asheville's River Arts District following Hurricane Helene. The partnership includes the investment in historic properties on Foundy Street - 4, 5, 11, 17, 26, 27, 36, and 42 Foundy Street - and 289 Lyman Street, located in the River Arts District. This partnership, along with GBX Group's investment inRiverview Station at 191 Lyman Street, reinforces the partners' long-term commitment to Asheville and establishes a unified strategy to strengthen the River Arts District as an arts-themed campus that supports the city's creative economy.

"Following the devastation from Hurricane Helene, our team has focused on initiatives to help reopen the River Arts District and restore its place as one of the country's most vibrant centers for creative work," said Taylor Davis, a GBX Group representative. "Partnering with the Foundy Team builds on the momentum from the reopening of Marquee Asheville and creates a unified investment strategy to rehabilitate and reposition Riverview Station and the other historic properties along Lyman and Foundy Streets so they can support Asheville artists and entertainers."

A Coordinated Plan for Stabilization, Tenant Reactivation, and Long-Term Redevelopment

Through the newly formed partnership, GBX Group and the Foundy Team will align expertise in adaptive reuse, large-scale development, and community-centered placemaking-bringing coordinated decision-making and local leadership to accelerate near-term readiness and long-term planning across a growing campus footprint in the River Arts District.

"We've all watched the River Arts District fight its way back, and the speed of that return has been inspiring," said Chris Eller, on behalf of the Foundy Team. "This partnership is about aligning resources and decision-making, so the district's recovery is not just timely-but lasting. We're focused on stabilization and tenant readiness now, while also building a coordinated plan that supports artists, makers, and small businesses for the long term."

For years, Riverview Station and the surrounding district have served as home to dozens of working studios and small businesses. Hurricane Helene displaced tenants, damaged buildings, and disrupted commercial and artistic activity across one of Asheville's most beloved creative corridors-where flooding reached 24-25 feet in some areas.

A phased strategy is now underway that prioritizes stabilization, returning-tenant support, and long-range redevelopment planning. Early progress across the district includes the highly successful Marquee Asheville reopening, which welcomed more than 5,000 visitors and showcased nearly 300 regional artists, underscoring the resilience of the creative community and strong public enthusiasm for the district's revival. Additional tenant buildouts are also underway, including a rock-climbing facility, new restaurant concepts, and the relocation of an established woodworking shop-all contributing to renewed activity.

"GBX Group views the River Arts District as a hit-the-ground-running investment opportunity since many of these projects are already underway," Davis added. "Our team has the resources and the plan to accelerate the district's recovery and to support the artists, makers, and small businesses who form the heart of Asheville's creative community."

About GBX Group LLC

GBX Group LLC specializes in acquiring, preserving and operating historic real estate in urban markets. The company partners with investors to fund the acquisition and preservation of historic real estate with the goal of generating community revitalization and economic growth. As of January 2026, GBX has been involved in 216 real estate projects in 24 states. For more about GBX, visit gbxgroup.com/.

About Chris Eller, Eddie Dewey, and Brent Starck (the "Foundy Team")

The Foundy Team brings together three Asheville-based leaders whose combined backgrounds span real estate, design, entrepreneurship, and community-focused development. Chris Eller, a graduate of North Carolina State University, has built a career in strategic development and place-based revitalization, bringing deep experience in guiding complex projects with long-term community impact. Eddie Dewey, founder of Dewey Property Advisors, oversees a broad portfolio of commercial real estate investments and has established a reputation for delivering thoughtful, sustainable growth across the region. Brent Starck, an entrepreneur with a multidisciplinary background in art, design, and business, has developed multiple creative ventures and teaches in the Master of Fine Arts program in Furniture Design. Together, the three bring complementary expertise that blends investment strategy, design sensibility, and a commitment to strengthening Asheville's creative economy.

####

Photos by Fraiche Photography