Daou winery owners buy historical Paso bank building. Here’s what they’re doing with it
Georges and Daniel Daou have just increased their San Luis Obispo County holdings.
The brothers, whose commercial enterprises include Daou Vineyards & Winery in Paso Robles and the future Daou Ocean project in Cambria, closed escrow Jan. 22 on the nearly century-old Bank of Italy building at 1245 Park St. in Paso Robles.
The historical building is at the corner of Park and 13th streets, a block north of Downtown City Park.
The brothers plan to remodel, renovate and convert the imposing brick building that’s been listed on the National Register of Historic Places since 1998.
According to Daou senior vice president Maeve Pesquera, the company will use the building as its downtown headquarters.
She said the 15,000-square-foot building “is historically significant for its Renaissance revival architectural style and its devotion to commerce in the early days of growth and prosperity in small town Paso Robles.”
“Our goal is the continue to vision and purpose of the original architect — Arthur Nyberg — and activate this building’s position as a center of commerce in the world-class wine growing region of Paso Robles,” Pesquera said via email.
“We will utilize the upper floors of the building for our corporate offices and there will be a hospitality venue on the first floor” that will feature Daou wines, she said. “We will clean the exterior of the building and maintain its iconic façade and existing architectural style.”
“We will not change the façade or any historic elements of the building,” she said, which “has been vacant for a number of years and there are no current tenants. It will be used exclusively by Daou.”
Pesquera said permitting will start immediately. We’re hoping to open our offices there for the 100-year anniversary of this special property in 2021,” she said.
Pesquera said the brothers declined to say how much they paid or to whom for the building, “out of respect for the seller.”
History of Bank of Italy building
According to the National Register’s 1998 statement of significance, the Park Street building, designed in the Renaissance Revival style, completed construction in 1921.
The three-story structure had been “one of the city’s most important commercial buildings” since then, the National Register statement said, housing Bank of Italy and, later, Bank of America. “It is also a fine example of what a notable bank ... can do for the growth and prosperity of a small town.
“The building housed many of the town’s prominent businesses and several organizations held their lodge meetings on the third floor,” the statement said. “Well-preserved and carefully maintained, the building continues to serve Paso Robles today as both a beautiful city landmark and a primary business location.”
Previous owner Ali Salmanzadeh purchased the building in 1992, according to his National Register application.
Salmanzadeh’s restoration of the building’s upper floors, which began a year later, won the California 1996 Main Street Business of the Year award in part because there were “minimum alterations to the original structure,” National Register reviewers said in the final listing document. “The effect of the work helped to preserve the building’s original beauty, but more importantly, it allowed the Bank of Italy Building to continue its historic involvement in the community as a home to local businesses.”
Daou owners plan to honor Paso Robles’ past
“The old Bank of Italy/America building is so iconic in downtown Paso. How fitting that Daou will be its new owners – they understand how important it is to honor the past while forging boldly into the future.” said Joel Peterson, executive director of the Paso Robles Wine Country Alliance.
“It is a grand and historic building, one that my grandfather worked in nearly 20 years at the Bank of America, and knowing Daou has purchased it with plans to renovate and invigorate is exciting,” Peterson said. “It will be another gem in downtown Paso Robles.”
Co-proprietor Georges Daou said that purchasing the Bank of Italy building presented “an exciting opportunity to revive a vibrant part of Paso Robles’ historical downtown.”
“We feel humbled to contribute to this community we love tremendously, he said, and “proud to headquarter in downtown Paso Robles where beautiful restaurants, coffee shops and guest attractions are becoming world class.”
Daou said he and his brother “will continue to invest in our region where we see fit to add to the intrinsic beauty we found when we came in 2007. ‘Live the dream — come to Paso’ has always been our true north.”
His brother, Daou winemaker and co-proprietor Daniel Daou, said “Paso Robles has been our home for the last 13 years and we are honored to have the opportunity to invest in this community that we truly believe is the new frontier for world-class wine.”
“If you look at all the acquisitions we have made, they all share a distinct thread — the thread of history and pedigree,” he said. “We believe in Paso Robles and the Central Coast. We know that these very unique sites and properties speak to the significance of this region and want to restore their voice.
“When we see these significant sites neglected, we feel compelled to try to revive the beautiful history and the original glory and intent of their creation.”
