It’s one of the most unique properties in downtown Traverse City. The Candle Factory and Home Elements building on Grandview Parkway – which has been operated by John and Marcia Teichman for over half a century, since 1973 – was previously a warehouse and once home to the Traverse City Gas Company. It’s retained its industrial feel and rustic charm for generations – and now daughter Sarah Teichman Marek is hoping to help her parents preserve the building for the future, bucking the trend of owners selling valuable downtown properties at retirement.

Don’t get the Teichmans wrong: They’re ready to retire. After more than 50 years in business, including an initial start in the Open Space before purchasing the Candle Factory building, the couple are now in their 80s and ready to rest. They also need a viable income stream for retirement. The obvious solution would be selling the Candle Factory property, a prominent parcel directly across from a public beach with water views of Grand Traverse Bay.

But Marek says the family is passionate about the unique history and character of the building – and doesn’t want to see that change. “We’ve been blessed by a community that has supported us generation after generation,” she tells The Ticker. “(Selling) might be the easy way out, but it’s not our heart’s way.”

Instead, the family is looking to partner with the community to envision a new future for the space. In mid-April, the Teichmans will temporarily close down the Candle Factory. They’ll then move the Candle Factory business into the Home Elements space, consolidating the two businesses. Marek says they hope to open the reconfigured retail store in early May.

From there, the family will be “actively exploring new uses for the main building, with the goal of preserving this unique landmark,” Marek says. She says her father looked at a variety of options in recent years, but none of the ideas came to fruition. The Teichmans are open to different uses and partnership arrangements but are particularly drawn to using the building as a community gathering space or venue of some kind.

“We’d love to see it used in a way that continues the sense of comfort, calm, and hygge that the businesses have,” Marek says, referring to the Danish concept of creating inviting, intimate atmospheres. Marek cites a pop-up Christmas market as an example of a compatible use. “The building has never been fancy, but it’s authentic,” she says. “It’s where you can be surrounded by history and natural landscaping. Our busy world isn’t going to get any quieter, but you can step into this place and feel grounded.”

The space is 4,500 square feet but has room for potential expansion, such as adding a mezzanine. Renovations are possible as long as the general historic character is preserved, Marek says. “Growth is important, but it’s also important to have that sense of place and where we came from,” she says. The family is open to working with a nonprofit or community group, though having a steady funding source – both to support the Teichmans in retirement and ensure the building is sustainable – must be part of the equation, Marek says. (Interested partners can reach Marek at sarah@candles.net.)

Retaining ownership is likely the best approach for financial viability, Marek explains. Downtown has experienced a growing trend in recent years of long-time owners reaching retirement – or feeling tempted by a white-hot real estate market – and selling their properties. That leads to taxes being uncapped on the parcels, which can significantly drive up development costs and/or rental rates for existing tenants. Luxury condos tend to offer a reliable rate of return for offsetting those expenses. However, that can also lead to the quiet departure of many long-time retail stores and restaurants downtown, especially mom-and-pop businesses.

TC Downtown Development Authority (DDA) CEO Harry Burkholder says that’s why his organization is looking to fund an upcoming retail study, which will explore ways to better retain small businesses like the Candle Factory downtown. “I totally appreciate their long-standing business and their desire to keep it local and keep it within the character of Traverse City,” he says of the Teichmans. “This study we’re trying to do for this next fiscal year would look at ways other communities have kept those businesses intact, or other programs or tools that are available that maybe we haven’t thought of yet.”

Marek says her family is willing to “get creative” to figure out how to maintain the Candle Factory building for the future. “We’ve had decades of people who’ve kept coming back and enjoying it, so now it’s figuring out how all the pieces come together to preserve it,” she says.