Developers Robert Eyster and Michael Ramsey have plans for Kelly Donham’s former hole in the ground

UPDATED — Developers Robert Eyster and Michael Ramsey have added another downtown project to their plate.

“We took over the pit,” Ramsey says of the hole in the ground that developer Kelly Donham previously owned.

The property is on Douglas Avenue between Main and Market streets.

“I can’t tell you exactly what we’re going to do right now,” Ramsey says.

He does, though, say that it will be a multiuse building.

“It’s going to be in conjunction with some other things going on . . . on Market Street.

The developers are about to acquire more property on South Market Street.

It’s close to where the hole in the ground is, but it’s not adjacent to it.

Donham still owns the building where the Woolf Brothers department store used to be at Market and Douglas.

“He’s kicking some ideas around,” says Ted Farha of Farha Construction.

He’s the contractor for Donham’s project and for Eyster and Ramsey’s projects as well.

Farha says Donham is considering a number of possibilities for his site, including a hotel, a restaurant, office space or a mix of uses.

“Kelly . . . loves downtown and wants to do something,” Farha says. “I am certain . . . when he does do something with that building, it’s going to be very nice.”

Eyster and Ramsey are also working to transform the Zelman building at Douglas and St. Francis into apartments, retail and restaurant space.

They’re also going to remodel Victoria Park Apartments, which are now low-income housing, at 612 E. Douglas.

They plan studio and one-bedroom apartments for the approximately 18,000-square-foot building’s second and third floors. They’re  contemplating event space for the first floor.

Look for more news on their Market Street plans within a week.