Pawn shop owner hopes new site anchors growth

SPRINGFIELD — A broken water pipe and the ensuing flood for one downtown business owner has now spawned ideas of greatness.

Sam Beloff, owner of Rose City Fine Jewelry and Loans, LLC, was forced out of the space his business occupied on the ground floor of the McAdams building — 37 E. High St. — after a pipe burst, flooding the basement of the building with what Beloff said was 14 feet, or about 800 metric tons, of water.

Beloff was lucky, though, in that there was no water in his store, but he was directly over the flood zone, which made staying impossible.

“High Street is on a slight grade, so the water was flowing away from us. We tried to hang on. We didn’t want to move the store — we had a great location on the downtown core block,” he said.

Moving the business is a project that will take Beloff and his two employees three to four months, he estimated.

“And we’re only two weeks into it,” he said.

The store is now located at 26 N. Fountain Ave.

The historic building Beloff decided on was originally constructed as a hotel with the lobby standing where his showroom, display cases and storage area now reside.

“The upper floors were the rooms and there was a bar in the basement,” he added.

Beloff is a third-generation pawn broker who grew up being a part of a downtown business. His grandfather, Max Beloff, opened Max’s Jewelers and Loan in 1933, which is now operated by Sam’s father, Larry.

Sam Beloff, who started in business with his father, sold his interest in Max’s a few years ago. He then teamed with friend and investor Glenn Altschuld Jr. to open Rose City in 2006.

When the flood forced him to start shopping locations, Beloff looked at two other spots outside the downtown, but realized he had to remain at the city’s core.

“But being such a proponent of the downtown, I felt I needed to stay.... I’ve always been an advocate for focusing on development that includes re-establishing what exists along side developing new and true leadership comes from acting on your beliefs,” said Beloff, a founding member of Center City Association.

The space Rose City now calls home is part of the only downtown block that has complete retail store frontage, Beloff said.

He’s now envisioning the block filled with boutique retail shops and eateries that will provide a reason for people to frequent the downtown.

“If we can make this block an anchor point, we could be known for something good again. It’s an investment of time and money, but we can create a pleasant place for people to shop and do business,” he said.

Beloff wants his individual business success, to be sure, but he’s working to help create a successful business arena for anyone who chooses to locate downtown.

“I want great success,” he said, “and to do that, it requires many businesses coming together.... The only way to achieve that success is to bring many into the fold, which will create more jobs and increase the tax base for the city.”

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McAdams Artists’ Co-op

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Linda Cushman, attorney

U.S. Post Office

Most locations were provided by Jim and Tom Lagos

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