The City of Franklin and the counties of Southampton and Isle of Wight are blessed with many local treasures. In Franklin, one of those has been the property at the top of the hill on Second Avenue known as the Pace House.

Once a residential home turned library turned school board office, the Pace House’s most recent incarnation was as a bed and breakfast, when it became known as the Pace House Inn. For several years, partygoers and out-of-town guests alike enjoyed the unique atmosphere of the home — originally built at the turn of the 20th century — provided for Christmas parties, bridal receptions and overnight stays.

Persian rugs, antique furniture and seemingly 20-foot-high ceilings gave the establishment the feel of another era.

Members of this editorial staff were often lucky participants in festive evenings spent with good friends and family at the Pace House.

Yet, we wax nostalgic not to mourn its demise, but because we remain hopeful for its future. As the closing of a Franklin landmark may be reflective of our current economic condition, we don’t subscribe to the notion that it is indicative of our future.

Potentially interested investors pay frequent visits to our fair city as they scout the living conditions and local amenities. The Pace House would go a long way toward stating our case.

We hope those charged with economic redevelopment don’t lose sight of the asset it has been — and should be again — to Franklin.