So when the city Redevelopment Authority asked Kettering if he'd like to buy the vacant Asian Restaurant building, which the authority had acquired as a blighted property, he was skeptical about the potential for profit.

But after three months of research, he changed his mind.

He and his wife Cinthia, are spending about $165,000 to buy and renovate the building, putting a bistro in the restaurant space and upgrading the second floor apartment to a luxury unit.

"We felt it could probably work, if it was done right," said Kettering, explaining the decision to try his first restaurant rehab.

A number of factors encouraged the couple, who are handling the project through their real estate firm IronLinks Investments, based at Orange and Charlotte streets.

The 15-seat Asian Restaurant at Pine and Frederick streets, a block east of College Avenue, once was highly popular, neighbors attested. Newspaper clippings mounted inside the dining room said the same.

The once-thriving business folded after the owners got divorced, Kettering learned.

In addition, four years of vacancy did not change the fact that the 2½-story building, constructed in 1900 and encompassing 2,260 square feet, still had an excellent location.

Dozens of people walk by the corner daily and hundreds more work at nearby Franklin & Marshall College, Lancaster Theological Seminary and elsewhere.

The Ketterings bought the property from the authority for $65,500 on March 28, according to courthouse records. They expect to spend about $100,000 more on improvements.

Work to the apartment should be finished in two or three months, said Kettering. It will be converted from a three-bedroom unit to a two bedroom, resulting in a larger living room.

It also will have hardwood floors and a high-end kitchen with granite counters. One of the building's four adjoining garages will be included with the apartment.

The restaurant, to be named Sean's Bistro in honor of the Ketterings' 7-month-old son, will open in about nine months, serving lunch and dinner. It will not have a liquor license.

Kettering said the European-style bistro will have the same number of seats as did the Asian Restaurant. But, by removing a bar and office, the size of the kitchen will double. Kettering is seeking someone to operate the bistro.

The Ketterings, of Pequea, buy, renovate and sell three or four houses per year, as well as renovate about 20 a year for other investors.

In addition, they run IronLinks Financial, a loan brokerage, notary, credit-repair assistance and translations business, and an insurance brokerage, IronLinks Insurance, that represents 40 lenders.