Home Real Estate Shelby Seeking Takers for Historic Hotel Site
Real Estate

Shelby Seeking Takers for Historic Hotel Site


Century-old brick buildings are the rage. Numerous developers and towns are doing what they can to rehabilitate and re-establish the structures as going concerns. The city of Shelby is looking to spur redevelopment of a downtown building that dates back to the 19th century.

The Charlotte Business Journal reports that the city solicited proposals seeking development partners for the historic Hotel Charles building at 106 South Lafayette St. in the uptown district. The city is eyeing the three-story, 32,000-square-foot building as an upscale boutique hotel with 35 to 38 rooms on the second and third floors. The first floor can accommodate 3,000 square feet of retail space and 5,000 square feet of food/beverage space.

The city estimates that redevelopment of the building will cost $13.5 million. The Hotel Charles was built in 1929 and operated until 1967. The building is part of the Central Shelby Historic District, and the redevelopment is eligible for historic tax credits.



Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...