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City has yet to finalize Charlotte Inn purchase

CHARLOTTE – The city, which was set to close on the troubled Charlotte Inn property on April 30, is still negotiating with the property owner, and no new closing date has been set for the $1.46-million acquisition of the hotel at 2701 E. Independence Blvd.

Bob Drayton, the asset management and special projects manager with the city, said city attorneys are working out some details in the closing documents, causing the holdup. Drayton said he still fully expects the purchase to go through.

“It’s one of those things that happens with acquisitions, sometimes it takes longer to close,” Drayton said. “At this point we don’t have a closing date, but it should be within the next two weeks.”

The city has been set to buy Charlotte Inn and the land on which it sits since November, when the City Council voted to spend nearly $2.27 million on the hotel, an adjacent parcel of land and the demolition of the three buildings on the land.

The city on December 30 bought the adjacent piece of land, site of abandoned IHOP and Comfort Inn buildings, for $806,000. The city held off on the Charlotte Inn purchase because it was an operating business, giving the owner time to prepare for the sale.

Demolition on both parcels is set to begin shortly after the city acquires the Charlotte Inn.

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