Montgomery plans to buy hotel, redevelop property
MONTGOMERY, Ala. (AP) — City officials in Montgomery plan to purchase and implode a hotel, allowing them to sell the property for redevelopment.
The Montgomery Advertiser reports (http://on.mgmadv.com/QG7Uec) that city officials expect to spend $850,000 for the State House Inn Plaza, which is still operating as a hotel.
Deputy Mayor Jeff Downes said the contract has already been negotiated and is in the process of being signed by all parties.
The 69,000-square-foot building on Madison Avenue was built in 1962.
Downes said money for the property will come from a $67.5 million bond issue the city made in 2010 to pay for redevelopment projects on that part of Madison Avenue.
Montgomery Mayor Todd Strange said he hopes to have the hotel closed by the end of the year.
Information from: Montgomery Advertiser, http://www.montgomeryadvertiser.com