City Councilmember Zack Matheny has asked for information on the status of the old Regency Inn and Suites at several City Council meetings.
It appears that Matheny received at least some of the information he has been requesting in the agenda packet for the Thursday, Oct. 27 work session.
According to the agenda packet, the old Regency Inn and Suites at 2701 North O. Henry Boulevard is vacant.
The agenda attachment states, “Property is currently held by Partnership Homes in vacant status pending resolution of the rehabilitation and re-use plans.”
It also states, “Total transition cost estimated to be $13.5 million.” The estimated cost is not much higher than the estimated cost in October 2021, which was $13.1 million.
In November 2021, the City Council agreed to make a deferred payment, no interest loan of $3 million to Partnership Homes to purchase the motel. The loan covered the $2.75 million cost for the land as well as $40,000 for repair and cleanup, $75,000 for architectural design, testing, surveying, attorney’s fees, inspection, insurance, a phase 1 environmental report and other expenses. It also included $100,000 payment to Partnership Homes as an administrative fee.
The plan was for Partnership Homes to spend an additional $10 million for the renovation. At the time the source of that $10 million was unclear, but it was said that Guilford County was expected to pay some of the cost to turn the old motel into a permanent supportive housing facility for the chronically homeless.
Before the $3 million loan was approved, City Councilmember Marikay Abuzuaiter questioned the cost of the upfit, which was estimated to be about $150,000 per room. Councilmembers also questioned the advisability of allocating $3 million for a $13 million project when the source of the other $10 million was unknown.
In March of this year, Partnership Homes submitted a request to Guilford County for $6.5 million in American Rescue Plan money but has not received approval for the grant.
The agenda packet states, “Present – Conversion delayed due to lack of funding commitments.”
Thanks for sharing. We all have problems with this plan and why cant we pursue this route since we have invested,3million tax payers dollars.
And any of this surprises anybody. Sorry that wasn’t nice, it does surprise the people in charge of Partnership Homes that someone in a leadership position with the city would question where the money went. From recent and not so distant history it will probably be turned into a racist thing , ie the international civil rights center and museum when they are asked for accountability of the millions of dollars the city has given them. Just Saying
In what universe does it cost 150k to renovate a motel room. Are these people totally stupid or just really inept. I’m guessing they don’t care because they don’t have any bill personal money involved. Hell i could build a really nice house for the cost of 2 of those rooms
They could build a house for 150k
$150,000 per room! Sounds like they used the same math as City and County officials used for school bonds.
About what you would expect from this council with the exception of one who actually ask questions. Pitiful group.
Apparently, the City searches for organizations that have no money and no way to obtain any. So, the property sits in limbo and continues to decline from it’s already bad condition.
Way to go Skip!!! So many of us are so happy you were elected. Finally someone is questioning the Mayor and Council decisions instead of just being a bobble head doll to the Mayor. You are going to keep finding things like this. Many of the citizens sat and watched in utter disbelief in what the Mayor and Council have done the last four years. They are trying to be business people but obviously are not trained for being in municipal business. The Mayor has fooled them for too long. You go Skip! Keep it up!!! Marikay, go ahead and asked the questions. Don’t worry about the Mayor..worry about your constituents. The Mayor is not always right. Not even close. I challenge all of Council and the Mayor to look at their actions over the last 4 years, look at the cost of those actions and look at results, if there are any.
Way to go chrissy but skips not on the council
Just following the Woolworth’s model of financing.
What a doonboggle! Plenty of taxpayer cash for all the enablers. At the point this thing quickly fills up and becomes yet another drug-house, then there will be more illegal immigrant drug-addicted homeless arriving for more handouts.
This giant transfer from the taxpayer to the moocher, is nothing more than yet another socialist wealth transfer by coercion.
I can build an entire house for $150,000. To remodel a room costs anywhere from $500.00 to $15,000.00 if the bathroom needs gutting. Put in a small fridge, microwave, and nice toaster oven for another $1,000.00 and you have it! Oh, I forgot about the $135,000.00 in administration fees which will be lost due to dropping the computer
and the hard drive gets destroyed. I think I’ve seen that somewhere.