|
|
Historic Chamberlin Hotel Comes Back To Life After facing 20 months of uncertainty, a new owner has emerged to buy the historic Chamberlin Hotel, located at Fort Monroe, in Hampton. The new owner has permission to transform the landmark building into a retirement center with the emphasis being on retired military. OPC Hampton LLC signed an Army 50-year ground lease agreement Monday, that was executed by the Real Estate Branch of Norfolk District, Army Corps of Engineers. The Chamberlin Hotel has been virtually stagnant for the past 17 months in Chapter 11 bankruptcy protection. With new owners, this clears the way for the Chapter 11 bankruptcy court to approve the transfer of ownership of the Chamberlin, effective December 1st. “This lease signing results in a win-win situation for the U.S. Army, the developer and the Hampton Roads community,” said Chief of Real Estate, Dillard Horton. The new 50-year ground lease was approved through a programmatic agreement between the State Historic Preservation Office and the installation commander at Fort Monroe, to satisfy issues raised on the future use of the Chamberlin. The agreement allows the Chamberlin to be used as a retirement center, with initial emphasis on unassisted living. Approval was also granted to construct an additional building adjacent to the hotel to accommodate assisted living, and a 3-level parking garage with Fort Monroe utilizing the third level for their parking needs. © Copyright 2000 - 2004 WorldNow and WTKR. All Rights Reserved. |