By Eric Curl
April 10, 2022 – The owner of the former city municipal building at 132 East Broughton St. sold the historic mid-Century building to Colorado-based M/A Capital Ventures for $6.25 million last month, almost three years since the city sold the structure for $4.5 million, according to sales records.
The sale comes after plans were submitted in March 2020 to renovate the building as a 45-room hotel with a restaurant and a bar. In June 2020, Lynch Associates Architects received a 12-month extension of the certificate of appropriateness issued in June 2019 for rehabilitations, alterations and a rooftop addition, according to Historic District Board of Review meeting minutes. More recently, a building permit application for the project was submitted in December last year, but the application remains under review, according to city records.
The building was constructed in 1959 and is a contributing structure within the downtown Historic District. The property was purchased from the city for $4.5 million in June 2019 by a subsidiary of Atlanta-based Columbia Ventures, according to the property record.
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