The Albemarle Hotel has seen better days, but the best may be yet to come in this nearly 100-year-old building.
Developer Jordan Jones and his Durham-based company Anchor & Pillar have plans to convert the building into The Residences at the Albemarle Hotel.
The plans include 29 rental apartments, ranging from 1 to 3 bedroom units – priced from $ 900 to $ 1,600 per month, along with floor-level commercial space. Units will range from 500 to 1,400 square feet.
Jones said the ideal is for a restaurant to occupy more than 4,000 square feet of space where the large lobby and dining room used to be.
“It is important to me that they remain accessible to the public and that is why we are looking for a restaurant,” said Jones of the entrance area.
He hopes to start renovations in June and aims to complete the summer of 2022.
The building has been empty for about 20 years. Jones said that if he waited another five or ten years to do this project, it would be too late.
Ceilings are falling and vandalism has happened, Jones said. Most of the building’s windows were recently removed by Double Hung, LLC of Greensboro, which specializes in window restoration.
Jones started studying the Albemarle Hotel project in 2017. It took about 15 months to complete the approval process, as the property is historic.
“The city has partnered with Uwharrie Bank and ADDC to hire the School of Government to come and do a study on the hotel to start this whole process,” said Albemarle Mayor Ronnie Michael. “We realized from the beginning that we would need housing in the city center and for the city to be revitalized we need people living in the city center. This housing is a key element in having a vibrant center. Restaurants, shops and other amenities will come to the city center when the need arises. The residents of the city center will create this need ”.
Michael said the city believes the Albemarle Hotel will also encourage non-residents to venture downtown to dine and shop.
“The city is investing in the Center with the expectation of a revitalization,” he said. “We are already seeing investments from individuals in our center and we expect this to continue in the coming years.”
Stanly County Economic Development Commission Director Candice Lowder agreed with Michael, saying that “a rehabilitation project of this size will further increase the city center Albemarle. “
Jones said there are specific requirements through the U.S. Department of the Interior and plans must also be submitted to the NC’s Office of Historic Preservation and the National Parks Service to show the rehabilitation process.
In addition to renovating the simple wooden glass windows, Jones said he plans to maintain the building’s historic corridors and restore any plaster found in the building, especially in the lobby and dining room.
“All non-historic components will be removed from the building and rebuilt from scratch,” said Jones.
The project will cost more than $ 8 million through private investments and investors in historic tax credits. More information on how local investments can benefit the community will be revealed in the coming weeks, Jones said.
Stokes Construction signed a contract to do the renovation project, with Jones saying it is another bonus for keeping local jobs.
“I recognize the important significance of this building in the community,” said Jones. “I prefer to reinvest in small communities like Albemarle.”
Jones’ work has family ties. His company completed The Residence at Prince Charles in an old hotel in downtown Fayetteville, built by his great-grandfather’s company. Her mother and aunt were raised in Badin, with her grandfather working at Alcoa.
The Prince Charles project is similar to the Albemarle in that the hotel was built in the 1920s, but has more apartments and retail space than the Albemarle Hotel. He also had projects in Elizabeth City, New Orleans and Winnsboro, South Carolina.