Fenway Hotel purchase plans back on track
DUNEDIN -- A Pennsylvania real estate development team confirmed Friday that it has reached a verbal deal to purchase the iconic Fenway Hotel.
Christy Bower said she and her father-turned-business partner James Bower got word from PNC Bank Thursday that their offer to buy the foreclosed 6.4-acre waterfront tract at 453 Edgewater Drive was accepted.
She said the bank made the closing date contingent on final approval by the city, which will present the plan in coming weeks to neighbors, a citizen advisory board and the City Commission. The property is in receivership and must also get a judge's approval before the Bowers can assume control of the land, officials said.
The announcement comes three months after the Bowers said PNC’s failure to promptly act on their offer had prompted them to back off the buy.
The Bowers plan to demolish the deteriorating landmark and build in its place a 90-room boutique hotel featuring 1920s interiors and artifacts, about 30 waterside condos and up to 19,000 square feet of conference space. The hotel would be similar in size and retain the same look and name as the original Fenway.
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