ABERDEEN – Aberdeen Main Street closed a deal last week to purchase the former Parkway Hotel, clearing the way for the future demolition of the Tombigbee Motel and opportunities to revitalize the hotel.
The hotel was completed in 1925, and the motel part of the property was added in the late 1950s or early 1960s, and it has declined through the years.
Effective immediately at the time of the closing, the Tombigbee Motel was forced to cease business. The demolition and cleanup work of the motel has already been pledged.
In May, Main Street’s board of directors approved to pursue a 20-year $90,000 loan in order to fulfill an option on the purchase ahead of the mid-June deadline date.
Since December, more than $70,000 has been contributed from local and out of state investors on the property, and opportunities for more donations of any amount and buy-in stakes continue.
Aberdeen Main Street Director Ann Tackett has worked with Columbus developer Chris Chain in coming up with a plan to present to hotel investors.
She said in December potential uses for the hotel include meeting space for the local, county and federal court systems; a spa; high-end restaurant; reception space; coffee shop; and living space upstairs.
For more information on pledging financial support, contact Tackett at 319-7183. Donations are tax deductible through Aberdeen Main Street’s 501(C) (3).