The Inn at Boynton Beach is one of the first buildings drivers see when exiting Interstate 95 onto Boynton Beach Boulevard.
Boynton Beach officials consider this aging hotel an eyesore and plan to demolish it.
To do that, the city must buy the property as part of its plan to redevelop the area and raise the city’s profile. Newly elected Mayor Rebecca Shelton negotiated a proposed $8 million deal with property owner Ajit Asrani during the July 25 Community Redevelopment Agency special meeting.
“You’ve been doing wonders with it since you’ve been present on the property, but looking back, it has been such a burden, and it does suck up our resources for that neighborhood with the police,” Shelton said to Asrani. “So it would be nice to change this property into something that made the town beautiful. No offense to your property.”
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Shelton and Asrani also agreed on a 45-day closing, but it’s not final yet. The Boynton Beach CRA Board has to approve the deal at the next meeting Aug. 12.
Asrani calls this deal a “poor investment,” as he bought the building in 2012 for nearly $4 million. And he feels that doubling his money isn’t much of a return. Despite this, he actively wanted to sell this property and was open to the city’s offer.
“I am stretching myself. I understand you have a duty to taxpayers to get the best possible deal,” said Asrani, who was pushing for $9 million. Shelton was at $7 million, and they met in the middle after discussion.
Boynton has big plans to redevelop the land west of Seacrest Boulevard
City officials are focused on this 2.11-acre site, one of the largest pieces of land available for redevelopment west of Seacrest Boulevard. The city has plans to revamp the Boynton Beach Boulevard District and the corridor stretching from The Inn to the Florida East Coast Railway tracks.
In past board meetings, city officials pushed for these redevelopment plans to make the city more commercial and livable. This corridor in particular has extra traffic. It leads from the interstate to the Downtown District, which features spots such as the public beach and the library.
The city’s redevelopment plans include widening sidewalks, adding bike paths and on-street parking and improving pedestrian crossing zones. The district plan notes that the current conditions of the three intersection crosswalks make it difficult for residents to navigate: “Pedestrians must walk several blocks in order to cross the Boulevard.”
The plan also proposes additional intersection enhancements such as directional signs, public art, new pavement and landscaping to make the area more appealing. These upgrades aim to create a stronger first impression of the city and attract more visitors.
“There are no destinations along the corridor to attract the interest of visitors or residents other than City Hall and the Post Office. The majority of the businesses belong to the small service industry with few employees. The buildings are outdated, being constructed from the 1930s to the 1970s,” the plan says.
The four-story Inn at Boynton Beach was built in 1981
The Inn, which once operated as a Holiday Inn, sits at the southeast corner of Boynton Beach Boulevard and Interstate 95. Built in 1981, the four-story hotel is visible from the interstate, with chipped blue-gray siding, a faded parking lot and rusty exterior AC units.
Suraj Dalal of Kabani Hotel Group, a hospitality brokerage firm, virtually attended the negotiation meeting as the representative for The Inn property. Dalal said in an interview that the hotel is “replaceable” because of its age and condition.
“I think the location has a large part to do with (the city wanting to purchase the property). But the condition of the hotel is … well, it needs work. It’s not a Class A building by any means,” Dalal said.
Dalal said the city was lucky to land the deal at that price. Shelton said during the negotiation that the demolition would cost the city about $1 million.
There are no current plans or timeline for redevelopment of the property, but the land has potential for multiple types of development.
This article originally appeared on Palm Beach Post: Boynton Beach nears $8 million deal to purchase, demolish aging hotel off I-95
Reporting by Michael Cook / Palm Beach Post
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