A Staunton landmark that was shuttered last fall because of unsafe conditions, is taking a step toward a new life. The Beverley Hotel was very quietly auctioned off Monday, and the new owners hope to see it revitalized.
Monday's sale of the Beverley is the first of what sounds like many steps toward renewal of the century-old building. The new owners say they're unlikely to take on a renovation job themselves, but will likely market the historic structure to another developer.
Monday's trustee sale resulted in a winning bid of $50,000, from Adamson Development of Richmond. The auction drew just two bidders, but several spectators.
Among them was Staunton Councilman Bruce Elder, who lives and works next door to the Beverley. Elder is optimistic about the building's future, but says the forced sale is the end of a sad chapter for its former owner.
"He suffered a fire at another business, and took his attention away," Elder said. "So I'm sorry for him, but I'm hopeful for the new owner, and I hope to see investment in our beautiful downtown."
Dozens of apartments inside the Beverley were evacuated in September because numerous health and safety violations made the building unfit. The vacant Beverley is at the corner of Greenville Avenue and New Street, at a main gateway to Staunton's downtown.
Though the purchase price was $50,000, Adamson takes on more than $600,000 in debt and overdue city taxes and cleanup fees. The eventual revitalization project could have access to historic tax credits and other incentives.
