Acorn Alley developer may be interested in old Kent hotel
October 25, 2011
Although the City of Kent made a $735,000 offer to buy the old Kent hotel last week, Ron Burbick has plans for the property, a knowledgeable source said Monday.
The source speculated that Burbick, the local entrepreneur behind Acorn Alley and Acorn Alley II, is the only local person with the financial capacity to take over the hotel, which rests on the corner of Main and South Depeyster streets.
“It’s a sense of pride for Ron Burbick,” the source said.
Within the past year, Burbick has had architects go through the building, the source said.
Councilman Garret Ferrara said the city is interested in marketing the hotel and selling it to someone else. No official offer has been made to the city. Although he couldn’t specify the interested party, Ferrara said the potential buyer is considering renovating it.
Burbick declined to comment.
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City Council will have a public special council meeting Tuesday at 7 p.m. in the Kent City Council Chambers to discuss the acquisition. Council approved the offer to buy the hotel last week after a closed-door executive meeting during the regular city council meeting. In addition to the $735,000, the council approved an allowance for up to $25,000 worth of closing costs.
The property’s last appraised value is $136,600, according to the Portage County Auditor’s website.
Contact Lydia Coutré at [email protected].
Contact Kelly Tunney at [email protected].
