Renewed Hopes for Unused Hotel

WILMINGTON, DE-Plans to finally open the ill-fated hotel at 401 Airport Rd. have been resurrected with the new property owner’s recent submission of an exploratory land development plan to the New Castle County Department of Land Use. St. Petersburg, FL-based Republic Bancshares Inc. made the loan to the developer for construction of the hotel, and later won the property for itself in a foreclosure-induced auction. Republic is seeking approval for the existing structure, as well as additional improvements on the 16-acre property.

“Obtaining land development approvals will better position the hotel for sale to a third-party purchaser,” explains attorney Kimberly Brosseit, speaking on behalf of Republic. “If the New Castle County Board of Adjustment grants the necessary relief and New Castle County thereafter approves the plan, the property will achieve compliance with its land development plan, an important requirement.” Before giving the thumbs up on the project, the Department of Land Use will conduct public hearings to assess community response to the proposal.