Heritage House on way to foreclosure, along with debt - WALB.com, Albany News, Weather, Sports

Heritage House on way to foreclosure, along with debt

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The clock is running out for a North Carolina company who owns one of Albany's biggest eyesores to do something with the property before the city takes over.

Last month, A Dougherty County jury found in favor of the city's request to tear down the Heritage House hotel.

Not only is it an eyesore they say it's unsafe and a health hazard.

The deadline is the end of business Friday.

Earlier this year, a last minute appeal kept this eyesore standing. Friday city officials hope for a different outcome and a chance finally to take the building down. At 5:00 they'll know.

"The city's authorized then to move forward and do the demolition," said Nathan Davis, Albany City Attorney.

That's if owners Greenbrier Holdings LLC of North Carolina don't appeal. Capital City Bank has already started the process to foreclose on the property. It could be sold on the courthouse steps Tuesday, November first if Greenbrier doesn't settle their debt.

"Anyone that purchases it would purchase it subject to the court order so the purchase would not stop or de-authorize the city demolition," said Davis.

It would also leave them with a pile of bills. Digging deeper we learned whoever buys the property also assumes the debt which includes more than 26,000 in back taxes. But if no one buys it.

"The lender Capital City would in effect what's called buy in the property of course they wouldn't have to pay themselves, they have a debt on it," said Davis.

Leaving the property with the city's cost for demolition around a million dollars, plus the taxes. City officials say if they get the opportunity to tear it down they're looking at out of the box ways to do it and say the entire process will take some time.

"The bid process will take weeks once a bidder is selected as the contractor that will be doing the work and remember there's two things, there's the asbestos abatement and there's the demolition," said Mike Tilson.

Asbestos work will be completed first. There's no money budgeted at this point for the project. City leaders today said they'll start laying out plans of how they'll proceed once they reach the close of business Friday.

Greenbrier Holdings previously claimed they tried to get the city, state, and federal governments to help renovate the building to provide housing for college students, Seniors, Or veterans. They also tried to sell the property but had to foreclose after the buyer failed to develop the property. Thursday, they didn't return our calls for comment.

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