Effort to redevelop historic hotel in DeLand falls short

A Sarasota-based developer failed to raise enough financing to turn the closed Putnam Hotel into an apartment building

Miami /
Dec.December 31, 2017 02:00 PM

The Putnam Hotel in DeLand (Credit: Abandoned Florida)

Plans to redevelop a historic hotel in DeLand failed to advance despite a promised subsidy from the city.

Sarasota-based developer Tony Collins was unable to gather enough investors to redevelop the 112-room Putnam Hotel by a deadline the city set.

In June, the DeLand City Commission voted to invest $500,000 over five years to help Collins redevelop the hotel as an apartment building.

In August, the commissioners extended by 90 days their deadline for Collins to raise sufficient financing from other sources, but he had failed to do so when the extension expired.

The the city’s founder, Henry DeLand, built the original version of the Putnam Hotel at 225 West New York Avenue in DeLand, then sold the hotel to a former owner whose name it bears, Alfred Putnam.

After burning to the ground in 1921,  the current version of the Putnam Hotel was built on the site of the original structure and opened as the first fireproof hotel in Florida. [Daytona Beach News-Journal] — Mike Seemuth


Related Articles

arrow_forward_ios
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
Alta Developers’ Raimundo Onetto in front of the development site (Google Maps)
Heading south: Alta buys dev site for apartment complex near Homestead
Heading south: Alta buys dev site for apartment complex near Homestead
Grant Cardone and a rendering of LAs Olas Walk (Cardone Capital, ZOM/McNeal Realty)
Grant Cardone to buy $750M in SoFla apartments
Grant Cardone to buy $750M in SoFla apartments
The current building on Dania Beach (Google Maps)
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...