After foreclosure, what comes next for East Asheville’s Ramada Inn?
The new owners of the Ramada Inn in East Asheville intend for the property to remain housing for the city’s homeless. The fate of the Ramada was thrown into doubt after developer Shangri-La lost the property to foreclosure in late December, leaving behind legal issues and broken promises.
The former Ramada Inn parcel is deed restricted for permanent supportive housing for the next 50 years. The highest and best use for all stakeholders is believed to be the redevelopment of the former hotel into supportive housing.
It is unclear what the future holds for the Ramada property as the city secured the deed restriction when it transferred its real estate contract to Shangri-La in 2022, which later lost the property in 2023.
Amidst a time of transition for Asheville, there are discussions about the creation of a new board for the Asheville and Buncombe County Continuum of Care and the establishment of a low-barrier shelter.
The community has not lost the opportunity to have permanent supportive housing on the property, but the question remains about who will take on the responsibility of creating and managing the supportive housing project.
The current owners are exploring all options for the Ramada, including potential partnerships with developers or selling the property outright. They are in communication with local nonprofits and City Council to align with the city’s goals.
The property was utilized by the Buncombe County Sheriff’s Department for SWAT training, and discussions continue about the property’s future use.
Three years ago, the property was set to become an emergency shelter before facing delays and complications that led to its current state. Shangri-La’s involvement and subsequent default on the loan added to the uncertainty surrounding the property.
As the city continues to navigate the transitional period for homeless services, decisions on future allocations and projects rest with City Council and the community stakeholders involved.
