The Red Carpet Inn, which the VCU Health System bought, is being torn down. (Photo by Burl Rolett)
Demolition is in full swing at a rundown interstate motel near the Diamond.
The VCU Health System is wasting no time dismantling the Red Carpet Inn on Sherwood Avenue, which it bought in November to make way for a new storage facility.
The health system paid $1.3 million for the 1.2-are Red Carpet property, including the 17,500-square-foot, 52-year-old motel. The parcel sits across the interstate from VCU’s forthcoming Virginia Treatment Center for Children, a $56 million hospital facility scheduled to break ground this year.
That campus will include a 32-bed psychiatric hospital, an outpatient center and a Richmond public school facility for inpatient residents. The Red Carpet Inn property will hold equipment VCU needs to move from the 4.7-acre VTCC site at 1308 Sherwood Ave.
The motel’s previous owner, SHAAN LLC, lost a franchise agreement for the Sherwood Avenue Red Carpet Inn in 2012 after “many breaches” of a contract with the owners of the Red Carpet brand, according to court records.
SHAAN is controlled by the same group that owns the nearby Economy Inn. That property recently was threatened with foreclosure, and the company entered bankruptcy just days before a scheduled auction.
The Red Carpet Inn, which the VCU Health System bought, is being torn down. (Photo by Burl Rolett)
Demolition is in full swing at a rundown interstate motel near the Diamond.
The VCU Health System is wasting no time dismantling the Red Carpet Inn on Sherwood Avenue, which it bought in November to make way for a new storage facility.
The health system paid $1.3 million for the 1.2-are Red Carpet property, including the 17,500-square-foot, 52-year-old motel. The parcel sits across the interstate from VCU’s forthcoming Virginia Treatment Center for Children, a $56 million hospital facility scheduled to break ground this year.
That campus will include a 32-bed psychiatric hospital, an outpatient center and a Richmond public school facility for inpatient residents. The Red Carpet Inn property will hold equipment VCU needs to move from the 4.7-acre VTCC site at 1308 Sherwood Ave.
The motel’s previous owner, SHAAN LLC, lost a franchise agreement for the Sherwood Avenue Red Carpet Inn in 2012 after “many breaches” of a contract with the owners of the Red Carpet brand, according to court records.
SHAAN is controlled by the same group that owns the nearby Economy Inn. That property recently was threatened with foreclosure, and the company entered bankruptcy just days before a scheduled auction.