A few weeks ago we posted about two projects in which we had the opportunity to provide appraisal services for Mountain Housing Opportunities (MHO) in Asheville, the first of which was the Eagle Market Place Project. The second project we provided services for was the Glen Rock Hotel renovation, a renovation which will revive a century-old building with a varied past, the story of which can be seen at glenrockdepot.com. The finding of the files which record the history of the surrounding neighborhood by an MHO intern is a story in its own right, and can be viewed at ww2.unca.edu. The renovation of the Hotel is part of a larger development called the Glen Rock Depot, which includes three mixed-use buildings used for residential and commercial space. Two buildings in the Glen Rock Depot are currently occupied by tenants and operating, and were doing so already when we were engaged to appraise the ‘as is’ and the ‘as proposed’ value of the ground level commercial space of the Glen Rock Hotel. Like the other Depot buildings (as well as Eagle Market Place), it will provide commercial space on the ground level and affordable apartments on the upper floors. This renovated building, originally used to provide rooms for passengers coming to Asheville via the Southern Railway Depot station, will hopefully assist in the economic revitalization occurring in the River District.
*Explicit permission was given by client to post about this project.