EDA in Focus
EDA announces that the Afton Inn sale has been finalized
The Economic Development Authority (EDA) and Town of Front Royal issued the following joint press release today, February 19, 2021:
On Friday, February 12, the Economic Development Authority (EDA) Board of Directors passed a resolution accepting a final sales price from developers 2 East Main, LLC of $325,000 for the purchase of the Afton Inn located in Front Royal’s downtown. The Board is pleased to announce that the settlement has taken place and the building has been sold!
This transaction came to fruition with the cooperation among the Town Council of Front Royal, Warren County Board of Supervisors, EDA, and the developer. The Board is grateful for the willingness of Town Council, and Warren County Board of Supervisors to focus on a goal that resulted in a “win” for everyone. EDA board members Greg Harold and Jeff Browne, plus EDA Legal Counsel Sharon Pandak, of Greehan, Taves, and Pandak worked hard to make this sale happen. The developers, Jim Burton and Alan Omar, had an unwavering commitment to the vision for this property.
“This is a privately funded transaction. It won’t cost County or Town taxpayers anything to transform the Afton Inn into a welcoming anchor building for visitors to Main Street,” said Jeff Browne, EDA’s chair.
Front Royal Mayor Chris Holloway welcomed the news of the sale. “On behalf of Council, I am proud to share in the celebration of the sale of Afton Inn and look forward to partnering with the developer to remove any barriers to restore and modernize this building expeditiously. The sale of Afton Inn marks an important milestone for our community as we continue to focus on redevelopment,” said Holloway.
(The EDA Board of Directors will have their regular February monthly board meeting via Zoom on Friday, February 26, 2021, at 8 a.m.)
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