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Fallen Charlotte lawmaker honored with section of I-75 Affordable housing in the historic Town of Erie and Vertikal

The crisis-ridden former Wyndham Garden Lafayette hotel, which was supposed to be converted into apartments but has stood empty for years, is now for sale.

The building’s owner, Los Angeles-based commercial real estate lender iBorrow, listed the 13,000-square-foot, 290-room building at 1801 Pinhook Road for $7.5 million last month, records show.

The building was to be converted into multi-family housing after iBorrow acquired it from the local owner. Work on the building had started but was stopped some time ago.

The project’s affiliate, Nashville, Tennessee-based LK Asset Advisors, filed a lien on the $7.7 million project last year for nearly $175,000 in unpaid services, equipment and labor, court records show.

The building last made headlines in 2021 when iBorrow evicted the owners of the ground-floor nightclub Scandals, just two years into a five-year lease signed by the hotel’s previous owner.

According to the documents, both parties agreed to terminate the lease that same year.

iBorrow announced months later that it planned to convert the hotel into apartments and open in September 2022. It would be renamed “Highland Village” and feature a restaurant, resort-style pool and garden.

According to the listing, the building is now owned by a bank and there is preliminary interest from three hotel franchisees if the buyer would reopen it as a hotel.