Another Atlanta landmark is in financial hot water… and it could mean a big blow to Atlanta’s alternative music scene.
The Clermont Motor Hotel on Ponce de Leon is a study in local economics. The 85-year old hotel has been on the market for quite awhile, but there haven’t been any takers.
Now, the New York company that holds the mortgage, Fairway Capital, is set to foreclose July 2nd.
The Clermont Hotel is also home to the iconic Clermont Lounge, where the woman answering the phone didn’t seem concerned.
“We’re optimistic about this,” she says. “We think everything is going to work out fine.”
Built in 1924, the Clermont has survived the Great Depression, urban gentrification and the latest in music trends.
A lawyer for Fairway Corporation says it’s still early in the game. He thinks some sort of deal might soon be reached to save the Clermont… but he says, it’s too early to tell.
source by Jon Lewis
Note: The Clermont Lounge is a club in the back, bottom of The Clermont Hotel.
Chuck Jeffress at 11:58pm June 24
JUST SO EVERYONE GETS IT… THE CLERMONT LOUNGE IS NOT, I REPEAT NOT CLOSING! As an employee of said establishment, I know these things…