Foreclosure for Clermont Hotel?

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.

Blondie

“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…

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One thought on “Foreclosure for Clermont Hotel?

  1. The real shame in closing the Clermont Moter Hotel is timing. I hope our new Mayor will intervene and give them a stay of execution until spring. Putting people out on the streets in mid winter around Christmas time is not very nice. Many of these tenants will become homeless living on the streets adding to a growing number of homeless in Atlanta. The hotel has its problems but being put out and ending up sleeping in a freezing doorway possibly freezing to death I think I would rather be in the hotel. Please have the residents go to a computer and enter you feelings on this. the battle cry should be *PRAY FOR A STAY* GEORGE

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