Residents affected as Hotel Concord shuts down - WCNC
CONCORD, N.C. -- You've got a month-and-a-half to move out.
That's the notice about 50 Hotel Concord residents got from the building owners, who say the residential part of the hotel has been losing money for years.
Residents say the notice couldn't come at a worse time because some can't afford to move and others say they won't be able to find comparable rent.
Around town, Hotel Concord is as much a local landmark as anything.
"This place is an institution," said resident Dave Hinson. "You go to the Concord hotel and turn right."
That's how directions often start. He would know. Hinson has lived in the hotel for five years.
Back in the day, the hotel hosted his high school prom.
"We just anticipated it was 'the' Concord hotel," he said.
Time, tradition and character made it untouchable until a letter came, saying the 50 or so folks who live here have until the end of October to move out.
"I never thought it would happen," Hinson said.
The Union Street Corporation owns the hotel and in a letter to residents says the residential portion has been losing money for years and the cost of utilities, maintenance and insurance has risen faster than the income.
"I did not see it coming," said front desk clerk and resident Joey Estes. "The thing that Concord is losing is one of the most affordable places to live."
One concern residents have is finding a new place for the same price they pay at the Hotel Concord.
That's not easy. Rent at the hotel is $375 to $450 per month.
"People that can't afford anything can afford this," Estes said.
Estes now plans to room with Hinson at a mobile home park to share costs.
Hotel owners are helping residents figure out where to live, even giving them $100 in appreciation money for living at the hotel.
But it's not going to be enough for Faye Yearick. Every last dollar has been saved for knee surgery.
"We can't even afford to make it work," Yearick said.
Hotel owners plan to look at future uses of the residential part of the hotel and say it's possible it could re-open.
The main floor of the hotel where events are held will remain open.
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