An offer on the rundown Twin Arch Motel at 521 N. College Ave. in Fayetteville has been accepted.
The potential buyer? Fayetteville developer Mark Zweig, who tells us he’s now trying to figure out what, if anything, he’ll do with the 12-unit, 1950s hotel.
Zweig said one idea he is studying is turning the property into furnished apartments.
“I can’t be in the motel business with that few units,” he said.
Zweig will be discussing some ideas with city planners in the coming weeks.
The hotel was bought for $105,000 in July 2012 by Thomas Harding and Garrison Roddey through their Community Development Partners LLC.
Zweig wouldn’t disclose the value of his offer, but the property was listed by Jordan Jeter with Flake and Kelley Commercial Northwest of Springdale... [ MORE ]