No buyer yet for Columbia Gorge Hotel

14 May

So, what’s up with the Columbia Gorge Hotel? Well you might ask — it’s the topic on everyone’s tongues.

I heard a report this morning on its status at the Visitors Council meeting. And it wasn’t reassuring, since the old dame kicks out a nice chunk of transient room tax for tourism promotion.

So, to get the straight skinny, I called the folks who are handling things in the interim. They didn’t want to be quoted, by name, but did tell me that it’s being shown regularly to potential buyers, that some of those poking around have fat wallets and familiar names, that there is no offer pending, and that there is a listing in today’s paper. Which paper? The one that includes three legal listings on Page B7 of the paper dated May 13.

Here’s the deal. The property is still listed for sale with Crystal Investment Property of Portland. The trustee, ShoreBank Pacific, plans to sell the property at auction on 10 a.m. June 30, 2009, at the Hood River County Courthouse. The property isn’t named in the legal listings. It’s identified simply as “The Real Property … commonly known as 4000 Westcliff Dr., Hood River, OR 97031.”

The Columbia Gorge Hotel is located at 4000 Westcliff Drive.

The bank wants to cover debt of $4,252,492 plus $74,557.57 in interest through Jan. 16, plus an additional $1,571.05 in interest per day since then, plus late charges of $5,480.50, and late charges since February at 5% of each payment due from February onward, plus $131,535.72 in overdraft advances, plus a bunch of other moolah.

In other words, if you’ve got a spare $4,604,714.10 lying around, you can buy yourself a classic old hotel overlooking the Columbia River and the Hatchery. And then figure out what to do with it.

I’ve got the dime, if anyone wants to partner up. You’ll find me at the hatchery.

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4 Responses to “No buyer yet for Columbia Gorge Hotel”

  1. Bill Kline May 14, 2009 at 10:29 pm #

    Hi Stu

    I had thought the bank would open for summer with existing staff until sold. Any truth to that?

    it was nice making contact with you at the port meeting

    bill

    • stuwatson May 14, 2009 at 11:15 pm #

      Lots of rumors on the street. I’ve got no confirmation of that, only what I relayed in the earlier post. As soon as I hear anything, I’ll update.

  2. steve schneider May 15, 2009 at 6:19 am #

    Well, the bank is spending money maintaining the grounds which are still spectacular. I assume they are also keeping the interior in similar condition so it “shows” well. I’ve got a new propsed use for the site: it might make a great launching point for base jumpers and especially the ones that wear those flying squirrel suits. Just imagine the “lift” they could generate on good est or nw wind days!

    • stuwatson May 15, 2009 at 5:54 pm #

      I LOVE that thought — the base jumping part. Not sure how you’d collect the jumpers once they hit bottom. If I recall, it’s pretty wild down there, except for train tracks. Wonder what the railroad people would think of people walking back to town with an armful of parachute? Still, cool idea. Turn the place into an adventure base camp. Woo-hoo — hey, zipline to the Hatchery. Incoming … with gear!

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