H O T E L L O U I S E The Pride of Washington, NC

H O T E L L O U I S E The Pride of Washington, NC

ABOUT THE CITY Washington, commonly known as the Original Washington, or Little Washington, is a city in Beaufort County, North Carolina, located on the northern bank of the Pamlico River. The city has historical significance in its name. It s the first city in America, to be named after General George Washington. It was established in 1776, on land donated by Col. James Bonner. Current population is estimated to be close to 20, 000. Because of its beautiful location, especially the waterfront, it attracts a sizeable number of tourists every year, with locals from neighboring cities frequenting it quite often. Closest major city is Greenville, which is just 20 miles to the west.. LOCATION The building, Hotel Louise, sits on the finest piece of land in Washington. The rear of the building directly faces the Pamilco River with its beautiful boating marinas and spectacular promenade. While the façade basks in the glory of the old charm vintage look, Main Street, lined with Antique Stores, books shops, restaurants, theatre, bank, and other small businesses. Summer and spring festivals adorn the street with flavor of local culture, music and food. A place to Relax, Enjoy and live Life! Being the tallest building in this small city, the awe-inspiring, grand impressive Waterfront, is what makes this prime piece of real estate most sought after!

PROPERTY Built in the early 1900s, this building was originally a Hotel and the later converted into an apartment building. Constructed with solid brick exterior, it has a basement and 4 floors, comprising of 2 stores and 40 apartment units. The main store is appx. 3000 sq ft, while each apartments have 1 living room, 1 bed room, 1 kitchen and 1 bathroom. High ceilings on each floor, make the units spacious and roomy. Rear of the building faces the serence Tar Pamlico river, with its boating marinas and gorgeous promenade. Over 50% of the building units enjoy scenic water views. Being the tallest building in the town, the roof top offers majestic and breathtaking 360 degrees panoramic views of the beautiful city. Although the building is located by the river, it boasts of having No Flooding in over 1oo years! Recent Structural Inspection carried out certifies the soundness of the building Architectural drawings and plans for re developing into a new hotel will be given to the new buyer. Note: Vacant Building needs extensive work. New HVAC / boilers / elevators reqd. As with most buildings built before 1970, this building contains Asbestos (mainly in basement) & lead paint. Recent Abatement evaluation and quotes available. The building has recently gone through extensively cleans ups and minor restorations both outside and inside. FACTS & FIGURES Bldg Size: 33000 sq ft No. of Unites: 40 Apts + 2 stores Property Type: Multi Family Property Sub Type: Garden/Low Rise Property Use Type: Investment No. of stories: 4 Year Built: Appx. 1900 Lot Size: 13,939 sf Taxes 2015: 4,984.81

Washington City Comprehensive Plan The City is vested in the economic., & social development of Washington and the preservation of its environment and history.. And as such measures have been taken to that effect. The Washington City Council has adopted a long tem Comprehensive Plan towards the economic and social development of the city. It articulates a vision for the community s future and establishes a road map for how that future is achieved. The plan is organized around 10 key themes: Downtown & the Waterfront * Economic Development * Community Appearance * Historic Preservation * Tourism & Eco-tourism * Transportation & Mobility * Public Services & Facilities * Commercial Business Districts * Housing * Neighborhoods. With the cooperation and the support of the City, Hotel Louise stands to benefit greatly. As it is not only on the Waterfront, but a Historical Landmark, as well as in the commercial business district.. Potential Incentive Programs & Grants a) NCDOC Building Reuse Grant b) Golden Leaf Foundation c) NC Rural Center N.C. Loan Participation Program d) d) Beaufort County Committee of 100 e) 20% Federal Tax Credit f) Beaufort County Performance Grant g) City of Washington Performance Grant h) City of Washington Façade Grant i) City of Washington Brownsfield Grant j) Electricities k) Training l) Historic Tax Credit There are plenty of other incentives & grants from the County, the City, and other Government bodies, not listed above.

Proposed Drawings for Renovations

Sample of Proposed Plans available

N O S T A L G I A Circa 1935

OUTSIDE VIEWS, AS SEEN FROM INSIDE BUILDING & ROOF