Friday, April 28, 2006

 

Timeshare Resort Planned Near CW

A hotel with a prime location near Colonial Williamsburg will be renovated and turned into timeshares as part of a plan to build around 500 timeshares next to the Historic Area.

The Patrick Henry Inn and open land next to the Historic Area would become a timeshare resort in a project planned by a new development company.

Colonial Penniman LLC plans to build 400 timeshares on 18 acres at the corner of Page and Penniman Streets, according to site plans the company submitted to the city this week. The Colonial Capitol Inn, which is on that land, would be replaced by six four-story buildings. The group also plans to renovate the Patrick Henry Inn on York Street, converting the two hotel buildings to timeshare suites. That will add about 90 or 100 more timeshares to the resort, group spokesman Jim Bennett said Thursday.

The project will attract visitors throughout the year who will stay longer than they might if they were in a hotel, Bennett said. The location will be the timeshares' biggest selling point, he said. "You're right across the street from the restored area."

Hotelier Hunter Vermillion will sell the land and hotels to Colonial Penniman, Bennett said. Colonial Penniman is made up of local business owners and real estate developers, he said. The 2- and 3-bedroom timeshares would also have access to a spa, exercise equipment and indoor and outdoor pools.

How soon the timeshares would be built depends on the city's approval process. The land is already zoned for business use, but the Architectural Review Board must OK designs for the timeshares, since the project is near the Historic Area. The Planning Commission is slated to review the plans in June.

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