Walthall Hotel going on the auction block - MSNewsNow.com - Jackson, MS

Walthall Hotel going on the auction block

Posted: Updated:
The hotel has 100,000 square feet of space with entrances on both Capitol and Pearl Streets The hotel has 100,000 square feet of space with entrances on both Capitol and Pearl Streets
The old hotel has 205 rooms and 200 parking spaces in it's enclosed garage, and is eight stories tall. The old hotel has 205 rooms and 200 parking spaces in it's enclosed garage, and is eight stories tall.
It is a court-appointed auction and will have to be approved by the Hinds County Chancery Court It is a court-appointed auction and will have to be approved by the Hinds County Chancery Court
JACKSON, MS (Mississippi News Now) -

A downtown Jackson fixture since 1928 will soon be auctioned off on the Internet. The Walthall Hotel has been closed since 2010 after a water pipe broke, flooding the lower floors.

The old hotel has 205 rooms and 200 parking spaces in it's enclosed garage, and is eight stories tall.  

The Mississippi Business Journal reports it's appraised value for tax purposes is $3.79 million, but it is actually on the tax rolls valued at just under $570,000. It has been remodeled many times since 1928.  

Benny Taylor of Grenada, an auctioneer, will handle the auction.

We have presently shown the property to several interested groups and each one of them seems to be leaning toward condos and turning it into a hotel/condo unit, much like the King Edward, right down the street," said Taylor. "There is an undisclosed minimum, however, the opening bid will be $1 million."

Taylor adds that the winning bid will need court approval.

"It's be up to the bond holders and the chancery judge to make a decision as to  accept it," said Taylor. "Because it is a court-appointed auction and will have to be approved by the Hinds County Chancery Court."

The hotel has 100,000 square feet of space with entrances on both Capitol and Pearl Streets.

When asked the auctioneer what the old hotel was actually worth, Taylor said, "We will find out May 22 at 11 a.m." 

Copyright 2013 MSNewsNow. All rights reserved.

Powered by WorldNow