Sale begins new chapter for Hillsborough’s Colonial Inn
A new owner signed the deed Monday to buy the historic Colonial Inn in downtown Hillsborough.
County documents show Allied DevCorp. LLC paid $800,000 – $75,000 less than the list price – for the 10,000-square-foot inn at 153 W. King St.
The company is managed by Justin Fejfar, a principal and co-founder of FDR Engineers in Research Triangle Park. Fejfar has more than 20 years of experience in commercial, industrial and residential building design, according to the company’s website.
Hillsborough attorney Sam Coleman, who handled the deal for the buyers, has said the team includes experts in engineering, architecture, construction, and the restaurant and hospitality industry. They have had the inn under contract since November and plan to revive the building as a boutique hotel with a restaurant, bar and small event space.
They also will seek input from the community about the inn’s future, Coleman said. A rezoning and development application could be submitted to the town by spring at the earliest, he said, and will depend on the complexity of the details.
Hillsborough Mayor Tom Stevens briefly met the buyers when they were considering the deal but said Wednesday he “would be hard-pressed right now to even name which ones I met.”
He’s “very happy” to see them buy the inn, which “is an important landmark, not just historically, but in the life of the town,” Stevens said.
(The Herald Sun, 1/10/18)