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For sale: Nine acres of lakefront property — complete with a hotel and parking garage — in Lake Charles. But you'll have to snap it up quickly. If no one buys it within 180 days, the buildings may…
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For sale: Nine acres of lakefront property — complete with a hotel and parking garage — in Lake Charles. But you’ll have to snap it up quickly. If no one buys it within 180 days, the buildings may be demolished, leaving just the land and a concrete foundation. The City of Lake Charles is marketing the land donated by Pinnacle Entertainment to agents and development companies, The American Press reports. Lori Marinovich, executive director of the Downtown Development Authority, told the newspaper about 200 companies and individuals have information about the property, which has stood fenced and derelict since Hurricane Rita damaged the buildings there in 2005. The city and Pinnacle finalized the donation several weeks ago, and the city has 180 days to market the property. If no deal is reached with a developer, Pinnacle has agreed to demolish the hotel and the parking garage down to the concrete foundation if asked. Offers must include a description of any proposed development, a projected timeline, means of financing and a statement of whether any of the existing structures should be removed. The winning proposal must be no less than the appraised price of the property, and must be approved by the City Council.
