VIRGINIA BEACH, Va. (WAVY) - A judge has approved the sale of a well known Virginia Beach landmark.
Judge Jane Roush approved the sale of the Cavalier Hotel to Virginia Beach developer Bruce Thompson Monday, a court clerk in Buckingham County told WAVY.com. The judge also approved a settlement for current shareholders.
Thompson offered to buy the iconic landmark and its sister hotel on Atlantic Avenue for about $35 million.
Beach residents worry Thompson will tear down the property.
"The first time I saw the Cavalier hotel, I fell in love with it. I thought it was the most beautiful thing I've ever seen," said Jennifer Poe, who grew up in Virginia Beach, and plans to have her honeymoon at the hotel.
"I just think it would be a shame to lose that kind of history especially in this area."
Thompson has presented three options for the hotel: restore it as is, restore it and add residential units or tear it down completely to build a time share and hotel for tourists.
"It's been a council stated priority to do everything reasonable to save the Cavalier recognizing it is a landmark for the city," said John Uhrin, the city council member who represents the Oceanfront.
Thompson told WAVY.com he would rather see the property preserved and put on the Virginia Register of Historic Landmarks, but admitted it could cost "tens of millions" and might not be feasible.
The City of Virginia Beach created a task force to help preserve the hotel, offering incentives like tax credits and economic development grants to encourage saving the hotel.
Thompson will make a formal presentation of his plan at a city council meeting Tuesday.
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