2008.09.29
Nesselrod on the New sale off
A deal that would turn Pulaski County bed and breakfast Nesselrod on the New into a 104-unit retirement center is off the table.
Scott Miller, vice president for development with Smith/Packett of Roanoke said Monday that the company would not be purchasing the eight acre property because they could not agree with Nesselrod’s owners on a price.
“We would still like to do something with the site but as of right now it’s off,” Miller said. “The economics of the project do not match up.”
Miller said Smith/Packett would be interested in buying the property in the future, but there are no negotiations in progress currently, and he had not spoken with Nesselrod on the New’s owners in months.
The retirement community was expected to hold 50 independent living apartments, 34 assisted living units and 20 memory care units in one more than 100,000-square-foot building with about 50 staff members. The Pulaski Board of Supervisors had rezoned the land and approved a special-use permit to allow Smith/Packett to build there.
The 69-year-old Nesselrod on the New building and property is still listed for sale. The owners were not available for comment.
