New condo hotel in Orange Beach. As a condo/hotel, and because the property is in the “Katrina Go Zone,” it qualifies for acceleration deprecation tax write-off to qualified investors and buyers the very first year of operation.
Description : New condominiums/hotel in Orange Beach. The depreciation can be carried forward or backward, so if you have paid taxes in the past or anticipate paying taxes in the future there will be a tax write off equal to 50% of the purchase price of the condo unit. Located at one of the busiest intersections on the Alabama Gulf Coast, Canal Road and Highway 161, Canal Place Suites Hotel in Orange Beach, Alabama, will be sold as a condominium and operated as a hotel. This five floor, 104-suite development, offers a water view and public access to Wolf Bay. It’s an ideal location for a condo hotel that will fill a niche in our market for short-term vacationers and weekend holiday travelers. Canal Place Suites Hotel will have five floors with a total of 104 condo hotel units, one and two-bedroom. They will range in size from 583 sq. ft. to 835 sq. ft. We will be breaking ground in the near future. The Senate Hospitality Group has been chosen to manage the hotel. Amenities: Proposed suite features: • one and two-bedroom floor plans • over 9’ ceiling height • private balcony • ceramic tile in kitchen, entry, baths and laundry • kitchen includes granite counter tops, range, two-compartment sink, disposal, and refrigerator with ice dispenser Complex amenities will include: • indoor and outdoor pool • exterior pool deck with gazebo, trellises and grill area • exercise room, steam bath and sauna • grand lobby with social area