REDDING, Calif. – Local business leaders are applauding the sale of a long-time trouble spot in downtown Redding.
The Chamber of Commerce said the former Redding Inn was purchased by Kirkorian Development for $775,000. The 63-room motel located on Pine Street, has been vacant for years and ownership was tied up in litigation.
Chamber officials said it’s long been considered a blight on the area because of criminal activity when it was in business and more recently, squatters.
In 2017, the previous owners sold the property but ultimately ended up suing the buyers alleging the contract was not valid since the buyers misrepresented their identity. Since then, the property has been lined with temporary fencing and the windows and doors boarded up while the parties attempted to resolve the issue with the Shasta County Superior Court.
Given the location of the motel and the growing demand downtown, Joshua Johnson of Venture Properties reached out to Aaron Moore, the attorney representing the sellers, to determine if there would be value in obtaining offers for the property.
“As a Redding resident, I drive by that property almost daily and worked with the other parties to find a way to remove the blight as well as capitalize on the demand for downtown real estate,” Moore said in a press release. “Everyone was receptive to the idea and we were able to come to an agreement to sell the property while we continue to litigate the underlying issues.”
Once the stakeholders agreed to list and sell the property last fall and the court-appointed a receiver to oversee the transaction, they formally hired Venture Properties as the listing broker, which was represented by local real estate agent Joshua Johnson.
The new owners have not yet revealed their plans for the property but it is expected to add to the forward progress of development in downtown Redding.