HAGERSTOWN, MD - It was once called the Alexander Hotel, and the premier hotel of downtown Hagerstown.
Today, it's home to tenants like our station, WHAG. Also home to nearly 100 Section 8 Subsidized Housing residents.
Now the Board President of the Alexander House, Michael Gardner, says another change is on the way.
"We now have a sales agreement signed," says Gardner, "it doesn't mean that it's sold yet. We have not settled. There's still a lot of due diligence that has to be done."
The man behind the sale is James Carmichael. Gardner tells us he buys subsidized housing properties like the Alexander House for a living.
All residents have been notified of this upcoming sale.
"They will continue to have their same apartment that they're renting now under the new ownership," says Gardner. "It will remain in the HUD Section 8 program with no impact on their rents."
The Alexander House used to be referred to as the grand hotel, and that's exactly what it was starting in the year 1929.
Since then, the building has been used for a number of purposes. For several years it was used as subsidized housing for the elderly.
Gardner says the new owner would like to transition it back for that use.
"It's a win for Hagerstown because this property is about to be improved physically, and it's a win for our residents because they're going to get improvements in their property that we haven't been able to afford," says Gardner.
Gardner says there isn't a final sale date, but he says it should be finalized before the end of the year.