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Morganton council declares 112 West Union surplus, accepts $425,000 offer from Cranford Hospitality
Summary
Council approved declaring 112 West Union Street surplus and accepted Cranford Hospitality’s $425,000 offer with $25,000 earnest money, subject to the statutory upset‑bid process; closing targeted Dec. 2025 and renovations to start by Jan. 31, 2026.
The Morganton City Council voted to declare city‑owned property at 112 West Union Street surplus and accept an offer from Cranford Hospitality to purchase and upfit the building as a restaurant.
City Manager Sally Sandy said the city solicited proposals and that Cranford Hospitality’s bid best matched the city’s goal of creating a downtown economic driver. "The proposal timelines in the resolution before you include closing on this property by December 2025 and beginning renovations by 01/31/2026," she said.
Sandy told the council the sale price is $425,000 with a $25,000 earnest money deposit; the development agreement would include a timeline and a buyback option for the city if milestones are missed. She noted the sale is subject to the statutory upset‑bid process used to dispose of public property and described the minimum conditions for an upset bid.
Council moved and seconded the resolution and approved it by voice vote. The resolution directs staff to advertise the sale and begin the 10‑day upset‑bid period required under the relevant statute before finalizing any development agreement.
