A group that plans to convert the historic Maclellan Building into a boutique hotel has finally closed on the property.
Kevin C. Boehm of the Raines Group, Inc represented Maclellan Partners LLC in the purchase of the Maclellan Building at 721 Broad St.
The purchase price was $3,850,000.
Mr. Boehm said the plan is still for the building to be converted into a boutique hotel.
Russ Elliott of Luken Holdings represented the seller.
Closing was on Aug. 28.
The Indigo hotel group had announced its plans for the Maclellan Building in July of last year.
Officials at the time said they would use a nearby six-story office building owned by the city at 730 Chestnut St. for parking.
The 12-story Maclellan Building, which was built in 1924 as the headquarters for the Provident insurance firm, is now owned by local businessman Henry Luken.
The city obtained 730 Chestnut in 2005 in a swap with BlueCross for the property where an old fire hall stood as well as an additional six acres on Cameron Hill. BlueCross workers are still in the building, but are due to vacate the property. The building is directly across from the Mountain City Club.
Indigo bills itself as being different from other hotels as "an oasis where you can escape the hectic pace of travel and think more clearly, work more productively, rest more refreshingly. An environment that doesn’t just shelter you, but inspires and re-energizes you. That’s the idea behind Hotel Indigo. It’s about peace. A hotel whose unique design brings together math, art and nature in perfect symmetry, to give you a perfect sense of balance and well-being."
Indigo, which is part of the InterContinental Hotels Group, opened its first "hip, cool, lifestyle" unit in Midtown Atlanta in 2004.
Provident in 1924 moved its headquarters from the James Building to the building designed by R.H. Hunt. The first three stories of the building are in the Greek Ionic style, and the nine-story tower is capped with a sloping mansard roof finished in green tile.
The brick building at 730 Chestnut is a former furniture building that BlueCross acquired out of bankruptcy.