The Sonesta Extended Stay Hotel in southwest Charlotte was sold to a New York-based nonprofit on Feb. 12 and is reportedly earmarked to become housing for veterans.

Marcus & Millichap announced it had brokered the sale, representing the private seller. The announcement declined to name the buyer, but Mecklenburg County records lists the Stephen Siller Tunnel to Towers Foundation as the owner.

The 75K SF property sits on 3.39 acres at 7925 Forest Pine Drive off Interstate 77.

WSOC-TV reported last October that the Staten Island-based Tunnel to Towers Foundation was looking to purchase and renovate the hotel site into 117 apartment units for veterans.

The foundation states it offers several programs to assist military veterans and former first responders, including constructing smart homes for those who have been injured, providing mortgage-free homes to families with young children who have lost a parent in the line of duty, and working to end homelessness among the veteran community.

The foundation pulled in revenue of $559M in 2024 with expenses at $381M, according to the organization’s 2024 IRS 990 form, published by ProPublica. Its total assets were $653M at the end of that year.

In mid-2024, the foundation was tied to a post-bankruptcy filing of former New York City Mayor Rudy Giuliani. Giuliani’s lawyers disclosed that he was receiving just over $16K a month in income from his internet show and that the money was coming “mainly” from the nonprofit, according to a New York Times report.

Creditors sought subpoenas to further understand the nature of the financial agreement between the politician and the charity, Law & Crime reported.

The foundation did not respond to multiple requests for comment for this story. 

The San Antonio Housing Trust is looking for a partner to expand its affordable housing program. The plan is to construct three separate communities in the Vida community on the town’s southside with the goal of building 530 units. The first phase will feature 90 senior housing units.

The San Antonio Business Journal reports San Antonio-based architectural firm Lake Flato is handling the master planning phase. No choices have been made for the developer or architect of record. An RFP process will get underway before the first of the new year.

20% of senior housing units will be considered affordable, targeting residents making 30% of San Antonio’s area median income. It’s expected to qualify for the 9% housing tax credit program.

Phase 2 is anticipated to begin in 2026, with the third phase a few years after that.

The Housing Trust finalized the $3.5 million purchase of the 20-acre site for the project in December 2023, funding it with a $2.2 million loan from Frost Bank and approximately $1.3 million in equity.

It’s bound to create a stir. With a per-square-foot listing price of more than $4,200, the sale of the Lucky Bastard Saloon property might set a new record. Besides being home to Lucky Bastard Saloon, the building is adjacent to Tootsies Lounge, The Stage on Broadway and Dierks Bentley’s Whiskey Row. The property is on the market for $66.5 million.

Deville Corp. owns the 15,608-square-foot retail building. It bought the property in 2005 for $2.35 million.

The Nashville Business Journal reports real estate on the entertainment strip is in high demand as tourism continues to surge, with properties typically selling for thousands of dollars per square foot.

The Ernest Tubb Record Shop, at 417 Broadway, sold for about $2,000 per square foot in August 2022, and 400 Broadway, home to Dierks Bentley’s Whiskey Row, sold for around $2,400 per square foot in May 2022.

Glen Kunofsky and Christopher Urban, of New York-based NNN Pro Group, are marketing the building.