Velvet Cloak going condo?

[Beth Y]

I have been driving by the Velvet Cloak lately and seen their sign that says "Condo's, $60,000, Call ....for info" So, are they selling the hotel rooms as cheap condos? Do they have more than a bed and bath? Who knows more about this?

[RaleighRob]

According to their website (thevelvetcloak.com) they still have an Inn, but apparently have converted some of the property to condos or "villas". I do seem to remember last time I drove by seeing a gate over one of the parking lots.

I think I saw some selling on the MLS as one and two bedroom units....some as high as $375k.

Sounds similar to what they've done to that old hotel that's now being sold as the "Duke Studio Condos" in downtown Durham.

[Bull City Rising]

Sounds similar to what they've done to that old hotel that's now being sold as the "Duke Studio Condos" in downtown Durham.