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City Finalizes Sale of Historic Vance Hotel
Posted on 08/03/2022
At the May 16, 2022 meeting, City Council approved an amended Master Development Agreement, and the ultimate sale of the Historic Vance Hotel to the Ranier Group. Ranier, represented by Stephen Barker, plans to renovate the building back to a boutique hotel and build a parking deck behind the building. The final steps were taken to finalize the sale yesterday.

“This is a great day for all of Statesville!” Mayor Costi Kutteh stated. “We have been working extremely hard to find the right team to restore the Vance Hotel to its prior glory. We are confident that Steve Barker and the Ranier Group are the perfect match. Steve has already spent countless hours and many dollars to get to this point and will immediately rebuild the roof. We look forward to watching the progress at the hotel.”

The Vance Hotel was built in 1922 by Columbus Vance Henkel and a group of local investors. It was purchased by the City of Statesville in 2012 from the estate of Thomas Wilson, with the chief focus to provide additional Civic Center parking.