With the sale, Treyball abandons its initial plans to build a hotel and retail complex on the site. According to published reports, it acquired the land for just over $3 million five years ago. It was once home to NewMarket, an assemblage of small shops and restaurants dating back to the 1970s, which once briefly included a cabaret owned by another local-area celebrity, singer Patti LaBelle. The NewMarket structures have since been demolished.
When the hotel market softened, following Sep. 11, 2001, plans for the hotel, including an initial commitment from Starwood Hotels' W brand to operate it, fell apart. Treyball owns several small properties here, including a funeral home and furniture showroom. Its plan to construct a recording studio near South Street has also failed to reach fruition.
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