If you follow our monthly construction video updates, which you can see at the bottom of this video, you would know that there is a ton of work taking place at the Lu Fran Motel.
The Lu Fran Motel, which is located at 5106 Ocean Ave in Wildwood, was sold a few weeks ago for the tune of $2,550,000.
This off-season we have been seeing a ton of motels getting a transformation. The Singapore Motel and the Mark I, both which have changed names, are condos. (Which can still be purchased for the most part).
For a while not too many people knew what was going on with the Lu Fan Motel when it sold. The rumor was that the motel was going to be torn down.
What spread this rumor was seeing their famous neon sign put up for sale on eBay for $5,000.
If you want to learn more about that listing click the link below.
The good news is that the sign has been purchased by the Wildwoods Historical Society and will be stored with them until funds are raised to restore. Those costs are in the $10,000 range.
Just yesterday we were able to obtain documents showing that the motel will not be torn down but instead turned into condotel.
A condotel is an adaptive reuse plan that takes the current building and renovates it completely but in the shape of the motel. Once renovated the units are sold off and an HOA is created.
An easier way to remember it is that it’s a Motel gone Condo….Condo-tel.
The plans call for the 24 until motel to be converted into 26 units. Where are those two extra units coming from? They are converting the office and another space into a unit.
Work is well underway and you can check out their progress in the Wildwood Construction video update below.
