Alexander, Merry-Ship Sail Again in Fayetteville
by March 20, 2000 12:00 am 335 views
North College Development Co., the Fayetteville company owned by Richard Alexander and Rob Merry-Ship, bought the two-story, 2,600-SF residence at 5 West Ave. in Fayetteville. First Federal Savings & Loan in Fayetteville loaned the partners $220,000 on Jan. 18 for the purchase.
The partners’ plan is to keep the property, which is adjacent to their offices at The Cooper House, residential. The purchase gives North College Development 7,000 SF of mixed-used inventory between Cooper House I, Cooper House II and the new building all near West Avenue’s intersection with Center Street.
Alexander and Merry-Ship will refurbish the property, which sits on a 13,000-SF parcel. They’re also considering adding a townhome complex on the 5 West Ave. site sometime in the future.