Shelter Harbor Inn on the Brink of Foreclosure

by San Antonio Attorney

The historic Shelter Harbor Inn is on the brink of foreclosure and is scheduled to go to auction Aug. 25.

The total amount of the 2005 mortgage and how much debt was owed is still uncertain. The second mortgage, starting from the year 2015, costs approximately $100,000.

James T. Dey, the proprietor of the inn and also the company president, has refused to comment on the issue. The inn was still in active operation last Wednesday, but Dey was not available for an interview.

The inn comprises of a 3.4 acre panel with a total of three buildings. The main house, the first building, has a 10-room annex and another carriage house also holds four rooms. The property holds an appraised value of $1.8 million, according to online assessment tax records.

Dey bought the property in the mid-1970’s and renovated the barn into guest rooms and a conference room.

The kitchen was improved and a dining room was constructed to expand the seating capacity of the restaurant. The renovation of second floor and further expand it as a the new dining room was also done by Dey.

Shelter Harbor Inn used to be a farmhouse, which was built in the early 1800s, according to town records. The inn was initially established in 1911, when Franklin Lawson bought the property. The inn was converted into a nursing home in the 1940s but resumed its operations as an inn during the 1950s.

The inn experienced a lot of problems such as water pipe and electrical problems. This reached a peak in February when the cold weather caused frozen pipes to disintegrate.

The auction is set to take place on the inn property and interested bidders should provide an amount of $10,000 in cash or check.

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