How the property changed hands over past decades
The historic Hotel Putnam, pictured here in 2017, has continued to deteriorate over the years. At 100 years old, the building is believed to be beyond repair, and an engineer recommended at the end of 2022 that it be demolished.

The historic Hotel Putnam, pictured here in 2017, has continued to deteriorate over the years. At 100 years old, the building is believed to be beyond repair, and an engineer recommended at the end of 2022 that it be demolished.

DELAND — The historic Hotel Putnam has seen a lot in its 100 years at 225 W. New York Ave. in downtown.

Demolition began on Feb. 13, about six weeks after a structural engineer recommended it be torn down because of the level of deterioration.

Here’s a look at what happened just within the past 10-plus years:

2012: Apartments no more

Owner Jayne Rocco receives notice from the bank that it would begin collecting “all rents and profits” due to her falling behind on mortgage payments.

The last of the remaining tenants were evicted from the Putnam, which had been serving as a 60-unit apartment building, the previous year as many had stopped paying their rent, which led to Rocco falling behind on the mortgage.

The two clubs on the first floor, JR’s Saloon and Club Envy, also closed around this time.

moving out:The Hotel Putnam’s final days as an apartment building in downtown DeLand

2013: New owner from New York City

The Hotel Putnam was purchased from Occor Inc., owned by Rocco, for $902,800, by Soly Halabi with Venture Capital Properties in New York City, according to property records.

Halabi said he and his silent partner in the venture wanted to restore the property for operation as a hotel or possibly apartments.

‘Move quickly’:The new owner talks about intentions for the Putnam Hotel project

2014: Plans for Putnam ‘on hold’

A year into owning the Putnam, Halabi says the plans he and his silent partner have for the building are “on hold for the time being.”

He also said they wouldn’t knock the aging building down.

“There’s too much history with the building,” Halabi said that July.

2015: Sold again

A Daytona Beach-based development company purchases the Putnam for $450,000, according to property records.

Summit Hospitality Management Group declined to comment at that time on the plans for the vacant building.

2016: Hotel Putnam ‘available’

A for-sale sign is posted at the front of the property, just west of the intersection of West New York and Florida avenues.

The listed agent, Scott Garrett with the Orlando-based Boss Commercial Real Estate, said the asking price was $999,999.

Summit Hospitality’s vice president of operations said that September that the company was actually hoping to keep the acquisition and find a possible partner in the project.

2017: New proposal from new developer

Sarasota-based Tony Collins, who was under contract to buy the Putnam, proposes a plan to the City Commission in April that would see the city contribute $750,000 in cash over five years.

Additionally, Collins sought a change to the city’s code that would amount to a tax exemption of $600,000 to $700,000 over 10 years. Collins pitched using the Putnam for “high-end” apartments with a museum space on the first floor.

The commission voted that June to invest $500,000 from the general fund over five years.

By the year’s end, the agreement expired as Collins failed to obtain the necessary financing.

expired:The agreement between the developer and DeLand on Hotel Putnam failed to come to fruition

2018: Orlando-based developer enters the picture; a fire breaks out

Mohamed Rashad via his company, Big Bubba Investments, LLC, purchases the Putnam for $1 million.

Not long after making the purchase with plans to turn it into a multi-family project, DeLand firefighters responded to the property after a blaze was spotted.

Future after fire?:Prospects for DeLand’s historic Hotel Putnam uncertain after blaze

The investigation into the “set-fire” was closed six months later, no suspects were identified.

It was common knowledge that trespassers entered the property and/or the actual building now and then.

2021: Utah-based developer brings hope

Axia Partners bought the Putnam Hotel from Rashad for $2.3 million in November.

DeLand City Manager Michael Pleus said he and others familiar with the property’s history were feeling as hopeful as Axia had experience with major redevelopments.

This article originally appeared on The Daytona Beach News-Journal: Downtown DeLand’s historic Hotel Putnam: How the property changed hands