The Pinecrest Tribune has learned that the long-standing Howard Johnson Motor Lodge, 10201 S. Dixie Highway at the entrance to the Palmetto Expressway, is under contract for sale and the potential buyers plan an upscale residential project.

Howard Johnson Motor Lodge property on S. Dixie Highway is under contract for sale.

Representatives for the buyer, Westway Ltd., and the seller, Palmetto Holdings Corp., emphasized that nothing has been finalized on the sale, although the intent to proceed was expressed by both parties.   

“We’re still in the due diligence process,” said Michael Christopher, real estate broker for the Richard Brandon Co. representing Westway Ltd.

“We’re studying various options as far as design and concept, and it could go in several different directions. It’s just not at the point where we can talk about what the final direction is going to be as far as product and pricing.”

Christopher declined to reveal the principals in Westway. However, he did confirm that a residential project of some type would be developed on the property if the sale were final and that a townhome concept was one of the options under consideration.

Neither the buyer nor the seller would reveal the pending sale price for the three-acre tract, which is zoned for hotels and apartments. Under its present zoning, as many as 60 units could be built on the property. Sources said that a townhome project with units in the range of $200,000 each was being considered for the tract.

The existing 50-unit Howard Johnson Motor Lodge was built in 1961 by the Miami-based Palmetto Holdings, which has owned the property continuously for 38 years.

The Denny’s Restaurant that fronts the Howard Johnson property is not a part of the land sale deal.