The Washington County Commissioners approved a rezoning Feb. 10 for a new motel and fast-food/convenience store on Sharpsburg Pike.
Hagerstown developer Stephen B. Sagi wants to develop the two-acre property at the intersection of Col. Henry K. Douglas Drive opposite Wendy's with a new 120-room Sleep Inn motel, a fast-food/convenience store and a restaurant, according to planning documents filed by Sharpsburg Pike LLC.
The commissioners rezoned the property to Highway Interchange 1, a commercial zone, from Highway Interchange 2, a residential zone.
Sleep Inn is a fast-growing budget chain in the Choice Hotels lodging empire. Sleep Inns offer a satisfaction guarantee and have room rates in the $40 to $60 range, according to the company.
Sagi, owner of Valley Properties Inc., Georgie's Subs and Pizza and Landon Exports, struggled financially when recession hit in 1989 after borrowing $22 million from Home Federal and Hagerstown Trust to build a real estate empire in the 1980s. The banks and other creditors then foreclosed on millions of dollars of his property. Some of the foreclosed property was later purchased by his wife, Iris.