New SAGA property rented to CSI, Aquarium  

By on January 29, 2022

Tenants currently include a dozen CSI students

The guest house, now owned by SAGA, has 27 rooms.

The Coastal Studies Institute (CSI) finally has student housing thanks to a lease agreement between SAGA Realty and Construction and East Carolina University (ECU).

SAGA purchased the three properties north of Manteo that were formerly owned by the Friends of Elizabeth II, which includes the “guest house” originally built to house the UNC School of the Arts students who, until several years ago, performed at the Roanoke Island Festival Park in the summer. The other two adjoining lots are undeveloped.

The purchase closed in December and leasing immediately began.

Sumit Gupta, the CEO of SAGA, said the company has signed leases with ECU, the Roanoke Island Aquarium and other organizations that had previously leased rooms in the guest house.

“We know there is a severe shortage of such rental options,” said Gupta. “We did not want to displace these renters or negatively impact these organizations. We also hired the previous property manager to continue managing this guest house for us. All in an effort to make this transition as seamless as possible for everyone.”

The guest house has 27 rooms, each with two beds. Two rooms share a bathroom. There also are two efficiency apartments. Washers, dryers, a common kitchen and two common area rooms are available to all guests and there is ample parking with overflow and a big back yard.

ECU, which has oversight of CSI, has a one-year lease for the top floor of the building which includes 16 student rooms and an efficiency for the resident manager to occupy.

CSI Executive Director Reide Corbett, who is dean of the Integrated Coastal Programs, said there are 12 students currently staying at the site.

The building is bordered by US 64/264, Washington Street and Harriot Street. The two undeveloped lots are behind the building site and sandwiched in between US 64/264 and Washington Street.

The one-year lease with ECU is for $145,800 for the 16 rooms and efficiency. CSI will rent the rooms for approximately $3,000 per semester per student, said Corbett.

An official with the Aquarium said he wasn’t certain what the terms or how many rooms were leased for its use. The lease was negotiated and signed with the Aquarium Society, a private nonprofit. A call to the society was not responded to.

Gupta said that the rent on the rooms had not increased in more than a decade, so an increase was necessary.

“We have a few rooms still available for rent and currently reached out to the Chamber [of Commerce] to see if any of our local businesses have such needs,” said Gupta. He said plans for the undeveloped lots tentatively are to build similar buildings for housing.

 

 


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See what people are saying:

  • Linda

    Those lots are Manteo out. Please be careful, County Commissioners, what you allow there. Affordable housing would be wonderful but keep to existing height requirements, etc. so the buildings look like they belong.

    Tuesday, Feb 1 @ 10:46 am