General Wayne Inn sold to developer
- By Mary Blakinger
INQUIRER SUBURBAN STAFF, 29 Nov 00
Metro Development Co. in Philadelphia, headed by commercial developer Michael
Grasso, bought the Main Line's historic General Wayne Inn, its contents and
its liquor license this afternoon following a nearly four-hour auction.
The 291-year-old inn is well know in Lower Merion and the aera as a colonial
meeting place and, more recently, crime scene.
Local preservationists expressed relief that the inn and its many
furnishings, many of them reflecting the area's colonial history, will remain
David Grasso, Michael Grasso's son, said the building could be used once
again as a restaurant or for offices.
The final undisclosed purchase price was hammered out between the Metro
Development and the sellers, who had the option to reject the high bid for
the entire property, in private negotiations that came after Grasso had
entered the highest public bid of $700,000 this morning.
Four years ago, the inn's then co-owner, James Webb, was shot and killed in
his office. Prosecutors last month charged his business partner, Guy Sileo,
with the crime.