Report: Problems Being Resolved With West Hotel Project
After sitting idle for months amid financial difficulties, the West Hotel project on North 1st Street could see construction workers returning this summer, according to a report in Twin Cities Business.
The project, which would bring an upscale hotel along with new dining and drinking spots to the North Loop–not to mention the restoration of four historic buildings–came to a halt last summer.
As detailed in the TCB report, the developers faced unexpected construction challenges and delays as they worked to build the new hotel around the historic structures. (You’ll remember how they had to lift and move one of them around the block temporarily so they could build underground parking).
Then came issues with a lender this past summer that caused the developers to suspend construction and try to line up new financing as interest rates were climbing.
According to the TCB report, the developers have resolved their issues with that particular lender and are now working to finalize a new construction loan to finish the remaining 35% of the project.
The project would then be on course to be completed in mid-2025.
By Mike Binkley, North Loop volunteer