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Executive Inn - More Than a Paint Job
I've been noticing what's happening at the Executive Inn for a while but brushed it off as a simple paint job or exterior rehab. I mentioned it on my Facebook fan page, but never made a big deal. Well I stand corrected!
If you notice in the pictures below I took with my phone (so excuse the poor quality lol), this goes beyond a simple rehab. All of the exterior walls of the building are gone, leaving the bones, and upon peering inside what used to be weekly motel rooms, it's totally gutted.
So what's going on? I am not an expert, but I know some of my readers are...this goes beyond a 'keep-building-up-to-code' rehab yeah? I haven't seen any building code changes come through the planning commission pipeline, though I could have easily missed something. Is it going to be remodeled into more glamorous weeklies? Perhaps as a decent extended stay suite hotel, ala Hyatt Sommerfield style? Both of those 'probably' wouldn't require planning commission approval, however if it were being converted to apartments or condos, I believe that would require planning commission approval especially for a building this size.
Back in 2002 I had a down-and-out friend who had lost his construction job stay here for a few months before he found more permanent housing, and the place, while it was a weekly, did have a functioning rooftop pool and hot tub and a very nice rooftop deck that would be comparable to the Residences at Riverwalk.
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Combined with in-building garage parking, a drive-in valet area and lobby, a central location, this property has all the elements to be successful as something other than weeklies. It seems like a lot of work and rehab simply to keep it a weekly motel. So.... Anyone have any clues?
Comments:
Post your commentsPosted by: Pat F - 5/31/2010 11:55:37 AM
Hi Downtown Dude. I can't share a lot with you on this project but when the scaffolding went up I asked a hard hat guy there that seemed to be a supervisor about it. He said it would be a total renovation inside and out and would take about a year. All I know but glad to see folks putting up money for rennovation
Posted by: Brian - 6/9/2010 9:33:01 PM
Hey Mike- I was proud to be involved in the sale of this asset as well as the conceptual design of the mixed-use project that it is turning into. Specifially, retail, office, and multifamily, which is right in line with what is a successful model for downtown urban infill redevelopment. It's a great ownership with construction and development experience, and it will be a wonderful project ready for a wide mix of progressive tenants upon completion.