A notice of default has been filed against CAI Investments by Court Street Ventures LLC for the parcels 0 Court Street, 219 Court Street, 223 Court Street, 0 Island Avenue and 260 Island Avenue, or put another way, the property the Kimpton was going to be built on. The default is for a $11,325,000 loan. I'm guessing this is a nail in the coffin for the Kimpton, which held its 'groundbreaking' May 13, 2022.
Here's a link to the notice of default
According to the Notice of Default, payments ceased on December 15, 2023.
I wouldn't be surprised if the developer at this point would officially comment something like 'this is just a formality' much like the bankruptcy of Reno City Center, but I grow more and more skeptical as the days pass by with that project AND the Kimpton.