Quote:
Originally Posted by KevinFromTexas
Actually the hotel had been in the process of being renovated as early as the first part of last year. But a deal came up to replace it with the new tower.
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A token effort to 'renovate' this place by a slumlord might fool a lot of you, but it's obvious that this guy never had preservation in mind. You'll find this move out of page 1 of the speculator's playbook; make nice by appearing to restore historic building, then claim that its too far gone (in order to pacify preservationists). Turn around and sell it to a huge developer for a tidy profit; in turn they knock it down, and proceed to sit on it for 15-20 years.
The fact is whoever bought the building didn't have the resources necessary to make a true restoration, and never intended to follow thru with the effort.