Madison Equities plans to turn the Empire Building in St Paul, Minnesota, in to a boutique hotel.
The St. Paul firm is partnering with Sioux Falls-based Stencil Group on the $20 million project at 360 N. Robert St. The development team has yet to hire an architect or sign an operator on the 80 to 100 room project, which will see the conversion of an office building.
Jim Crockarell of Madison Equities said: “There’s a neat opportunity to create an artistic boutique.”
The Empire Building, built in 1889, was designed by Clarence Johnston Sr, a well-known Minnesota architect who also designed the Glensheen Historic Estate in Duluth, Northrop auditorium and other buildings on the University of Minnesota campus.
The developers plan to apply for historic tax credits to fund the project and, if all goes well, hope to complete it by late 2017 or 2018.
From: Boutique Hotel News