Embassy Suites (Plymouth Building) - 12 6th Street S

[Azel]

What's the status of this conversion? Anybody pay any attention to the subsidies and National Park Service money it has received?

[5th Ave Guy]

I heard this project is dead and they're now looking at an office conversion. Anyone else hearing the same?

[Silophant]

I haven't heard anything, but I've been wondering what was going on, since I walk by 2x daily and haven't seen a single sign of life since the parking garage shut down.

[acs]

Good, we need to keep and grow the number of office jobs downtown. There's already a ton of new hotels announced/under development.

[MNdible]

I heard this project is dead and they're now looking at an office conversion. Anyone else hearing the same?

I love the prospect of an office conversion that converts an office building into an office building.

[twincitizen]

I thought that was odd as well. Someone's gonna have egg on their face if they go back to doing a residential conversion.

If it's not going to be a hotel, residential would seem to be the ideal outcome. Get as much Class B/C space off the market as possible. Wells Fargo is going to leave a ton of it vacant in the coming years.

As I noted in the 4Marq thread, it's possible right now that very few new apartments will be hitting the market in 2016 (in the downtown core). Perhaps someone will sense an opportunity here for a window of very little competition if they could get the project open in late 2016 / early 2017.

[martykoessel]

I heard this project is dead and they're now looking at an office conversion. Anyone else hearing the same?

Are you confusing this with the Nate's Clothing Building, which was originally going to be a boutique hotel and is now slated to become offices?

[5th Ave Guy]

I heard this project is dead and they're now looking at an office conversion. Anyone else hearing the same?

Are you confusing this with the Nate's Clothing Building, which was originally going to be a boutique hotel and is now slated to become offices?

No, it was definitely the Plymouth Building.

[twincitizen]

Seems to be some support for the rumor that Conrad Hotel is dead: https://twitter.com/UrbanMSP/status/565271765430304771

All of the involved parties (Hilton, Heartland Realty) are in "no comment" mode.

I guess they should have stuck with that apartment conversion after all. That was first announced 2 years ago - theoretically it would be opening right about now, with very little competition currently on the market.

[Archiapolis]

Seems to be some support for the rumor that Conrad Hotel is dead: https://twitter.com/UrbanMSP/status/565271765430304771

All of the involved parties (Hilton, Heartland Realty) are in "no comment" mode.

I guess they should have stuck with that apartment conversion after all. That was first announced 2 years ago - theoretically it would be opening right about now, with very little competition currently on the market.

Dead. Mark it down.

[Wedgeguy]

I found it hard to believe that it would actually happen. There are already several hotels that cover the luxury range. You have the Lowes, Le Meridan, Ivy Hotel, and the Grand Hotel. There are others that probably have some rooms within striking distance for cost. Luxury is covered for awhile.

[Tyler]

None of those are luxury hotels. Maybe they got wind of Four Seasons desperately wanting a Minneapolis location.

[min-chi-cbus]

I found it hard to believe that it would actually happen. There are already several hotels that cover the luxury range. You have the Lowes, Le Meridan, Ivy Hotel, and the Grand Hotel. There are others that probably have some rooms within striking distance for cost. Luxury is covered for awhile.

You'd think a Conrad would be more like a destination hotel than just another competitor though.

[sushisimo]

Wow, this news is awkward. What's the skinny on the existing offices moving out? I know one office moved into Lumber Exchange, but I'm not sure if they proactively moved before a deadline, or forced. It would be weird to vacate the building and then have this happen.

[nordeast homer]

I think most of the tenants have left, there may be a couple left, but not many. Poor planning buy the building to not have everything signed and ready to go before they let the tenants go.
I wonder if they'll approach another hotel chain? It would be great to see more activity in this building. It's too nice of a building sit empty.
I've got to believe there is a high level of incompetence here; this should be ground zero for a developer, a can't miss opportunity. This is on Hennepin, next to the light rail. Ugh!

[5th Ave Guy]

Wow, this news is awkward. What's the skinny on the existing offices moving out? I know one office moved into Lumber Exchange, but I'm not sure if they proactively moved before a deadline, or forced. It would be weird to vacate the building and then have this happen.

They forced the tenants out with a deadline. I think everyone is out, but not 100% on that.

[Jenny on the Block]

All tenants except Lyon's were out by Sept 1. I heard that Conrad began work on the conversion and the contractors reported that the budget was way under what would be needed to finish the job.

[grant1simons2]

Ryan Companies filed a preliminary plan review for the building on 4/7/15... Is this news or am I just late to the party?

http://apps.ci.minneapolis.mn.us/PIApp/ ... 2924440010

[Wedgeguy]

Have read nothing of the sort so far. You just had a scoop there Grant. Glad that some other developer with the resource is looking at this building!! Great find.

[grant1simons2]

So I saw a tweet out to Sam Black and Voge on this earlier. Any news thus far? I'm feeling pretty proud my obsession with re-purposing buildings, urban planning and architecture is finally helping a bit