Allegheny County Executive Dan Onorato and Kratsa Properties presented designs this morning for the latest downtown hotel on the former site of the County Jail Annex.
Onorato says the county made money on the sale of the half-acre lot, which Kratsa bought last December for its appraised value of $1.55 million, and it will go back on the tax rolls with no public subsidy for construction.
Kratsa Properties has built a number of hotels in the region, including the South Side's Holiday Inn Express on 10th Street and the Spring Hill Marriott on the North Shore. This is their first Hilton project, which they think will get a lot of business from the court buildings and offices in the area. Construction on the six-story, 156-all suite hotel will cost $25 million and take about a year. Groundbreaking may be in November or December if necessary approvals come through.
Monday, July 7, 2008
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