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Financing slows progress on conversion of downtown landmark to luxury hotel

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Folks following the redevelopment of the Midland Building into a luxury hotel will have to wait a little longer than anticipated for its opening. The Des Moines City Council will be asked Monday to approve an amendment to a development agreement with Chicago-based Aparium Hotel Group that will extend the completion date to May 1, 2020, from Dec. 31, 2019. Aparium plans a $40 million renovation that will convert the historic 12-story office building at 206 Sixth Ave. to a 140-room boutique hotel. The holdup has been in securing financing for the project. According to a report to the City Council, the financial package should be completed by the end of the month.