Financing slows progress on conversion of downtown landmark to luxury hotel
BPC Staff Oct 19, 2018 | 8:37 pm
<1 min read time
114 wordsAll Latest News, Real Estate and DevelopmentFolks 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.