MINNEAPOLIS, MN HOTEL BUSINESS. has learned that a 257-room Renaissance Hotel will be part of a mixed-use center under construction here.
The Marriott International brand property is being developed by Graves Hospitality Corp. and is being financed by Associated Bank, Inc.
Marriott currently has a presence in downtown Minneapolis with a Residence Inn and the Marriott City Center.
The overall project, known as Block E, will encompass 220,000 square feet of retail and entertainment and will be sited at North 6th St bounded by First and Hennepin Avenues. The center will fill the vacant block between the Target Center and City Center complexes.
Associated with the development are Chicago-based McCaffery Interests, Inc.; architects/planners Antunovich Associates; New York-based Westfair Realty Advisors; the Minneapolis Community Development Agency; and the City of Minneapolis. The project is being financed by the Union Labor Life Insurance Co.
Costs were not disclosed. (5/11/01) Stefani C. O Connor