Additional debt approved for Hotel Northland project; July opening anticipated
GREEN BAY (WLUK) -- City officials say they're confident the Hotel Northland in Green Bay can open this year, following a judge's ruling.
A request by court-appointed receiver Paul Swanson to take on an additional $12 million in debt was approved on Monday. Under the plan, Octagon Credit Partners LP will loan the money to the project.
The city says subcontractors are back at work at the hotel, with more work expected to resume this week. The general contractor, Ganther Construction, expects to finish the project in mid-July.
Work started several years ago remodel the facility -- once the Schroeder Hotel, more recently senior housing -- into an upscale, boutique hotel. However, the project has run into several financial problems, halting construction.