Despite setbacks and new management, Hotel Northland hopes to open mid-summer
GREEN BAY (WLUK) -- Hotel Northland in Downtown Green Bay is under new management as renovations continue.
The project has also faced problems, including a number of delays.
The historical site was built in the 1920s.
"Very few hotels have an open lobby with open stairwells," said Keith Harenda.
He's the CEO of KPH construction and says the project is now 72 percent complete.
Investors have come and gone. FirstMerit Bank, which planned to finance $12.8 million is no longer involved.
"Regardless of that, we're moving forward with a new senior lender," Harenda said.
The new lender has not been publicly announced.
Harenda also decided to buy out his partner Michael Frantz. Harenda now owns Frantz Community Investors. Court records show Frantz filed a restraining order against Harenda's company but no further details are available.
However, Harneda has seen tremendous support from the city of Green Bay, $4.7 million to be exact. That information can be found at the Brown County Register of Deeds.
And the number has been increased thanks to Tuesday night's decision from the Redevelopment Authority (RDA).
"We approved a gap loan for $500,000 to handle some of the financing for the new investors," said Harry Maier, chair of the RDA.
Maier toured the hotel and had positive things to say about it.
"Hotel Northland is an icon for the city of Green Bay," he said.
- To learn more about Hotel Northland, click here
"I think this is going to be a spark, this is going to be a crown jewel. You'll have synergies that this hotel will bring to the downtown."
But that's not the only goal, Harenda also wants the hotel to be a place for those who are young and old.
Other highlights of the hotel include a crystal ball room dedicated to special events and 160 hotel rooms.
The overall cost of the project is close to $50 million according to Harenda and it's expected to open mid-summer of this year.