The Hotel Indigo
In 2011 we were selected by Grand Traverse County’s Brownfield Redevelopment Authority to help with the The Hotel Indigo mixed-use project, a $16M redevelopment of The Hotel Indigo in Traverse City’s Old Warehouse District.
The project will construct a 107,862 square foot boutique hotel with 105 rooms, a 3,000 square foot conference space, restaurant, and underground parking. We were able to help secure over $2M though the following gap financing incentives.
- $1 million — Community Revitalization Program Loan (pending).
- $620,000 — US EPA Revolving Loan Fund Loan
- $455,000 — Local Site Remediation Revolving Loan Fund
We were also able to assist in securing and maintaining additional funding for the project valued at nearly $5 million. The Hotel Indigo opens it’s doors in the Spring 2014.