Hotel Van Zandt Cancels Condo Project

The developer of the 290 room Hotel Van Zandt and the 55 luxury Residences at the Hotel Van Zandt have announced that they are abandoning plans for the condo portion ofthe project. Instead of a 29-story tower with hotel and condos, the developers will proceed with a scaled-back 16-story hotel on the site near the Shore in the southeast corner of downtown.

The Residences at the Hotel Van Zandt were to feature 55 units ranging in size from 1,400 to 5,200 square feet and ranging in cost from $500,000 to $2 million. As we have mentioned before, it’s a tough time to get financing for large condo projects and many of the projects that have been conceptualized but not yet broken ground may face cancellation. For buildings that are already under construction — the Austonian, Spring, W Hotel & Residences, Four Seasons Residences, BartonPlace — are all expected to be completed as planned.

THE ORIGINAL PLAN FOR THE HOTEL VAN ZANDT:

THE NEW PLAN FOR THE HOTEL VAN ZANDT: