LORAIN — Lorain residents will have a chance to get a “before” look at the inside of the Broadway Building on Wednesday.
Lorain Port Authority Executive Director Tom Brown said people will get to see parts of the inside of the building at the intersection of East Erie Avenue and Broadway as part of a construction kickoff event.
“We’re going to open up the lobby for people to get a peek at,” he said. “We really want people to have the ‘before’ shot before we start construction. We’re just excited to finally be able to kick it off.”
Once completed, the hotel, which will be known as Ariel on Broadway by Cobblestone, will be the first hotel in the city in more than 15 years.
Ariel on Broadway is being run by Cleveland-based Ariel Ventures. Ariel Ventures partner Radhika Reddy said in June that the project would be the culmination of work from those at the Port Authority, the city of Lorain, the Lorain County Community Foundation, Lorain County Community College, Lorain Schools and the Lorain County Chamber of Commerce.
“We are so excited to be awarded the state historic tax credit for the Ariel on Broadway project,” Reddy said. “We look forward to starting construction on this catalytic, transformative project for downtown Lorain.”
The building previously served as the Spitzer Plaza Hotel, which closed in 2005 because of low occupancy, and in recent years fell into disrepair.
The new construction project would revert the building to a hotel with 55 rooms, a restaurant and event space and cost about $9.1 million, about $1.75 million of which will be covered by historic tax credits.
Brown said the news conference celebrating the start of construction will begin at 9:30 a.m. on the roof of the parking deck attached to the building.
“We’re excited to introduce the team and all of the contractors,” he said. “It’s been a slower start than we would have wanted, but we still want a summer opening for next year and the whole construction project should take 12 to 13 months.”
Mayor Chase Ritenauer said the event will “mark the start of the remake of the historic Broadway Building.”
“It is a day many doubted would ever come and symbolizes a turning point for downtown Lorain,” he said.
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