The sale of a still unfinished hotel in downtown Butler continues to move forward and the buyer has been revealed.
The Redevelopment Authority of the City of Butler has approved the sale of the Marriott Springhill Suites on East Jefferson Street for a purchase price of $7.3 million. The buyer of the hotel has been identified as Hari Hotels, LLC.
The structure is being sold by several owners including developer J.S. Capitol and the Butler Area Development Corporation which is affiliated with the Redevelopment Authority. The two local entities will receive a total of just over $400,000 after other creditors and vendors have been reimbursed including a $2 million loan repayment to PNC Bank. The actual closing of the sale is expected to take place sometime before January 6th.
The hotel is still under construction and it’s unclear when it will officially open. It was built as part of downtown Butler’s Centre City Project that also included the parking garage next to the hotel and the Rite Aid on the next block.
Written by Ryan Saeler
