A new hotel will be coming to Bozeman—and no—it won’t be on North 19th. No, this hotel, called the Etha, will be right in downtown Bozeman and will be moving into (and on top of) the old Armory Building on Mendenhall.
Investors hope the hotel can become more of a buzzing downtown hub, rather than a simple hotel. The hotel will have 8 stories, 102 rooms and include a 10,000 square foot ballroom for special events. The hotel will cater to the luxury market, aiming to provide travelers with all the expected perks and amenities. Building plans also called for a gastro-style pub/restaurant, which would help make the hotel a destination location for locals, as well as travelers.
Plans had initially stalled on the building, due to the bid knocking out a large chunk of the investors’ budget. The project in total will cost more than 22 million dollars.
Over the last five months, investors have worked through issues regarding the cost and permitting of the building and are ready to move forward. This winter, the hotel will fund the interior demolition of the building and they will then start building upwards in the spring. The Etha should be open by mid 2016, assuming all goes to plan.
A large real estate investment such as the Etha Hotel highlights the growing consumer and investor confidence in Bozeman. As Bozeman continues to recover from the 2008 recession, other investments similar to the Etha will not be unexpected.
Source: http://www.bozemandailychronicle.com/news/city/construction-to-begin-on-downtown-boutique-hotel-at-former-bozeman/article_99ecf030-74fd-11e4-9a25-3b43c279e5c0.html
http://www.bozemandailychronicle.com/news/economy/downtown-boutique-hotel-stalled-developers-remain-optimistic/article_2a0f75f6-f67e-11e3-84b1-001a4bcf887a.html
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