John Sevier Hotel building study complete

A consultant’s study with a timeline and early cost projections for the renovation of the century-old John Sevier Hotel building projects the construction will take several years and require significant financial subsidy. The report estimates a $40 million total renovation cost with changes in that price tag depending on the final design and use. By late this decade the building should be in private hands and generating revenue. The timeline and financial projections come from Hunden Partners, a real estate consultant firm who prepared the study on the 11-story historic building’s prospects for transitioning to “highest and best use” and generating jobs, spending and tax revenue. The report also envisions the sale of the Downtown Centre next door, which includes a 343-space parking garage the hotel building developer would likely need to either control or have exclusive access to some spaces.