Gerard Keating a Florida-based real estate investor closed on a $2.3 million purchase of the Gold’s Building, which covers half the block bounded by 10th, 11th, O and N streets in Lincoln Nebraska. Keating is planning a $15 million-$20 million redevelopment project that will turn the six-story, 115,000-square-foot northern part of the building into a 110-room extended-stay hotel. The 207,000-square-foot, four-story southern part of the building will house existing tenants, including State of Nebraska offices.
Work in the four-story portion of the building will start right away, and will include upgrades such as new elevators, bathrooms and windows, as well as new paint and carpet and plans for the work to be complete by August, at which point work on the hotel will begin. That work is projected to take a year and the hotel would be open in August 2021. The owner is planning to brand the hotel as a Residence Inn by Marriott but is still considering all brands and plans to make a final decision by March 2020. The extended-stay hotel rooms will have full kitchens and the first floor of the hotel will have a restaurant and bar. Nebraska Sign Co. will recreate three iconic 1950s neon Gold’s signs from their original patterns to adorn the exterior of the building. Local firm NAI FMA to manage the building. For more information on this and other upcoming hotel construction and renovation projects in the planning, design, pre-construction and construction phase including who is involved and their contact information and Preferred Vendor Directory please visit: HotelProjectLeads.com and subscribe today.