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Local News - Local - September 18, 2009
Peppertree developers get loans
Work on $9 million hotel project to resume this month

By Mike McLean
Of the Journal of Business

The project at the corner of Division Street and Third Avenue has been stalled since last winter, but is expected to resume soon.
The project at the corner of Division Street and Third Avenue has been stalled since last winter, but is expected to resume soon.
—Staff photo by Mike McLean
Developers of the long-stalled Best Western Peppertree Inn & Suites project at the northwest corner of Third Avenue and Division Street say they expect to resume construction of the $9 million structure this month, after having secured a substantial portion of the financing they need to complete the project.

Rita Santillanes, who is codeveloping the project with her husband, John, says the couple has obtained two loans totaling $4 million that will enable them to secure other finan...


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