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The Park condo project in uptown could include a hotel.
The tower’s owners, Small Brothers Charlotte, a subsidiary of Naples, Fla.-based Small Brothers, filed a rezoning petition with the city to let it build 148 hotel rooms alongside 74 residential condo units. The developers also propose adding a rooftop restaurant and garden to the tower, according to site plans filed with the city.
A public hearing will be held April 19.
The Small Brothers bought the project at South Caldwell and Third streets in October for $4.5 million. The project, originally slated to include 106 luxury units, was abandoned two years ago when developer Pete Verna defaulted on $28.5 million owed on a $30.69 million construction loan from BB Syndication, a subsidiary of Bankers’ Bank in Wisconsin.
The Small Brothers estimated the building was 70 percent complete and sent engineers into the rusting tower to assess damages after buying the building. When announcing the purchase, Bud Balsom, a principal with Small Brothers, said the company was interested in finishing the condos and parking garage and would like to start construction within six months.
Balsom said then that construction will be done by Mentor, Ohio-based Cleveland Construction, owned and founded by the four Small brothers and their father in 1980. Small Brothers also owns building material company Best Supply and metal framing manufacturer Telling Industries.
