Quote:
Originally Posted by CrestedSaguaro
Also, while we're on the topic, is there any chance of the Coronado Hotel ever getting redeveloped? I hate walking by that place.
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Yeah, I'm with you on that. It's a head-scratcher to me that an investor hasn't already made an offer the current property owner can't refuse. I can't imagine what a frustration it must be to manage that property with funding limited to rates of only $35 per night (according to Google reviews) -
if you want your own shower. It's $25 per night to share a shower with others. Check out the Google reviews if you're curious about seeing things from the perspective of their customers. This 2-star
hotel averages 3.7 Google stars from reviewers with the largest number of submissions giving it 5 stars.
I'm often surprised at the lack of riff-raff hanging out there. It's an anomaly to me. I keep expecting to see needles and other litter scattered across the area. I keep expecting to see and smell human waste. I'm stunned that Matt's Big Breakfast started next door (I think they still use that place for storage) and used that to transform itself to the local nostalgic icon it is now.
Maybe the development of the surrounding area will drive up property values in a way that might lead them to consider selling. Looking at their payment history for parcel #s 11-43-044 and 43
https://treasurer.maricopa.gov/Parce....aspx?List=All, it appears as though they are paying less now ($24K last year) than they paid in 2012 ($26K), so maybe an ambitious long term investor is required.