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Will Gold Coast Deals Mean The Return Of The Mondrian?

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Four or five years ago, plans were on the table for The Mondrian Hotel at Cedar and State. Mark Hunt of M Development enlisted the architectural services of Solomon Cordwell Buenz (SCB) to draw up renders, cobbled together investors, and then watched it all collapse in the financial crisis. In 2008, big hotel deals were considered impossible to finance. That's all changed now. Over weekend, Crain's made an off-hand remark about the appreciating value of the former Cedar Hotel property and the likelihood that Hunt, along with Don Wilson and Fred Latsko, will soon make a similar pitch for the site. The tidbit came along with an article ruminating about the high price being asked for the across-the-street Carmine's property and what it suggests for Viagra Triangle development prospects. If we're to believe the narrative, then something akin to the 2007 SCB rendering, at right, could be closing in. A facadectomy was performed the first time around, and we hope it'll happen again, since the old Cedar Hotel building is a highly attractive member of the streetscape. A defunct transient hotel, we'd guess the interior is at add odds with the exterior. Should something come about, we don't yet know who'll design it or how it'll measure up to SCB's glassy 216-room building. Though you can bet it'll be high-end. A tip of the hat to various Skyscraper Page users for bringing the goods.
·Gold-plated price for Rush St. site [Crain's by subscription]
·Deal for trendy Gold Coast hotel collapses [Crain's, 2009]
·General Development Thread [Skyscraper Page]