After months of delays, the company behind a planned downtown hotel is ready to break ground.
Utah-based PEG Developments announced in a press release that it will be holding a groundbreaking ceremony on Jan. 29 for its proposed $23-million, nine-storey Courtyard by Marriott hotel at 100 Gordon St., a vacant piece of land across from the Vancouver Island Conference Centre.
The ceremony will begin at 10 a.m. and includes “project updates,” comments from local city leaders as well a “tribute” to the Snuneymuxw First Nation, the release notes.
PEG bought the Gordon Street property from the City of Nanaimo in 2017 and construction on the hotel was expected to begin in 2019, but had been delayed repeatedly due to rising costs.
It’s not the first time a ceremony has been held on the vacant property. SSS Manhao International Tourism Group held an official ribbon-cutting ceremony for a planned 21-storey hotel on the same property, but in 2015, SSS Manhao pulled the plug on the project and sold the land back to the city.
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