A longtime downtown hotel is about to undergo some major changes.
Red Deer’s Stanford Inn has been sold and will be partially converted into an office building, said Ralph Salomons of Ralph Salomons Commercial Inc.
Salomons, who brokered the deal, said the Tandoor & Grill and O’Malley’s Pub will continue to operate on the main floor, as will the guest rooms on the second floor. These areas will be leased to Anil Handa, who will also operate the conference rooms on the building’s lower level.
The third and fourth floors — which consist of about 17,500 square feet — will cease to be used as guest rooms next Thursday, said Salomons.
“We’re looking at gutting the floors, so it could be laid out in any fashion.”
Dating back to the mid-1960s, the building has also operated as the Granada Inn and Court House Inn.
It’s been owned by Stanford Hotels and Resorts, which also has hotels in Grande Prairie and Fernie, B.C., since 2000. Prior to that, it was the property of local businessman Geoff Goodwin.
Salomons said the latest buyer, which he described as a local investment company, does not want to be identified.
The hotel has about 60 rooms, with a third of these on the second floor. Salomons said the facilities have been underutilized.
“That hotel is not well-located downtown, and it wasn’t part of a chain — other than (Stanford Hotels and Resorts’) own chain — so it did not get the kind of business that they needed to continue.”
However, Salomons thinks it has good potential as an office building. Slated to operate as Coronation Centre, it will be less expensive than other downtown options, has an elevator and is served by 60 on-site parking stalls, as well as street parking.
The building’s proximity to the courthhouse and to City Hall will also be attractive to some tenants, he said.
Renovation timelines will depend on leasing, said Salomons.
“It’ll be totally tenant-driven.”
hrichards@www.reddeeradvocate.com