The renovation of the historic Hotel Fresno has plans to transform this building into a mixed-use development. While maintaining many aspects of its original splendor, the Hotel Fresno project planned to boast high-end restaurant facilities, retail and office space, and residential units. That was the vision.
Last Remaining fresco inside
The future of the Hotel Fresno is again facing uncertainty. According to the owner, Baghgegian, they were ready to go. “We had our bank financing, the whole nine yards,” Baghgegian said. The loan was revoked, and other banks have been unwilling to provide money in the current economy. “Every time we take a step, it’s two steps backward” said Baghgegian. Meanwhile, the developers moved onto the circa-1917 Mayflower recently finished, but they haven’t given up on Hotel Fresno. Baghgegian said a FHA loan is close to reality for the renovation, which could cost up to $14 million. In spite of these delays, Baghgegian and his development group commitment to restoring and reusing the old Fresno Hotel, remains strong. They are currently negotiating with the city for a small loan of RDA funds to get started. The Mayor and many residents seem to support the idea.
On our next Urban Art walking adventure we check out some of Fresno’s oldest buildings; inside. Consider coming along Sat, Oct 1st from 10-12n as we explore the art of Fulton Mall, inside old buildings of the city’s core and even some great food tastes too!
Advance tickets at Brown Paper Tickets, $25pp
If you wait to purchase day of $30pp
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