Financing for the Josie Hotel is now complete.

William Cole Company completes financing for Josie Hotel

Spencer Clements, president of the William Cole Company, confirmed Tuesday that his company has completed financing for the Josie Hotel.

Financing for the Josie Hotel at Red Mountain is now complete.

Spencer Clements, president of the William Cole Company, confirmed Tuesday that his company “has all the funding we need to complete the hotel.”

Construction is expected to resume in approximately three weeks. “We’re talking to Greyback [Construction] right now and the email I just got back from them is it’s probably in the next week three weeks or so we should be back underway, but it could be two, it could be four,” said Clements.

Visitors to Red may notice that the crane remains inactive. It’s not expected to be needed again until closer to March, but will remain on site. “The latest information we have is that crane is going to stay on site, but the work we’re going to be doing here in the immediate near future doesn’t require a crane,” said Clements. “They’re going to be working on the ground floor levels and things like that, underneath the concrete podium that we’ve already poured.”

Construction on the Josie Hotel is still expected to be complete in time for the opening of the 2017-18 ski season. The hotel will have 106 rooms, a restaurant, bar, conference and meeting rooms, a large deck and a spa that will include an outdoor pool. “I think the one thing that I would like your readers to know is that this is not just a ski hotel,” said Clements. “This is the region’s hotel. This is a product that we think that the region’s going to really find attractive and really fall in love with. There’s going to be good meeting spaces and a restaurant and things to do. We think it’s going to be a wonderful addition to an already wonderful community.”

 

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