Downtown Ramada bound for foreclosure?
The L-T has some grim sounding news today concerning the Ramada Inn and Convention Center in downtown Eau Claire – looks like it's heading toward foreclosure as the owners have not been paying off their loans on the property, to the tune of one and a half million smackers. From the story ...
A Minnesota firm is foreclosing on the owners of the Ramada Convention Center, claiming in court documents that they owe nearly $1.5 million and haven't been making loan payments.
Dougherty Funding of Minneapolis filed the foreclosure lawsuit in Eau Claire County Court last month against Bloomington, Minn.-based SB Hotel Management and three Minnesota residents, Amarjit, Surinder and Kanwal Singh.
SB Hotel Management bought the eight-story hotel at 205 S. Barstow St. in downtown Eau Claire and the attached convention center in 2004.
Not sure how all this will play out. If foreclosure takes place, will the hotel/convention center remain empty and unused for a time? And what will it mean for the surrounding shops and eateries?
