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Redevelopment plans for downtown Palm Springs, California, took a blow when one proposed hotel was put on hold and another one canceled. The developers of the Hard Rock Hotel, who had arranged financing through troubled Lehman Brothers, have delayed the $260 million project until they can find new financing. Meanwhile, Port Lawrence has been canceled, also because of financing woes.
The desert hotel scene isn't all doom and gloom, however. The planned Mondrian Hotel has financing in place and is working its way through the city's design review process.
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Two Palm Springs Hotel Projects Hit the Skids
Nov 14, 2008 - Source: The Desert SunRedevelopment plans for downtown Palm Springs, California, took a blow when one proposed hotel was put on hold and another one canceled. The developers of the Hard Rock Hotel, who had arranged financing through troubled Lehman Brothers, have delayed the $260 million project until they can find new financing. Meanwhile, Port Lawrence has been canceled, also because of financing woes.
The desert hotel scene isn't all doom and gloom, however. The planned Mondrian Hotel has financing in place and is working its way through the city's design review process.
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