A building permit application was recently submitted to demolish an existing La Quinta on Meridian just south of I-40 and construct a 5-story Residence Inn and two other hotels on the same property.
Interestingly, the existing hotel was built in 1970 and was recently purchased by a local hotel ground for $2.9 million. That is a lot of money for a tear-down on 4.4 acres of land.
The hotel market here just seems to keep rolling.
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