Developers of proposed Salem hotel to ask for extension
SALEM, Va.- – Developers for a proposed hotel in Salem will ask the city for more time to make financial arrangements.
Spartan Development LLC signed an agreement in October 2016 to build a hotel.
They said construction would start within two years, planning to build on a vacant lot next to the Salem Civic Center.
Dan Friesland, one of the developers, said they need a little more time to make sure they have financing.
They already secured a soft loan commitment. He said the hotel will be a tremendous economic impact for the city.
Developers will meet with the City Council on Monday night to discuss moving forward with the plan.
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