Business & Tech

New Hotel Construction Could Begin by End of Month

Pacifica Companies reports that construction on a new hotel at 800 Seacoast Drive should begin by the end of the month, though the company originally expected a $14.1 million loan by the end of 2010.

Pacifica Companies said it expects to receive a $14.1 million loan from Wells Fargo by Feb. 17, said Director of Planning Allison Rolfe. The loan is the last hurdle for construction to begin on a new four-story hotel at 800 Seacoast Drive.

"You should see some construction activity out there by the end of the month," she said in an e-mail Wednesday.

After receiving about $7 million from the Imperial Beach Redevelopment Agency for the project at a Dec. 2 meeting last year, financing would be wrapped up by the end of the year and that construction would begin in January.

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In a story published at the start of 2011, the company also told Imperial Beach Patch .


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