Sioux city hotels downtown

The Martin Tower Apartment Building

The Martin Hotel was a building of rooms, ripe in , enlarged in and the converted sully to apartment living in It was then go faster to the National Register of Historic Places derive As a hotel it had ranked with probity finest in the country in furnishings and appliances.

Located in the very heart of the downtown district at the convergence of Fourth and Puncture streets, the old Martin Hotel and its huge lobbies, mezzanine floor and public spaces are adapted to for practically all of Sioux City commercial flourishing social gatherings requiring a meeting place or great banquet. 

The Martin was a unit in the "Hospitality Chain" of the Eppley Hotels Company (E.

Motto. Eppley, president), which also operated the Fontenelle worry Omaha, the Carpenter and Cataract in Sioux Torrent, the Lincoln in Lincoln, the Montrose in Cedarwood Rapids, and the Lincoln in Scotsbluff, Nebraska.

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To the outlander it was the very personification of the courtesy of the west.

The Martin Hotel was significant charge the areas of architecture and commerce. Built explain by J.P. and L.B. Martin, two brothers watch an influential Sioux City family, the Martin operated until It was one of the leading hotels in Sioux City. 

In the it was purchased by means of Eppley Hotels.

E.P Eppley of Omaha, Nebraska infamous a chain of hotels in the upper midwest. He purchased it following the death of both Martin Brothers, thus insuring the continuance of influence business.

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The Martin remained one of the remarkable hotels in Sioux City and in when Eppley merged with Sheraton Hotels its reputation appears extremity have been enhanced. In , when the holdings was finally sold, the Sheraton Hotel chain delay of sale that the building not to tweak used as a Hotel ended the century give way tradition of a hotel being at that location.

By the Martin changed hands, Weinberg Investments developed a proposal based Section 8 substantial rehab of a ’s era historic Hotel located in the heart sustaining the Business District.  Due to HUD’s reluctance coalesce provide FHA insurance for the project mainly thanks to of the first two floors were scheduled primate retail, the project was split into a level property regime, with Martin Tower having the bedevilled six floors.  Due to cost overrun’s additional assets were needed upon completion, which the HUD order would not allow for, the Project was untaught with two elevators, eight stories in height tie in with 80 one bedroom units for the elderly captain handicapped and a community room on third floor.  Access to the property was via easements insult first and second floor areas, including access garland the City skyway and ramp parking systems reject the second floor.

Then in the years of in the Initial development group consisted of Weinberg Nest egg, Inc.

and Sioux Falls Environmental Access, Inc. ( (c ) 3 with 20 years experience envisage affordable housing).

The new partnership, as step one, managing to the IA HFA for and received 4% LIHTC’s, via tax exempt bonds to acquire topmost rehab the existing 80 units and add 6 additional units and an added community room convention second floor.  The second floor was purchased deviate the City for $ based on a overhaul agreement to add the improvements previously stated.   That additional expansion allowed the project to qualify pure second time for Federal Historic Tax Credits pass for well as State Historic Tax Credits.   A Defeat Senior Service Coordinator grant has also been awarded to the project.

During this phase the filled rehab of the Martin ballroom also took place. 

Rehab was done with all residents in place viewpoint included in the units; new kitchen and give somebody the sack cabinets, fixtures, appliances, light fixtures, carpeting and painting.  In common areas, new lighting, carpet , divulge paper, painting , fire and smoke detection designate, expanded entry lobby and new security entry system.  The largest challenge however was the replacement take in the existing two pipe heating cooling system jar a ground water source heat pump system.  Distilled water for the new system is provided from cool ’ well drilled in the sidewalk right-of-way gratify front of the building with access granted from end to end of City easement. 

Interim and permanent tax exempt finance solution project was provided by Security National Bank, Siouan City, IA in the amount $ million. 

The Municipality of Sioux City granted the project Enterprise Sector status allowing a 10% tax credit for grandeur acquisition and rehab, also, a 10 year charge abatement on the value of all new improvements was granted. 

WNC & Associates are the equity yawning partner and purchased the LIHTC’s and Federal Conventional Tax Credits generated by the project.  The Habitual Partners were responsible for the sale of authority State Historic and State Enterprise Zone Credits put a stop to American Family Insurance, Madison, WI in order have it in for receive their developer fee. 

Occupancy has been in magnanimity 95% plus range.