Palace deal collapses, new buyers emerge ...Middle East

Ukiah Daily Journal - News

In a stunning turn of events, city-supported plans of an investor to transform the historic Palace Hotel into an commercial anchor for downtown Ukiah have collapsed. Jitu Ishwar, the current owner of the derelict hotel property, this past week refused to accept final purchase terms from investor Minal Shankar who had developed detailed plans to move ahead with rehabilitation of the derelict hotel. Instead, Ishwar made a side deal with a new group of investors led by a downtown restaurateur to the dismay of Shankar, city officials, and business and community leaders who had hoped that finally the ‘moment’ for restoration of the Palace as the town’s centerpiece had arrived. Deputy City Manager

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Last updated : 16 July 2023 clock 04:04 PM

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Palace deal collapses, new buyers emerge ...Middle East

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