Million-dollar deal for Historic Redmond hotel

Redmond, OR  A $1 million deal between the city of Redmond and a California investment firm could revive the New Redmond Hotel, a historic downtown landmark vacant since 2005.

The Redmond City Council, acting in its role as the Redmond Urban Renewal Agency, agreed Tuesday to spend $1 million toward renovating the 89-year-old hotel. Alpha Wave, an Orange County, California, based hotel investment group, will then come up with the remaining funds for the purchase and renovation work involved in the $5.25 million project.

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