Friday, March 5, 2010

The Coyote's Shadow: Give Me an 'M'... 'C'....

Though old news for most locals, in case anyone hasn't read about it by now, the Coyote Building--a historic landmark building at Six Corners, pictured-- is in foreclosure.

In the Pipeline I try to keep news light and noncontroversial, thus I won't address the foreclosure there, just link to articles about it, but in general this foreclosure is newsworthy because the Coyote is a landmark building.

MCM received a $5.2 million loan to purchase the property for $5 million. Half of the offices in the building are vacant. The plan to convert it to a boutique hotel- which initially I thought could be a good idea and a boon to local tourism if executed correctly- is now stalled in light of the foreclosure.

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