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Clock Ticking On Granada Project

The Dalles City Council, acting in its role as the Columbia Gateway Urban Renewal Agency, received an update from Michael Leash of Rapoza Development on the Granada block development project in which Leash admitted the clock is ticking to get equity partners on board.  Leash told Councilors there are investors at the local level who have become interested in the hotel and conference center project in the last two months, and talks continue with a real estate investment bank in Bellevue.  He added that Venture Hospitality of Portland will sign a letter of intent to handle food and beverage for the facility, but Portland hotelier John Lee is “on the sidelines,” even though Leash also said Lee is not completely out and he remains in contact.  Mayor Steve Lawrence expressed skepticism that Rapoza can meet all of its requirements by a December 31 deadline established by Urban Renewal last year, saying he was looking for reality checks.  Leash responded by saying he was getting a reality check everyday.

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