The Hotel Grim renovation project has cleared a financial hurdle, and work on rehabilitating the downtown Texarkana, Texas, icon could begin in June.
The Texas Department of Housing and Community Affairs has awarded tax credit financing to the $25 million project, allowing it to move forward, Cohen-Esrey Development Group announced Thursday.
The award of tax credits is one of last financing mechanisms needed for the project. Cohen-Esrey, which has been actively working on the project for the past year, anticipates beginning construction as soon as next month.
"Hotel Grim is part of Texarkana's shared story, and shared stories bring people together. We are proud to be a part of the team that is writing Texarkana's next chapter," said Jay Johnson, the firm's Texas development director.
"The enthusiasm that Texarkana shows for this project is truly inspirational," Johnson said. "This is one of the more complex developments we have had the opportunity to work on, but the end result will be spectacular, and one that all of Texarkana will be proud of."
Look for more details in Friday's print edition and on texarkanagazette.com.