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First Affiliate To Build 116-Room Hilton

OAKDALE, MN-Chicago-based Corus Bank provides nearly $6.9 million in financing for a group affiliated with Des Plaines, IL-based First Hospitality Group to build a four-story Hilton Garden Inn hotel the heavily traveled interchange of Interstates 94, 694, and 494.

By Jim McCartney | Updated on June 28, 2004

OAKDALE, MN-A group affiliated with First Hospitality Group is building a four-story, 116-room hotel at 4th and Inwood, next to the Prom Center. The hotel is near the heavily traveled interchange of Interstates 94, 694, and 494 and is close to several major employment centers, including the headquarters of 3M Co.

Besides 116 guest rooms, the hotel will also contain two meeting rooms, a boardroom, an exercise room, a pool area and a restaurant and lounge area. Corus Bank, a banking subsidiary of Chicago-based Corus Bankshares, agreed to provide a $6.9-million construction loan to finance acquisition and construction costs related to the project. The hotel will be the third project financed by Corus for entities affiliated with First Hospitality Group.

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