Mayor Jennings and Browning of True North hold ribbon cutting for $10.5 million TownePlace Suites

The TownePlace Suites by Marriott hotel has opened on 22 Holland. Ave. in the University heights section. Mayor Jerry Jennings and Lee Browing, president and owner of True North Development Group of Long Island, held the ribbon cutting on October 16th. The hotel is owned by True North Albany Extended Stay LLC, and operated by Interstate Hotels and Resorts Inc. The project cost was $10.5 million. The 106-room hotel is the second new hotel to open in the past 16 months the area. In June 2007, a 129-room Hilton Garden Inn opened across from Albany Medical Center Hospital. The building was formerly the Eden Park Nursing Home, which closed in September 2003. The Albany Industrial Development Agency provided financial assistance for the conversion of the nursing home into the hotel.

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AmTrustRE completes $211m acquisition of 260 Madison Ave.

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