Jones, a Petaluma resident, brought the idea to develop the site at Petaluma Boulevard and B Street into a four-story hotel before the city's Historic and Cultural Preservation Committee for informal review last year. But that's as far as the project got.
“Finances have been a part of it,” said Jones, whose family has owned the site of the proposed hotel since 1963. “We've been putting it off until the expectations of economists improve. It's difficult to get investor capital when investors aren't willing to take a risk or mitigate that risk in terms of knowing that you're going to have residents for the hotel and that it will be enough to pay for your employees.”
Despite the delay, Jones said the project has taken a new step forward thanks to a recent decision by the Planning Commission to extend the time a business has to receive a development permit after receiving the commission's approval or a conditional use permit.
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