Signs out the front of the new Hargreaves Mall hotel site say construction is expected to begin in 2023, however almost three weeks into the year it remains unclear when the work will start.
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The project was originally slated to commence building in June 2021, with hopes it would open in 2022, but it was postponed due to the COVID-19 pandemic.
Now, construction costs and a reduced lending capacity from the big banks have pushed back the build even even more, Bendigo Hotel Investments representative Ben Tzirkas said.
Mr Tzirkas said they need to "wait for the economic climate to turn" before any work starts at the site.
However, he's hoping to see cranes and tradespeople at the former Thomas Jewellers building sometime this year.
The project is expected to take 18 months at least, and with the Commonwealth Games coming to Bendigo in 2026, Mr Tzirkas said he'd like to see the hotel in use three to six months prior to the event.
The hotel, which will be managed by Accor's Mantra brand, was approved by the City of Greater Bendigo council in July 2020.
It's expected to cost $14.4 million and to have six storeys and 110 rooms, as well as a restaurant, cafe and function facilities.
According to the development's plans, it would create demand for 101 car parks during the evening and 34 car parks during the day, however it would not have its own car park.
Hotel guests would have to park in one of the CBD's multi-storey car parks, including the Edwards Street car park.
On the other side of the mall, a late night venue has been proposed which includes a cafe and lounge bar.
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The Hargreaves Mall hotel is one of three major developments proposed in the city centre.
Tenders are currently out for construction works on the hotel on the corners of Williamson, Mollison and McLaren street, which would see the demolition of Forty Winks building, formerly the Bendigo Timber Company showroom.
The 202-room development is the biggest hotel currently planned in Bendigo.
A 105-room hotel with a restaurant and bar has been proposed for the vacant site next to the former Bush's Produce Store building on Williamson Street, however construction has not yet started at that site.
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Jonathon Magrath
Jonathon has been living and working in Bendigo since March 2021, currently working as a general reporter. Contact him on jonathon.magrath@austcommunitymedia.com.au.
Jonathon has been living and working in Bendigo since March 2021, currently working as a general reporter. Contact him on jonathon.magrath@austcommunitymedia.com.au.
