The Coastal Star

Delray Beach: Hudson Holdings Properties

Hudson Holdings
The Delray Beach developer specializes in “bringing history back to life,” according to its website. Here’s a look at its properties outside Florida:

Louisville, Kentucky: Republic Building (built in 1912)  — Hudson paid slightly more than $3 million for it in summer of 2015; it has 11 stories and 62,370 square feet. Plans call for a boutique hotel with 110 rooms. JRA Architects filed a $143,470 lien in February. Status: Seeking construction financing that also will be used to pay off the lien.
Starks Building (built in 1902) — Hudson paid $14.25 million for it in spring of 2015; it has 14 stories and 350,000 square feet. Plans call for a luxury hotel with 260 rooms, 100 apartments, a ballroom and conference facilities, a coffee shop and at least one ground-floor restaurant. Wehr Constructors Inc. sued in August 2016 to collect $458,000 owed. Five liens filed for more than $851,500 owed. Status: Seeking construction financing that also will be used to pay the money owed.
Kansas City, Missouri: Mark Twain Tower (built in 1923) — Hudson paid $6.25 million for it in March 2016; it has 22 stories and 204,000 square feet. Hudson plans to preserve fifth-floor ballroom and swimming pool on seventh floor when the office tower is converted into a 154-unit apartment building, The Continental. Status: Seeking construction financing.
St. Louis: Railway Exchange Building (built in 1912)— Hudson paid $20.4 million for it in January after nine amended purchase agreements; it has 21 stories with 1.2 million square feet. Plans call for apartments, stores and a hotel. In June, two Boca Raton mortgage brokers sued, claiming they were not paid as promised for arranging a $10 million loan from a Hungarian company. Their lawsuit alleges that the money did not go to help the developers buy the Railway Exchange, that instead the money was misused. The brokers claim that the Midtown Delray Beach partners of George Marshall and Steven Michael and other business partners knew. Marshall could not be reached for comment and Michael declined to comment on the open lawsuit. Status: Settling an insurance claim for a water main break.
Cincinnati, Ohio: Textile Building (built in 1906) — Hudson paid $12 million in March 2016 for the 12-story, Renaissance Revival style building with 213,000 square feet. Hudson plans to turn it into a mix of uses and pursue Ohio Historic Preservation Tax Credits. Status:  Seeking construction financing.
Cleveland: 925 Building (built in 1924)— Hudson paid $22 million in June 2015 for the 22-story building with 1.4 million square feet of space. It was mostly vacant. In February, Hudson secured a $34 million bridge loan from a New York lender. That loan is due next year. Plans call for a complex with 673 apartments, 279 high-end hotel rooms, office and business incubator space, and retail and event space. Hudson received $25 million in Ohio Historic Preservation Tax Credits in December 2015. In January, the Cleveland City Council agreed to give the owner a share of the taxpayer dollars when the estimated $300 million development is finished. Status: Seeking construction financing.

SOURCES: County court records in Kentucky, Missouri and Ohio; and newspaper and business publications in those states and Florida.
— Research by Michelle Quigley and Jane Smith

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