WAREHOUSE DISTRICT — The building best known as the former home of Nate’s Clothing is set to become a boutique hotel. The property at 401 1st Ave. N. has been purchased by South Dakota-based Regency Hotel Management, which also owns hotels in Plymouth and near the Mall of America.
Regency Hotel Management’s Tom Biegler said he wouldn’t be able to announce a timeline for completion of the building’s conversion until historical assessments on the property are completed. He said plans for the property are still being refined.
“Upscale boutique is what we’re after,” said Biegler. “That’s the thought process right now. It’s just something that sets us apart in downtown Minneapolis. We’ve wanted to be there for a long time.”