Demolition professionals have indicated imploding the dilapidated 14-story Hotel Sterling tower could be the most cost-effective way to raze the structure, said Alex Rogers, executive director of CityVest.

"Buildings of this size in urban areas, (implosion) is what is typically done, but not always," Rogers said. "We're anxious to see what the bids say."

CityVest, a non-profit development corporation, is seeking professionals for environmental remediation and demolition at the West Market Street site. Interested firms must submit proposals by Jan. 11. Bids will reveal the project's cost.

Demolition and removing asbestos, lead-based paint and other environmental hazards should take two or three months to complete, weather permitting, Rogers said. CityVest believes some environmental and demolition work can be completed simultaneously.

"We want to get the work started," Rogers said. "There is plenty that can be done with or without snow on the ground. We're eager to move this project along."

Once the work is complete, it will allow CityVest to begin a full-scale revitalization of the hotel's main building - a seven-story structure at West Market and North River streets. Lower floors will house commercial businesses and top floors will be used for residential housing.

Beside the 14-story tower, a four-story building that connects the hotel buildings, and a two-story structure in the rear of the property that centralized its utilities, also will be razed.

The independent construction of each of the buildings clears some demolition obstacles, Rogers said. The goal will be to contain the work to the site as much as possible, he said.

"We don't want to inconvenience people who live and work downtown," Rogers said. "But at the same time we're going to make sure the activity occurs in a safe manner and nobody is placed in harm's way."

Renovation of the seven-story hotel and demolition work is expected to cost between $22 million and $24 million, Rogers said.

CityVest secured $9 million in government-related financing for the project. It has spent approximately $2 million on acquisition, design and restoration to date, Rogers said.

The non-profit organization will use the remaining $7 million and secure a loan to complete the project, Rogers said. Revenue generated from rent and other use of the building will cover the annual payments, he said.

Once the site is cleared, it will initially be used for parking for the revamped seven-story hotel, Rogers said. CityVest eventually wants to build another
residential/commercial building on the site

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