From the local news folks in Wiesbaden, the rest of the story is laid out.
The Wiesbadener Stadtentwicklungsgesellschaft mbH (SEG) and the Federal Agency for Real Estate Tasks (BImA) wrapped up their purchase deal for the old US-Army run American Arms Hotel on Frankfurter Strasse today.
For those who remember the place. It was in operation for roughly forty years (ending operation around a decade ago). If you PCS'ed into Wiesbaden, you probably spent your first month in the family quarters deal (two bedroom apartment). It was easy walking distance from the old BX, and just five minutes walking from downtown Wiesbaden. I stayed in the hotel on two occasions. The bar was some dark lounge operation, and it was next to impossible to find parking within the hotel area. The positive was the short walk to the shopping district.
The original deal for the sale? Well....back in 2015, they had this thing worked out, and then they had this emergency use situation with refugees. So they cranked up the use for about a year, and now....it's time for the next stage.
What'll happen? Basically, they will tear down the old hotel, and build a mix of subsidized and free-financed housing. There's also talk of a term to be used as a 'new quarter' of Wiesbaden.
In three years, you probably won't recognize the old block area.
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