Monrovia City Manager Scott Ochoa is doubtful about the future of the Aztec Hotel. He writes:
"[T]he very historical significance of the structure [the Aztec Hotel] contributes to the high cost of renovation which makes the situation potentially unsalvageable. As a hotel, the economics of the property are challenging to say the least; as any other adaptive reuse, the significant rehab cost erodes the market value. Still, there are elements in the building that could inspire a long-term investor's imagination and vision. We shall see."
Source: http://goo.gl/gpPOH
- Brad Haugaard
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