Last Friday brought the much-anticipated foreclosure auction of the Ridpath Hotel’s “Y” building — and no one bought it. The once-iconic downtown hotel had descended into squalor in the last decade, before being split up between nearly a dozen property owners, and finally closing.
Local small-time developer Stephen Antonietti has promised that he has an investment group ready to turn the buildings into one of Spokane’s largest entertainment complex, and hopes that, now that the auction has failed, his lower offer will be accepted. If not, “it will go to somebody else.”
There are at least two other unnamed possibilities. City council members Mike Allen, Ben Stuckart, and Steve Salvatori and Downtown Spokane Partnership President Mike Tedesco, have summoned three interested parties to a July 12 meeting.
But, as of now, those parties still can't be named.