The Trenton Times published the following article on October 28, 2013. To read the full article, click here.
Bankruptcy judge approves two-track auction for Lafayette Yard Hotel in Trenton
By Jenna Pizzi/The Times of Trenton
on October 28, 2013 at 6:23 PM, updated October 28, 2013 at 6:24 PMTRENTON — A bankruptcy court judge has officially approved a two-track bidding process to sell the former Trenton Marriott hotel at auction next month.
The hotel board, the Lafayette Yard Community Development Corp., may hold the auction on Nov. 25 at 10 a.m., Judge Michael Kaplan ruled.
Kaplan ordered the bidding follow two tracks: one for bidders who would continue operating the building as a hotel, and another for those who are considering a different use. Bidders who do not want to operate the building as a hotel will be required to disclose their intended use.
Attorneys for the board said last week that all of the interested buyers who have come forward so far intend to use the property as a hotel.