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OAKDALE, MN-A group affiliated with First Hospitality Group is building a four-story, 116-room hotel at 4th and Inwood, next to the Prom Center. The hotel is near the heavily traveled interchange of Interstates 94, 694, and 494 and is close to several major employment centers, including the headquarters of 3M Co.

Besides 116 guest rooms, the hotel will also contain two meeting rooms, a boardroom, an exercise room, a pool area and a restaurant and lounge area. Corus Bank, a banking subsidiary of Chicago-based Corus Bankshares, agreed to provide a $6.9-million construction loan to finance acquisition and construction costs related to the project. The hotel will be the third project financed by Corus for entities affiliated with First Hospitality Group.

First Hospitality Group, based in Des Plaines, IL, is a hotel management firm that is focused on hospitality projects throughout the Midwest. Completion is planned for early in 2005, according to city officials.

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