After delays, Ivy project nearly ready

The long-awaited opening of the Ivy Hotel + Residences will involve a little longer wait than originally planned, but work on the luxury hotel and condominium project is drawing to a close.

The hotel portion of the $100 million development near the Minneapolis Convention Center now is expected to be open the week of Feb. 18, according to developer Jeff Laux. Construction delays pushed back the opening by about two months.

The hotel is going through a final stage where minor details, such as scratched woodwork or marked-up walls, get fixed, Laux said.

The delay hasn't resulted in any canceled reservations: New hotels typically build in a cushion of time around their projected completion dates and don't book business until they are sure to be open.

But Laux said he can sympathize with folks disappointed by the delay. His son had planned to have his wedding and reception there in January but was forced to reschedule to March.

"I sat down with him and his fiancée and said they could either change the date or the venue. They changed the date, and they did it with smiles on their faces," he said.

Laux and business partner Gary Benson acquired the historic Ivy Tower in 2000. The tower and a new 19-story building are the hotel portion of the development. A new 26-story building houses the condo units.

The 136-room hotel will be part of Starwood Hotel and Resorts' Luxury Collection -- the chain's top brand -- and one of only 10 to have that designation in the United States. Four suites in the old tower take an entire floor each. Amenities include a fine-dining restaurant and a 17,000-square-foot spa and health club.

All but five of the 92 condo units, most of them priced above $1 million, have been sold. Laux said the condos are being finished one by one. The first units are to be ready in six to eight weeks.

Susan Feyder • 612-673-1723