Dear SPicy:

What do you do when your project stalls out after spending large amounts of money on a model unit? What do you do when the "community process" delays your entry into the market – causing you to catch the bad side of the condo bubble?

Please let me know,

Eraseable Penfield

Dear Eraseable Penfield:

You add a Hyatt hotel.  Believe it or not – SPicy has friends.  Friends who make enough money to dream of champagne wishes, caviar dreams, and penthouse views of Minnesota's Capital City.

One of SPicy's friends got an interesting letter in the mail yesterday – and shared the info.

It seems that the developers of the much-heralded Penfield have decided the best way to sell enough condos to secure financing to start construction is to reduce the number of condos.

The developers have decided to add a Hyatt Hotel to the project. 

SPicy loves the idea of a new hotel – and more importantly – a new hotel bar to cruise.

But the biggest question is – WDBST (what does Bob Spaulding think)

Bob, the big-thinking city-dreaming member of the planning commission was so proud of "his work" on the Penfield that it takes little to get him to talk about how this is the example for every development.

SPicy wonders if Bob likes the Hyatt – or has even stayed at one in his urban planning travels. Whatever the case SPicy's just glad its not a Hilton, there's plenty of spoiled brats around here riding the family name already.

And remember, you read it first at SaintPaulicy.com.