Page 22 - BusinessWest January 24, 2022

described it as an ‘iconic building’ in Springfield and a ‘once-in-a-lifetime opportunity.’ She said, ‘we need to figure out how to get this building.’” Mitta recalls having similar thoughts, and
noted that, while their initial interest was focused on the hotel, which they successfully bid on first, they eventually pursued the rest of the property as well, paying $17.5 million for both halves of the operation.
“ I guess you could say Tower Square continues to attract entrepreneurial investors to the property. And while the vision that those initial investors had was clearly bold, Dinesh and Vid’s vision to reposition the property is as bold, if not bolder.”
And they did so understanding that there would be much larger investments to come.
“We knew what we were getting into,” said Mitta, acknowledging that this comment covers considerable ground, meaning acknowledgement that large amounts of work needed to be done not only to get the Marriott flag back on the hotel, but to renovate the parking garage; repair and upgrade aging equipment, including the eleva- tors; and undertake other improvements to bring new tenants, and new vibrancy, to the property.
The rooftop area at Tower Square is one of many that have a new look.
Congratulations, Dinesh Patel!
Thank you for inspiring our future entrepreneurs and for your gracious support of our programs.
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Building Momentum
Elaborating, the two partners said they entered this joint venture with a plan of sorts, one that would take shape over the coming months and years.
That plan called for focusing less on traditional retail and more on creating something approach- ing a community, with pieces that would comple- ment one another, said Patel, adding that, even before he and Mitta had finalized their commit- ment to bid on the property, he was talking with Dexter Johnson, president and CEO of the YMCA
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