An anticipated deal for a hotel near Flagstaff Pulliam Airport has fallen through.
GreenTree Hospitality Group announced Wednesday they had canceled a purchase and sale agreement for 32 acres of city-owned land near the airport. The agreement was approved last summer and would have included the sale of the land at the corner of Pulliam Drive and John Wesley Powell Boulevard for $5.6 million. GreenTree would have built a hotel, restaurant, event center and corporate campus on the land, but rising construction and development costs made the project unfeasible.
The company already has a Flagstaff location, the GreenTree Inn on South Woodlands Village Boulevard. They are still looking to expand in northern Arizona, but with a project that is less expensive.
Visit the official GreenTree website for details.