Local businessmen buy Townhouse in downtown Grand Forks
Two local businessmen have partnered to purchase the Townhouse in downtown Grand Forks.
Kevin Ritterman and Craig Tweten purchased the hotel at 710 First Ave. N. for $2,225,000 under the name Northern Pacific, according paperwork filed Nov. 2 with Grand Forks County.
Ritterman is the CEO for Dakota Commercial, a real estate company in Grand Forks. Tweten founded Community Contractors Inc., which is a construction management and general contracting business in Grand Forks.
Formerly known as the Red Roof Inn, the Townhouse was built in 1975 and previously was owned by IDA Hospitality of Winnipeg. The company bought the hotel in 2013, when it was called the GuestHouse TownHouse.
The hotel left the Red Roof Inn chain in September.
Tweten and Ritterman had been in talks to buy property from IDA that was near the hotel, but plans evolved into an agreement to purchase the 103-room facility, Ritterman said.
The two will proceed with a project to renovate rooms in the hotel, as well as plans for capital improvements. They also will continue to rent space to the hotel’s restaurant, Muddy Rivers Bar and Grill.