The owner of Hotel Petaluma has defaulted on his loan and is being sued the by the lender, prompting concern from some residents and business tenants that they have to move, according to an article in Thursday’s Press Democrat.
The historic hotel at the corner of East Washington and Kentucky streets was purchased by Marin developer Robert Miller in 2007. Miller defaulted on his mortgage with Union Bank in Marin County and the bank filed suit against Miller in February in Marin County Superior Court, according to the article.
On July 19, a Marin County judge removed Miller and appointed a receiver to handle the property and collect rents, pending further court decisions. Hearings are scheduled for October and December.
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The hotel has one room 104 residential units and about 14,000 square feet of retail space beneath.
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