Millstone Holdings outlines $30M hotel renovation plans to Trenton City Council

In a special meeting on July 29, 2025, the Trenton City Council engaged in a detailed discussion regarding the proposed renovation of a downtown hotel, which aims to transform the property into a modern facility with approximately 150 rooms. The developers indicated that the project could take around nine to ten months to complete, with hopes of opening by July 2026, contingent on swift approval and action.

Council members expressed concerns about the project's funding and financial viability. The developers outlined a financing plan that includes equity from Millstone Holdings LLC, construction loans, and potential tax incentives. However, questions arose regarding the lack of concrete funding commitments at this early stage. Council Vice President and other members emphasized the importance of having proof of funding before moving forward, citing past experiences with developers who failed to deliver on promises.

The developers acknowledged the need for a comprehensive assessment of the property to determine the exact costs involved in the renovation. They noted that while they have access to funding and a strong track record in real estate development, they have not yet secured formal commitments from lenders. The conversation highlighted the necessity for transparency and accountability in the development process, as council members seek assurance that the project will not only commence but also succeed.

As the meeting concluded, council members reiterated their commitment to ensuring that any development in Trenton is backed by solid financial foundations. The outcome of this proposal could significantly impact the revitalization of downtown Trenton, making it crucial for the developers to provide the necessary financial documentation and demonstrate their capability to deliver on their promises. The council's next steps will involve further scrutiny of the proposal and continued dialogue with the developers to ensure the project's feasibility and alignment with community goals.