Farmers and Mechanics Bank will become a hotel

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Downtown Minneapolis’s historic Farmers and Mechanics Bank building is becoming a four-star hotel.

As Ellen Gabler reports in The Business Journal, the 123-year-old landmark at Sixth and Marquette will be redeveloped by Ryan Companies and sold to HEI Hospitality, parent company of Westin Hotels. The 214-room hotel will feature a 100- to 165-seat restaurant, housed in the vaulted bank lobby. Bankers’ offices will become private dining rooms.

The property has been scouted by several developers since U.S. Bank closed its operations there in 2002.