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For many years, the rectangular building on the east side of 300 West between 300 and 400 South looked like an advertisement for a plywood company. Construction of the intended apartments never got beyond the basic stage.

But on Monday, Aug. 7, at 10:30 a.m. on the east side of nearby Pioneer Park, a ceremony will be held heralding the renovation of the building into a 118-room Residence Inn.Scheduled to participate in the "groundbreaking" will be Mayor Deedee Corradini, the Salt Lake City Council, the Redevelopment Agency of Salt Lake City, Overland Development Corp., and its partners, SunAmerica Inc., Glen Overton and First Security Bank.

Franchised through the Marriott Corp., the hotel will be independently owned by Renaissance Lodging Associates Ltd. Ken Holman, Overland president, said the building is ideally suited for conversion from apartments to a hotel because it is almost identical to a Residence Inn prototype.

Each suite will have a full kitchen, living room, bedroom and bathroom. There also will be conference rooms, a covered parking garage, a swimming pool, sport court and exercise facility.

Development of the Residence Inn is the second phase of a four-phase development for Block 49.