WINONA, Minn. – The downtown Exchange Building could be converted and operational as an extended-stay hotel in 14 months, according to developer Peter Shortridge. In an interview with the Winona Post, Shortridge called the 120-year-old building “rock solid.” Even so, he said, new electrical, heating, air conditioning and plumbing are needed. Shortridge, who has restored several historic downtown buildings, has a tendency to be overly optimistic with timelines, but he has consistently completed his restoration projects. Shortridge and a Northfield hospitality and investment company bought the four-st9ry Exchange Building in October for $1.3 million, which real estate people regard as a bargain. Shortridge’s conversion and restoration is hinged on qualifying for state historic restoration grants.
Rich design detail. The Grain and Lumber Exchange Building was inducted into the National Register of Historic Places in 1977. The Renaissance Revival architecture was the rage in the 1890s and early 1900s. At 51 East Fourth Street.