Proposed Chinatown Hotel is Beautiful, but has it Stalled?

Last week a reader tipped us on a beautiful Chinatown hotel development called the Grand Imperial Hotel that was planned for the corner of Clark and Archer (which is toward the northeast portion of Chinatown). Here is a old video on the project:

As you can see it's a beautiful, ornate plan that would have been a unique and welcomed addition to the neighborhood. However, as far as we can tell this project has stalled. The developer, See Y. Wong, also has a building planned at 1327 S. Wabash that technically broke ground last summer but has been dormant for months now. As a result we're guessing that both projects have fallen onto hard times (big surprise, right???).

Will the Grand Imperial Hotel rise? We will have to simply wait and see...