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Trion International, the company that was going to develop a five-star hotel at the old water slides site, has sold the land to Cressey Development Corp., which hopes to begin construction of the 400-room hotel in the fall. Scott Cressey said the Vancouver company is looking at some redesign of the interior of the building, including the retail space, but the exterior is basically the same as proposed by Trion and approved by council last year. The interior modifications will have to come to council for approval. "We hope to see some construction work in the fall and the building should be up in the next couple of years," Cressey said. He described the project as "more of a traditional hotel than a condo-hotel, in the style and class of the Chateau." However, suites in the building will be sold as condo-hotel units, as financing for an entire hotel project is rarely done anymore. Cressey said the rooms will be larger than those in the Chateau and will contain kitchens. Convention space is also part of the plan. The site, the last remaining undeveloped parcel in the original village, is currently used as a parking lot and contains the former water slides building.