[4] At that time Mayor Pete Kinch described the Monte Cristo Hotel as a "bellwether of how we as a community are dealing with" the problem of downtown decline.

[6] On August 25, 1993 the Everett City Council approved spending US$81,590 (equivalent to $172,089 in 2023) per year to lease 8,867 square feet (823.8 m2) of space in the building, including the grand lobby, mezzanine and ballroom areas.

[7] By November of that year the building had been re–roofed, new sidewalks poured, new interior stairs built and exterior restoration started as part of a $6.8 million construction project.

The Washington Community Renewal Association invested $3M and Lojis Corp. secured $3.8M in equity by selling $6.7M in federal historic and low income housing tax credits.

[8][9] At a three-day grand reopening on June 10–12, 1994 Mayor Ed Hansen lauded Lojis president David Mandley for persevering in getting the project organized and skill in the historical restoration of the buildings exterior and common spaces.

[9] The guest rooms had been converted to 69 residential units which as a condition of using the tax credits must be rented to tenants with an income 60% or less of the area's median.

[10] In 1997 the building was again serving as a civic center when a public forum for candidates for judge on the county superior court was held there.