The article doesn't have much detail, but I believe that they got hosed by the pandemic. Looking at their permit history, all their grand plans for rebuilding and remodeling started in late 2019.

Then whoops, couple years of pandemic.

Then whoops, interest rates are through the roof and obtaining financing just got a whole lot more expensive.

It makes me wonder if they're doing what the Eagle's Lodge people are doing; just letting their property sit in a derelict state while waiting for the rates to come down.