For the first time in 30 years, Traverse City’s Park Place Hotel will have local owners. A group of Traverse City investors – led by Adam Miller, Chad Miller, Jason Granger, and Nathan Kessler – have an agreement to purchase the landmark hotel on State Street from Regency Midwest. The sale is expected to close this fall, with Traverse City commissioners approving the transfer of the hotel’s liquor licenses to the newly formed Park Place Hospitality LLC Monday.