Hotel deal alive or dead

[James Younger]

My feeling is it would not matter much who was to building it. Can it be built?
With the current financial crisis and other concerns. A hotel is needed to make the convention center work, I think that is a given.
Yes a building permit was taken out.
Hearsay says that the drawings are just off a desk. With two bedroom 4000 square foot apartments with kitchens on top and below one bedroom with kitchens. People who have seen the plans say they look more like condos than a hotel.
Will this project start?

[Soda]

man, you gotta clarify that post a little bit John...

[Blue]

James I'm not sure where you received your information about the sizes, but it is seems incorrect. 2 bedrooms 4000sqft.? Not a chance. Maybe one penthouse suite, but not even close to 4000sqft. The last info in the Daily News was calling for 400-700sqft hotel rooms and suites if I remember correctly, which is standard in the hotel industry.

[Smokey©]

Most of the plans for the hotel have been to have hotel suites on the first few floors with the upper floors being condos and a couple penthouse suites on the top two floors.

[James Younger]

This just off the Mayors lips
The development company has been given notice that when the new council sits in December they will vote on giving this company thirty days to comply with their contract, or it is void. Lands go back to city, and DCCs could still be outstanding.

[Rickj]

This just off the Mayors lips
The development company has been given notice that when the new council sits in December they will vote on giving this company thirty days to comply with their contract, or it is void. Lands go back to city, and DCCs could still be outstanding.

First of all... if the Mayor said that then he just broke "In Camera" confidence as it is a legal issue.

Secondly... DCC's go with the land so if the land goes back then the DCC's dont exist.

Lastly, James' first post is incorrect. They applied for a development permit not a building permit.

[James Younger]

Development permit is correct,not building permit.
The mayor said that if the deal falls threw they will owe DCCs. I don`t know anything about the contract between them. It will be in the papers tomorrow.
Looks like a wayout for current council.
The problem is the deal looks like it is in the toilet.
I would love to be wrong on this one. If the deal collapses that is when it will hit the fan. No one will want to build a hotel, that is what scares me. We could not get a hotel under normal economic conditions, when banks were happy to lend money. What about now with an economic crisis looming?
We need a hotel there.

[James Younger]

In regards to DCCs
Ron Bolin is quoted in the paper today as saying"They have been in default since May 31. We could get back the land and costs and fees. And we get back Maffeo-Sutton Park."
The reason I am quoting Ron is the mayor might have said " costs and fees" and I miss took it for DCCs.

[Smokey©]

Gary Korpan was referring to fees paid.

[James Younger]

Thank you