Representatives of City Centre Properties reported to the Evansville Redevelopment Commission that all of the financing needed to proceed with the McCurdy Hotel’s conversion to 90 luxury apartments is secured and will be closed no later than October 31, 2011.
The ERC proceeded to commit to extend the agreement once again to accommodate the schedule for a November 2011 start of construction. Mr. Scott told reporters in the hallway that the construction cycle will be 11 months. If all goes according to plan this would mean that 90 luxury apartments will be available in October 2012.
When asked by the City County Observer about the status of the unpaid real estate taxes City Center Properties responded that he was not certain and would have to check on that. When asked if the real estate tax payments would be made current prior to beginning of construction Mr. Scott responded that they would be. As of this morning the Vanderburgh County Assessors website still indicates that the real estate taxes on the McCurdy are in arrears by over $12,000.
This is good news, but I am not going to hold my breath waiting for construction to start next month.
… this place would best suit a bed-and-breakfast or a hotel because of the historic value. Rethink??
Put your money up
local government watchdog, C&P, reports that the Mensa members of the ERC just approved $ 960,000 in grants and bought parking lot # 2 (showing fiscal restraint by only paying $ 500,000 this time)–all for a “deal” which was closed four years ago ! Ever heard of “good money chasing bad” ? These goofballs in Indy have no money, and thus no staying power. Will bet everyone a beer that this does NOT start in November ! Any takers ?
http://www.courierpress.com/news/2011/sep/20/mccurdy-project-set-start-november/
Beerguy, first the City/ERC already gave away $600,000 for the Dunn parking lot. Now $500,000 more for another lot, or is this for space in the ONB parking garage? Why didn’t they buy and tear down the crumbling River House and use that lot for the “parking” needed by all the residents of the empty McCurdy Hotel building. The ERC is expert at tearing down hotels and making dirt lots (see the former Executive Inn rubble pile across from the skywalk to nowhere). The Administration’s rubber stamp ERC continues to make nonsensical decisions to the detriment of the City taxpayers. Any middle school junior achievement club has far more business sense than the City’s current ERC.
Joe Biden,why must you be so negative ? The ERC has just “saved” the citizens $ 100,000 on the deal they made on this second parking lot ! That’s the kind of change we can believe in ! (after they’ve spent all the dollars, change will be all we have ).
Stole this off a C&P poster with our Tokyo Rose aka Della:
in response to della:
it may have taken longer than expected, but success requires determination. will be great to see this historic old building brought back to life! also great to see the natterings of the naybobs proven wrong yet again. what on earth will they complain about now? next.
Della, don’t think you and the ERC should open up the OPUS 1 to celebrate yet another promise from the group that has done nothing for almost 4 years. Remember, the City paid Mr. Dunn over $600,000 in 2007 to be “sure this deal was going to happen.” Now, another $500,00 for more parking? It looks like Andrew Smith was spot on with his comments and concerns about this project.
http://www.courierpress.com/news/2007…
http://www.courierpress.com/news/2007/oct/09/mccurdy-deal-defended-mayor-developer-say-needed/
From the article on your link:
“Weinzapfel said the McCurdy renovation is a “great project” and a building that, because of the operational costs of sustaining it, was at risk of becoming vacant before the city and Scott-Hilliard-Kosene reached a deal to redevelop it. “That would (have been) the worst thing that could have happened,” he said.”
Looks like the risk of becoming vacant didn’t disappear. How long has it been since the worst thing actually happened?
Notice of executive session for September 27, 2011 followed by special annoucement open to the public.
I am starting to see now why each and everyone of you are in a constant state of emotional chaos. There is not a public official within your current administration that I have dealt with that is even remotely competent enough to be putting muti-million dollar deals together. Too many mistakes too many times. Could this be one of the reasons you have not been able to attract a builder with experience………
Jack, you have figured it out. Please feel free to share as much as you like.
Would you be interested in writing an article about your experiences with dealing with Evansville?
Taxpayers subsidizing river-front luxury apartments for the rich. As Daffy Duck would say: “Ha ha, that’s rich I’ll say. It is to laugh.”
What a slap in the face to those local citizens struggling to make ends meet during this recession/depression!
It is amazing how the Weinzapfel Administration scrambles to find funds for its big developer friends while the neighborhoods are starving for money to rehabilitate their housing stock.
This project is all about subsidizing people who do not need subsidies!
What’s with the parking lot fetish?
(cell phone ringing)
beerguy: beerguy hotline !
(sound of coins being deposited)
caller: Madoff !
beerguy: Bernie! How’s it hangin’ ?
Madoff: I want in on this McCurdy deal !
(loudspeaker in background: ” all inmates please return to . . . ”
Madoff: gotta go !
(call disconnects)
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