Kunkel Group Reported to be assuming control over Convention Hotel Project
UPDATE: 2:10 PM Friday April 6, 2011
The Kunkel Group and Woodruff Hospitality have now jointly announced that the Kunkel Group will assume the duties of the contract between the Evansville Redevelopment Commission and Woodruff. All incentives will remain intact.
There are no details of the financing of the deal that have been made available.
UPDATE: 4:41 PM
Fox 7 news announces that they have confirmed that the City of Evansville is negotiating with another developer to take the project over.
3:51 PM Thursday May 5, 2011
City County Observer Mole #3 has confirmed with two sources that the financing for Woodruff Hospitality may be in jeopardy and that the Kunkel Group may be taking over the project for the Downtown Convention Hotel. It is not yet known whether the Kunkel Group will be continuing with the plan to develop a Hyatt Place, make yet another run at refurbishing the remainder of the Executive Inn, or seek another national brand.
This is a developing story so check back often.
UPDATE: 4:41 PM
Fox 7 news announces that they have confirmed that the City of Evansville is negotiating with another developer to take the project over.
another Weinzapfel legacy, ready, shoot, aim
Come on Kunkel Group save the big E!
why do I think John Dunn is gonna make a fortune on this at the city’s expense
This really is an outrageous development (no pun intended) ! After the fiasco with the Browning Group in Round # 1, did the Project Manager Kish even consider something like having the new bidders in Round # 2 post a bond or give the City some sort of assurance ??? How many dollars of City money were spent on Legal Fees to put together the “Woodruff Hospitality Incentive Package” which now appears to all be a waste ? We are now the laughing stock. I believe it was VenuWorks who said that the new Arena had “created a buzz” at a hospitality industry convention in Los Angeles. Not so much after two flame-outs in a row.
I want to proclaim a bold new approach to this convention hotel: ask someone to come to the table with their loan package ALREADY freakin’ approved, then start negotiating on incentives !
didja notice they waited for after the primary to let this out?
Officials are still holding back this info..but a few people did know about it almost 2 weeks ago…but the city cronies still aren’t telling the truth..they will have to one day.
I am no fan of the Weinzapfel administration, or building the arena during a down economy. Nevertheless, we have to make sure it is a success now for the good of the city. One of the things we are going to need to help insure its success is a national name hotel, so I hope they accomplish their goal. From what I have heard from the citizens of Evansville is parking will be the next issue the arena will face. The next administration will have to deal with this if it becomes an issue.
Conspiracy theories aside..people close to the deal are not surprised Woodruff didn’t come through…if the contractors who are owed money don’t get it from Woodruff I hope Kunkel or whomever takes over will pay these guys.
This deal stunk from day one.
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