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.