208 replies to this topic

[cityboi]

citylife, on 22 November 2010 - 12:36 AM, said:

They will proceed forward only if they are able to get financing. What if they can't? Oh and I never said I wanted the project dead. I just don't feel like seeing taxpayer dollars (and yes a bond is that as the money has to come from somewhere) used to build private projects when this country has a deficit over one trillion dollars. I also am very suspicious about the developer's statements. We had a hotel project here that was supposed to have all the bells and whistles where a local developer like Mr. Kaplan claimed everything was fine and dandy when in fact it wasn't. Construction started in 2007, one story got built, and the project has been stalled ever since early 2008. I don't want to see the same happen in Greensboro with an eyesore sitting in the middle of downtown.

Well you know it may be a good thing this happened. If developers find other financing maybe the project will be less controversial.

[krazeeboi]

citylife, on 22 November 2010 - 12:36 AM, said:

I just don't feel like seeing taxpayer dollars (and yes a bond is that as the money has to come from somewhere) used to build private projects when this country has a deficit over one trillion dollars.

The bonds are intended to spur job creation in the private sector. That said, they do have a legitimate purpose particularly with our high unemployment rate.

[cityboi]

krazeeboi, on 22 November 2010 - 01:52 PM, said:

The bonds are intended to spur job creation in the private sector. That said, they do have a legitimate purpose particularly with our high unemployment rate.

Also many people misunderstand these bonds all together. This is not government money. Its private money and the government is only involved in the transaction. Private entities purchase and back the bonds.

[cityboi]

Hotel group continues plan with or with out stimulus. However democrats are putting a bill together that extends the American Recovery Reinvestment Act before republicans take over the house in January.

http://www.news-reco..._to_pursue_plan

Edited by cityboi, 23 November 2010 - 08:39 AM.

[cityboi]

Its great to see this project is moving forward with or without the help of the stimulus bond money. It looks like a similar project in downtown Durham which calls for a conversion of the CCB Tower into a luxury hotel hit a snag for the same reason. Developers of that project were also applying for the American Recovery Re-Investment Act bonds. No word on whether or not the developers of that project will still move forward. But at least we know the downtown Wyndham project in Greensboro will move forward

http://www.news-reco...own_but_not_out

[citylife]

Anybody know the current status of this project? Is it dead?

[cityboi]

citylife, on 21 April 2011 - 10:35 AM, said:

Anybody know the current status of this project? Is it dead?

Its not dead. The group is finding other ways to fund it since congress isn't passing another stimulus package

[cityboi]

Hotel backers are still planning for the 10-story downtown Wyndham hotel

http://www.news-reco...n_drawing_board

[cityboi]

According to the News & Record, the Elm Street Center group has severed ties with Bridget Chisholm and her Urban Hotel Group and will build the hotel on their own. They are currently working on the architecture and there has been one change. The project will now include its own parking deck for 150 vehicles. The hotel will sit atop the parking deck which will add two or three stories to the tower. This means the tower would be 12 or 13 stories tall. THe group will now have to finance this another way since they didn't meet the deadline for American Recovery stimulus dollars last year. Because the GOP controls, the house in Washington, we wont be seeing anymore stimulus money. There is no timetable yet for construction but the hotel backers feel confident construction could start within two years. This will depend a lot on how fast the economy recovers.

The Wyndham Greensboro would be the first Luxury hotel chain in the Triad.

Edited by cityboi, 21 August 2011 - 04:30 PM.