WILMINGTON, NC (NEWS RELEASE) – This week, the city issued a new call for privately-funded hotel proposals for the downtown Convention Center.
The proposal deadline is April 11 and stipulates that interested developers provide plans for a high-end hotel with a minimum of 200 rooms.
The proposal also stipulates that developers commit to providing a $1 million surety and show that they have sufficient financial resources to complete the project and be able to start in six months.
Previous proposals have been hampered by lack of financing during the economic downturn. The full proposal is posted the city’s website – here is the direct link: http://www.wilmingtonnc.gov/finance/current_bids.aspx.