make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

City Council grants extension for Convention Center hotel developer

READ MORE:

WILMINGTON, NC (WWAY) -- Wilmington City Council has granted another extension for the company developing a hotel to be built next to the Wilmington Convention Center.

Harmony Hospitality requested to extend its agreement at Monday's City Council meeting.

The agreement, which ran out April 30, has been extended 90 days to provide more time for details to be worked out, including the hotel's design and Harmony's land purchase agreement for an Embassy Suites Hotel with the city, as well as financing.

The proposed Embassy Suites Hotel will have 186 rooms and stand about as tall as the Hilton Wilmington Riverside a few blocks away. The hotel is estimated to have a $33.6 million price tag, according to city leaders.

This is the third time City Council has granted Harmony an extension on the agreement.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Dumb question

Why is the Convention Center hotel costing the city 66% MORE money in the budget than the last budget?

http://www.wilmingtonnc.gov/Portals/0/documents/Finance/Budget/FY%2013-1...

Pg 79
Budget FY 11-12 Actual = $86,118
Budget FY 13-14 adjusted = $143,792

Vog

They can make all the announcements they want ......

..... but I don't see this thing ever getting done. I've said it before and I'll say it again: Who in their right mind would invest in a hotel whose potential revenue base is a failed convention center? That's a no-brainer.

On another note: It's about time Harmony and City Council manned up and just stated that so far, no one wants to invest, instead of coming up with all of these horse-pucky excuses that no one believes.

Just another example of City Council not even having a clue as to what reality even is anymore.

Extension

The developers claim they need more time to clear the Government's "red tape." They are trying to convince Chinese investors that spending $500,000.00 each on a terrible investment is worth an expiated green card. I have this feeling that investor "cold feet" is more of a problem than "red tape." The Convention Center was and will continue to be a bad idea that has become a huge drain of resources that are needed to fund things that are actually good for New Hanover County. "Saffo's Folly" aka the Wilmington Convention Center is a classic example of Government Officials ignoring what is right and the will of the people to get their own private playpens under the guise of it being a "great investment." I hope the voters remember this folly when the next election rolls around............

90 days

I question whether this thing will get built as this is the 4th attempt.
And as of right now I'm not sure if the problem is lack of investor monies under the EB5 program or design issues.

This is the second (third?) extension?
No more extensions for Mr Shoninger/Harmony/Embassey

As desperate as this city is for a hotel attached to the Convention Center, I openly question if their desperation has clouded their judgement.

Vog

Attached???

Why is the city so desperate for an attached hotel for the CC? One of the selling points/lies told prior to the CC being built was economic benefit for existing businesses. The Hilton is a few blocks away. Why can't the folks having conventions stay there. If the people having conventions require an attached hotel and restaurant, then there is zero economic benefit for other area businesses. If this hotel by some miracle does get built, and the CC is still a failure, what will be blamed then?

Oh Rick......

Shame on you for saying this:
"If this hotel by some miracle does get built, and the CC is still a failure, what will be blamed then?"

Here's the kicker today as we speak there is NO room shortage down town and we still have two(?) hotels under construction.
Where is the INCREASED room demand coming from?

Plain fact is that someone thought a CC was "the way to go"
"We should be like the big cities"
"We can attract national conventions"

Now that they see it's not working as well as they thought who is going to step up and admit failure?
Ms EAton and SMG? Oh puh-lease - they're laughing all the way to the bank. "Oh you can't blame us we HAD to have that hotel right from the start as planned. The CC failed because the hotel wasn't built in time."
The Mayor and council:
"The Hotel failed because the ballpark failed - when the ball park failed all economic development down town was put at risk. It's the voters fault."
Wilmington is growing. Some want it to happen faster others want a more planned and steady pace of growth. But EVERYONE seems to want to be like somebody else. "Lets be Charlotte, lets be Raleigh - no lets be Mayberry."

All the while Hinnant, Eaton, WDI, SMG, DBA - are all laughing their way to the bank after having extorted millions from the city over a decade.

It sickens me
Vog

Where?

"Where is the INCREASED room demand coming from?"
The demand is coming from the Mayor and Council. They refuse to understand the concept that there are only so many people that will stay in a downtown hotel/motel each year. If they stay in 2 hotels or 5 hotels, it WILL NOT CHANGE the amount of room occupancy taxes collected. The build it and they will come fallacy is still alive and well in City Hall. ALL OF THESE COUNCIL MEMBERS NEED TO BE REPLACED!

Other than financing

what details have to be worked out?

Given some of Mr. Shoninger's activities outside North Carolina, I'm not certain he can get it financed unless he turns to China or the City.

In desperation, I wonder if Mayor Puff will consider city financing without a bond referendum?

I don't believe they can

Unless the city retains ownership of the hotel.
Funny but I don't think this is the free market at work either.
Shoninger clearly says the problem is the Feds and the EB5 delays
All the other stuff (design etc) seem to be "fluff".

I wonder how much longer Council will wait.....

Vog

Vog

they can do it. Have the city hold a first deed of trust with interest and principal forgiven, that means not paid, annually.

Another "Stick it to the Taxpayers"

Well

was the second, or was it the third, extension approved?

What reasons did they give this time around for the need for more time?

Your Answer in Laymans Terms:

"What reasons did they give this time around for the need for more time?" (Unquote)

Your Answer in Laymans Terms:
In todays world (or Wilmington's World), when you have multiple incompetent individuals, that aren't savvy in the field of work in which they are assigned, whether by interview, or election rights, and they try to perform miracles from a whole pile of "Nothin'"...that's just what you get...a Circus of Stars that are professional at "A Whole Pile of Nothin'"! Better known as (AWPN's)
Make sense? Yes...and No!
The Skyway Bridge went down the turlet...this project will be soon to follow...but makes a good laugh to read about in the news occasionally.
No need for anyone to get their feathers ruffled, just sit back and watch the tyrants perform lobotomies on each other...either over the Yen...or many/many Ben Franklin's.
There's your answer...in laymans terms :-)

Tom

"has been extended 90 days to provide more time for details to be worked out, including the hotel's design and Harmony's land purchase agreement for an Embassy Suites Hotel with the city, as well as financing."

This is the third extension.
Initial proposal then 3 extensions.
And the litany of reasons given tells me there's some serious problems but I could be wrong.
I say no more extensions

Vog