Is White Lodging backing Out of the Harrison Square Hotel?
Posted by John B. Kalb - 11/16/08 @ 7:56 pm - Filed Under City Council, Local Politics
See post and todays update at Fort Wayne News.
An addition from Jeff Pruitt:
Everyone should go read the post at Fort Wayne News as it includes an interesting response from White Lodging. The good news is they maintain that they are moving forward with the project. The bad news is that they admit they are having financing trouble and may not get their financing until Spring (which sounded like a new arbitrary date to me).
There were a number of comments on the original FWN post that sounded as if they wanted to expedite the demise of this hotel project. I cannot reiterate enough how bad that would actually be. The hotel is the linchpin for the entire Harrison Square project - if it fails then everything crumbles with it. And that means the taxpayers will be stuck paying off the bonds that our local government guaranteed with property tax dollars.
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6 Responses to “Is White Lodging backing Out of the Harrison Square Hotel?”
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Only one financing path available? Doesn’t sound good…
Not surprised…again.
Called it in advance this is where we are now:
Check your archives dated below:
Bobett Kelley on May 2nd, 2008 10:21 pm.
Future headlines:
Billionaire Dean White and his White Lodging Services won approval for $(x) million public subsidy for his (x)amount of hotel-rooms, J.W. Marriott Hotel located next to the Harrison Square Center was approved at last night’s
Fort Wayne city council meeting.
In a perfect world, cities would not subsidize sports franchises, hotels or places to eat.
However, Fort Wayne does not live in this world and we must reflect on the consequences of that fact.
And now we must cut the fat from the pork.
Just another Truth & Consequence:
Vote no to tax abatements.
June 10th date for public hearing on tax abatement for the Harrison Square hotel:
Local government cannot “create” jobs or “opportunities”, other than by artificially influencing a situation that always leads to a collapse and consumes more resources than offers “benefits.” If a situation is not economical, throwing money at it won’t change that equation, it just encourages an unstable situation to grow.
Posted by: Bobett Kelley | May 28, 2008 at 11:37 PM
Jeff,
It would be best to let the hotel die and hope that something profitable takes it’s place. HS is going to soak up property tax dollars, that’s why we opposed the project. Our goal now should be to cut our losses. If the hotel gets built, it will soak up more tax dollars in subsidies than it will generate.
Can we pledge and abide that the H.S. hotel is a
in the scrape?
We could cut the buildings of downtown condos & a portion of future parking in the heap too!
Just a thought.