How likely is the Grove Park Inn to follow-through on the two proposed construction projects?
This question is the subject of intense speculation. Sammons Enterprises, the parent company of GPI, has made major investments in expanding and upgrading the hotel’s facilities — including a world-class spa. It is a well-known fact among GPI staff that the hotel has yet to meet Sammons’ return-on-investment (ROI) targets. If Sammons buys the Pack Square lot for $656,000 (the city’s asking price), presumably Sammons could turn around and sell the lot for its true market value — yielding a huge profit for the company, and depriving the city of this revenue. If such a secondary sale occurred, the city could be facing a new corporate owner who may not accept the city’s design guidelines. Would the city engage in expensive litigation to uphold the guidelines? Probably not. • What can I do? Let the members of City Council know that you expect a more open and public process to determine the fate of Pack Square. And let them know you intend to hold them accountable at the ballot box if they
Related Questions
- Can the City disclose bidder’s lists/lists of plan holders for municipal projects to contractors, construction companies, agencies or other persons on request?
- What impact will the proposed streetcar have on corridors where there is currently design and construction projects that are underway?
- Are there better proposals for Pack Square than the Grove Park Inn construction project?
