The project WILL be done.
Work actually is scheduled to begin today, Monday, December 11th.
After the bid was awarded, we had to get the city to prepare the contract with the successful bidder, give the required statutory notice to DEQ and A&H, and wait the obligatory 10 days after the contract was awarded to allow DEQ to inspect the site. Then, we had to wait on the bonding company to say grace of the city’s contract.
After all that was completed, we were scheduled to start work on December 4th but the legal department couldn’t track down the Mayor to sign the city contract until last week.
The city is planning on having some kind of press opportunity on Wednesday of this week, to let folks know that the work is being done. We’re not in charge of that one, since it’s the city announcing that they are spending federal grant money (the $800k EDI money that Thad was successful in securing back in 2004!).
With all these delays, we are, of course, several months behind schedule now and continue to be somewhat frustrated with the pace of progress. The environmental remediaton work will take 3-6 months, and the other pre-development work required (architectural and engineering drawings, selection of a contractor, financial closing) will likely take 3-4 months as well.
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At the present time, we’re still planning on using the name King Edward something or other. Probably something like “King Edward Hilton,” or “Hilton King Edward” (just substitute any other hotel chain name there). I know it’s not very original, but I think it’s important to keep “King Edward” in there somewhere.
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I apologize for not keeping folks a little more informed about what’s been going on. It is partially due to the fact that there has not been a lot of real progress with the actual construction work on the King Edward for the last few months; and partially due to personal reasons that have keep me away from the office for most of the last month. We will do better in January.
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We are still planning on a mixed-use project with luxury hotel, commercial office space (old parking garage), retail space on the first two floors and basement, and apartments on the top 5 or 6 floors. Condos are problematic at this time because they are not allowed with GO Zone financing. However, I haven’t given up on that option for a small number of units, if there is a definitive market and if we can carve them out of the financing on the rest of the project.
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If you have any additional comments, questions or suggestions, feel free to send me an email at .(JavaScript must be enabled to view this email address)
David Watkins a/k/a “Pops”
12-11-06
