Hotel Indigo developers miss deadline with the City of Wilmington
Reported by Laura Sinacori - bio|email Posted by Debra Worley - email Updated by Kristy Ondo - email
WILMINGTON, NC (WECT) - Developers of a downtown Wilmington hotel missed their deadline with the city six times, and at least one Wimington City Council member said it's time to find another developer.
"The fact that they keep coming back and they still don't have the documents that they know they have to get makes me fearful that if we were to go ahead and close on the property, we still a year from now would not have a hotel," said councilwoman Laura Padgett. "They have lost that credibility."
The Wilmington River Group had a deal to buy a piece of property next to the new convention center to build a Hotel Indigo. Construction of the hotel was expected to begin in August, but has been delayed several times.
Wilmington mayor Bill Saffo still has hope for the Wilmington River Group despite six missed deadlines.
"From my position, if they can come up with an irrevocable letter of credit I would look favorably to moving forward because they have demonstrated they are trying," said Saffo.
The attorney for the developer group said they won't stop trying to satisfy the city's requirements, even though they may have run out of time.
"We're not going to cut and run," said J.C. Hearne. "My clients have a considerable amount of money invested in this project, over $1 million dollars, and we don't think it's appropriate to cut and run.
City Attorney Tom Pollard said that city has the option of terminating the deal and searching for another developer. City officials said those discussions will take place in October.