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Kite should be booted from the project
I 100% agree. They will make their money on the construction side and now have no risk.
I never understood what a REIT company that specializes in neighborhood retail real estate was doing spearheading a major downtown convention hotel project. Seems far afield from their prime business.
They definitely bit off more than they could show, and now that fact is bare for the entire community to see.
John M.
+ 1
I didn’t get it either. How they qualified??? Just didn’t see it.
“Those who advocate for us to walk away will jeopardize our position …”
Mr Bode: Save your blame rant for when you get to a mirror. You people have been sitting around for 4 years making ZERO progress — as with everything else you touch.
Had you acted acted 3 years ago at the height of the covid scare you could have landed ridiculously low commercial financing and a construction contract for prices at world record lows amid a chicken little crisis. All you needed was an ounce of foresight and pint of courage. Every mayor in the modern history of our city would have seized that moment. Instead, you dawdled in fear.
And by the way …. is the Mayor going to ever speak on this or do you have him in a closet somewhere? Just curious.
All valid criticisms of Hogsett and all ignored by Shreve, who’s no better.
Shreve for the loss. Save your money goofy and Move!!!
It’s fine to be against it. But what is the alternative he’s proposing? We will lose conventions if we don’t expand the convention center. That much has been made clear to the city of Indianapolis.
Joe B.
Agreed, we must move forward. Makes no sense to stop and stagnate.
If I Indianapolis wants to be in the big leagues doing conventions, then we must
expand the convention center and build the hotel.
Had the IBJ officially come out as a Republican mouth piece?
It’s a business journal, not a liberal rag. You should stay with the IndyStar.
They both sides.
They play both sides
It seems that I have heard the Hogsett argument before. That’s right, these are the same talking points defending the city financing the United Airlines Hub.
Hilton Hotels could bail on this project just as easily, leaving Indy taxpayers holding the bag. There is a reason why developers are filling Hogsett’s campaign coffer.
I remember the the United Airlines Hub deal. The city and the state did
solid work winning the economic development plum of the decade.
Every city in the nation was trying to snag that project.
But Indianapolis prevailed.
It’s too bad the way everything turned out with that.
And Indianapolis must compete. So is the answer to do nothing or reevaluate several times, then proceed with a project even more costly that will require public support of private investment. Why not just continue with the project as stated as the city.
And oft-touted GOP plans to privatize everything, such as the Toll Road disaster, often turn sour and taxpayers stuck. For cities that are not experiencing explosive growth in population and income and revenue, projects are built only with pubic assumption of some projects or [direct or indirect] subsidies to the private sector.
What is Shreve’s plan other than defer and study? If that is his intended management protocol, the city will not be well served.
Toll Road disaster? That was a big win for the state. If you have ever driven I80 from Pittsburgh to Iowa you would see the best roads are through Indiana. When the original buyer went bankrupt Indiana got the road back and had already pocketed the money. That was essentially a cash deal all paid up front. BUT, this boondoggle is far from the same thing.
We could have made more if we’d just had the courage to raise the tolls ourselves. Same as Indy’s parking meter deal.
Privatization is just asset stripping.
And we didn’t get the road back.
https://www.in.gov/indot/about-indot/central-office/toll-road-oversight-information/
Here’s your analogy, Donald.
When you win the lottery, the big jackpot, you can quit your job.
You can either get the full jackpot over 30 years … or a lump sum, which is far less money but it’s up front.
Privatization is like winning the lottery and taking the lump sum … and blowing it. Eventually you’re out of money and have to go back to work.
If you’d have been patient and had the courage and smarts to just take the payments, you’d have never had to work another day in your life.
So let me get this strsught. The other hoteliers don’t want the new Hilton built because it will cause damage to the market here in Indy that the what a monopoly on? Now the other hotels are rallying behind the Republican candidate to voice their views? Shreve was very careful how he worded his comment. One minute he’s against the way the deal was made but also noted that if the deal goes through he’ll see it through and try to minimize any damage done to the city from the deal. Yet none that oppose the project has given an alternative to how to keep the largest conventions we have if we don’t build it. It’s already been determined thar the only way FFA, Gen Con and other larger conventions will sign on to coming or staying in Indy, is if the convention is expanded and the hotel is built. I’m confused at why the other hoteliers don’t see the impact and how they’re just sabotaging the economy in Indy? Yet Marriot and others has had years to come with a counter to build something just as big. Orlando and Atlanta both have built Signia hotels and through the city financing the projects. This is nothing new in the industry but new to Indy This is exactly how other cities finance huge projects and it’s why Indy lags behind in major developments. Nashville. Charlotte, Austin, Kansas City. Columbus Ohio all have surpassed indy. Indy needs bold progressive leaders that want to try to attract new talents and investments as well as keep homegrown talent. Sometimes being too conservative can make you lose out on growth