The Update on the Statler Hilton Is That There Is No Update on the Statler Hilton, Sorry
On Wednesday the council will get an update from Karl Zavitkovsky, head of the Office of Economic Development, about projects that may get an infusion of foreign cash via the City of Dallas Regional Center, which we told you about back in October. (Long story short: Foreign investors who sink at least $1 million into U.S. soil and create at least 10 full-time jobs for U.S. citizens or legal permanent residents get two-year green cards that will lead, most likely, to permanent residency.)
Rudy Bush noticed that among the seven projects in the "pipeline" is one labeled "hotel redevelopment," and he wondered: Could that be the Statler Hilton?
I'll just issue the spoiler now: No.
"The Statler's way too complicated for this, and this is money that has to be paid back," Zavitkovsky tells Unfair Park " So if the Statler were to get underwritten and there was some public support, it would all depend on how financing came together. Because the Regional Center does work well for hotels because it generates employment."
So, which hotel we talking about then? He won't say -- not Wednesday, and most likely not till some time in June. But "I don't think it'd be a scoop of huge magnitude," Zavitkovsky says. "Probably not worth a Pulitzer." Dang.
But since we're on the subject, I figured I call the owners' local rep, Plano attorney Tom Keen, and see if there was any movement on that Warwick International Hotels joint venture about which we wrote in December.
"I don't know of any progression that's been made" since then, he just told me. "I haven't heard much form the Warwick group in a while. It's been way too long. We are currently looking at a couple of offers from other people, so that's back on the table, which is good news. We're currently doing repairs at the hotel to make sure it complies with code, and that's ongoing, but it's not a renovation. Yet."
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