Hotel plans continue for downtown Enid, Oklahoma

/Hotel plans continue for downtown Enid, Oklahoma

Hotel plans continue for downtown Enid, Oklahoma

|2016-12-25T23:00:02+00:00December 25th, 2016|

Dec. 26–Work continues toward the construction of a hotel in downtown Enid.

"The city and (Enid Regional Development Alliance) are actively working with the current developer to secure the franchise hotel flag," City Manager Jerald Gilbert said. "Once that is complete, the city will complete a development agreement with the current developer and update the downtown hotel timeline."

In October, Gilbert said once the franchise flag is secured, the project can continue forward.

Enid City Commission approved a term sheet in an agreement with Aston Management Co., a hotel ownership and management group in Oklahoma City, in June.

"If the property transfer has not closed by Dec. 12, 2016, then ERDA will have the option of terminating the master development agreement and other documents executed in connection therewith and awarding the hotel development rights and economic development incentives described herein to another developer," according to the term sheet.

Aston Management Co. is the third developer selected for the project.

Peachtree Hotel Group II LLC had a deadline of May 16 to close the property transfer, and the hotel was scheduled to open by Aug. 18, 2017. The city had an option to terminate the master development agreement if the contract was not completed by that date, according to the term sheet.

LodgeWell LLC, the original developer, proposed a downtown hotel and parking garage in November 2013. The developer was given until March 8, 2015, to begin construction — after missing a previous deadline, followed by an additional six months without building, while it sought financing for the $15 million project.

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