May 31–Evansville Mayor Lloyd Winnecke said private financing and a franchise agreement for the new Downtown convention hotel are expected to be settled this month, with visible site work starting this summer.
HCW of Branson, Mo., is developing the 257-room convention hotel, which is to be connected to the Old National Events Plaza and the Ford Center. The $71.3-million project also includes an apartment tower, parking and street improvements.
The hotel is to be a Hilton DoubleTree, but Dunn Hospitality Group of Evansville filed an objection to the licensing application with the Hilton chain, saying the planned DoubleTree would pull business from existing Hilton properties in this area.
HCW officials, who were in Evansville last week, told Winnecke they expect Hilton will make a decision on that issue in a few days. Winnecke said HCW has looked at potential backup franchises for the new hotel, but company officials are “optimistic it will have a Hilton flag.”
Once the franchise issue is settled, other hurdles to get the hotel project started can be cleared, Winnecke said. The development project will utilize a $20 million city bond, with the remainder of financing from HCW and Old National Bank.
“The franchise agreement is the one thing they need before they can close on their private sector funding, before Old National infuses its equity and before we go to the bond market,” Winnecke said. “All of that should start to happen during June.”
HCW has filed building plans with the state, and those are waiting consideration and approval. Winnecke said the current schedule would mean “site work” in July and some actual construction in August.
City officials have said fall 2015 is the project’s tentative completion time frame. The Indiana Association of Cities and Towns and the General Association of General Baptists have committed to conduct meetings in Evansville once the hotel is open.
