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Downtown Hospitality missed an earlier deadline for closing on the deal and the city last month said that if construction hadn't begun by Oct. 9, the developer would be in default.
Hentges said if the development group does Nike Roshe Run On Feet
court to do so.
Hotel group in default
Hentges said that with the default, Downtown Hospitality no longer has exclusive rights and the city could begin talks with other groups interested in building a downtown hotel. For this construction season, only Downtown Hospitality would still have a chance of beginning work on a hotel.
find the additional money it needs, it would need to come back before the City Council to get re Nike Roshe Run 2 Red approved for the project.
The city had promised a variety of financial incentives to cover the cost of site preparation and other construction related costs for a planned nine story hotel next to the Civic Center. None of that money has been spent by the city or given to the developers. Downtown Hospitality also had exclusive rights to prepare a hotel plan for the site.
"If they are successful, fine," Hentges said. "If not, there are three other people willing to work with the city on this project and we'll talk to them."
The city had turned over the deed for the property to Downtown Hospitality, but the deed has not been filed. Hentges said if the group can't put a deal together, the city would expect to get the deed back or would go to Roshe Run Junior Size 5
"If it's going to be started before winter, work would need to begin in the next 30 days. Obviously, no (new development group) is going to be able to do anything in the next 30 days. If (Downtown Hospitality) is ready in the next 30 days, they can come back to the council Nike Roshe Floral Womens
City Manager Pat Hentges met with officials from Downtown Hospitality LLC last week and they told him they have found an additional investor to cover increases in construction costs and that they still intend to begin construction this fall.
Developers of a proposed downtown hotel missed their latest deadline to begin work this week and are in default as far as Mankato officials are concerned.
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