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2014-07-04 at 17:05

No connection between hotel developer and event centre plans, developer says

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By tbnewswatch.com

THUNDER BAY -- The head developer of the waterfront hotel and condos wants to put to rest a long held rumour in Thunder Bay.

Gisele MacDonald said there is absolutely no connection between the hotel being built and a proposed event centre going ahead.

MacDonald is the founder of ReSolve Group, the company that is building both the hotel and condominiums at the waterfront, a $120-millon project.

She's aware the rumour has been circulating, but said nearly $4 million has already been spent on the four-star hotel and there's no guarantee the event centre will ever go ahead.

Work on the site services and underground parkade is expected to be wrapped up in October.

The hotel will start going up next February, with construction is expected to last 12 to 14 months.

MacDonald said neither the ReSolve Group or Delta Hotels and Resorts, which has 43 properties in Canada, would attach their name to the waterfront project in the first place if there were any conditions for it to move ahead.

Only 12 units remain on the market of the 102 condo suites originally up for grabs.

Occupancy for the first condo unit is slated for November.

(TBT News)

Tbnewswatch.com(13)

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Comments

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joey joe joe jr. shabadoo says:
"there is no absolutely no connection between the hotel being built and a proposed event centre"

yea, right.....ok.
7/4/2014 5:13:28 PM
tiredofit says:
Perhaps it's the way I read the following statement:

MacDonald said neither the ReSolve Group or Delta Hotels and Resorts, which has 43 properties in Canada, would attach their name to the project if it wasn't moving ahead.

So if it does go ahead, they will attach their name to the project? Are they going to cough up some cash? be the anchor support, ie: the Delta Dome or something along those lines?

Again, maybe it's just me... your thoughts?
7/4/2014 7:32:54 PM
unheard says:
my thought is you read it wrong and re-wrote it to fit your view
7/5/2014 3:08:15 PM
signman says:
Most citizens of Thunder Bay know why the developer is in no hurry to build the hotel at the Waterfront.

Mr Commisso is playing a game of chess with this pet project of his but the taxpayers are not buying it.

Why do you think he does not want to give us a direct vote on this White Elephant?

The taxpayers want a PLEBISCITE and nothing less!

7/4/2014 8:12:54 PM
Today1 says:
So why is this news?
7/4/2014 8:14:59 PM
Royalflush says:
Never admit to a rumour. Deny deny deny!
7/4/2014 10:04:23 PM
Westfortforever says:
4 million is nothing to the developer to walk away from if the promised arena is not built, they will still own the land. Look how much Hobbs has spent on the arena already in the hope they get funding. If you have people running a city from behind closed doors, so called rumors will start.
7/5/2014 1:59:25 PM
Commonsense says:
Perhaps ReSolve can explain then why they renegotiated their agreement with the city. Originally, the hotel was to be built before, or at the same time, as the hotel.
This was changed to allow the condos to be constructed first, and the time extended for completion of the hotel.
Other changes include NOT having commercial space on the ground floor of the condos. This concept is very common elsewhere, and results in the building not seeming so intrusive into a public area.
So, hotel construction should take place next year, when City will know where they stand with Event Centre funding. Perhaps the deferred building date fuels the rumours?
Meanwhile, Ontario has a debt of $269 BILLION, adding almost a billion a month to that debt, and paid $10.5 BILLION in interest last year.
Moody's Credit Rating Agency just downgraded Ontario's credit rating from stable to negative.
Should funding for a hockey arena be a priority, especially when every dollar will add to Ontario's debt?
7/5/2014 10:15:05 PM
joecat says:
its absolutely clear what the hotel developer means, ReSolve and Delta would never have even started the condo development if they were waiting on the event center.

Construction is nearly complete, and will no doubt be an excellent profit for them, an event center in the future would just be an added bonus.
7/6/2014 9:41:59 AM
Commonsense says:
@joecat-
Just to clarify your comment for others, one of the condos is nearing completion, with expected November occupancy, but the hotel has only short foundation walls at this point-far from completion.
7/6/2014 7:13:49 PM
ou812 says:
I wouldn't be upset if there was a connection!

Event Centre and Hotel a win, win for the future of Thunder Bay
7/6/2014 10:37:49 PM
Geezer1 says:
The City has allowed this developer to keep all options open. By merely installing the footings and the below-grade garage structure they can and will change the structure from a hotel to more condo units if and when the event centre is dead for lack of financing. Prepare for more housing on the waterfront parkland.
7/7/2014 10:14:45 AM
The Beaver..... says:
So now that we know that there is no connection between the Hotel and the Event Center (grins) can we move the thing to Inova Park.
7/7/2014 11:03:37 AM
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