https://www.bizjournals.com/sananton..._news_headline
Quote:
|
The proposed Dream San Antonio hotel tower along the River Walk is expected to cost $50 million to $100 million to develop, said Jay Stein, CEO of Dream Hotel Group LLC.
|
That's a very wide range.
Quote:
The company is already contemplating more expansion in the Alamo City before the hotel breaks ground, Stein told me during an exclusive interview about the project.
“We are going to bring something that’s a little more sophisticated than typically what’s been in that market,” he said.
He also said the hotel will likely trigger additional downtown development as a result of those backing the site secured for the Dream San Antonio project.
|
Okay....
Quote:
Among the details Benz was not willing to disclose is the project's location. While at least one former San Antonio economic development official familiar with the plans believes the hotel is earmarked for a site along East Martin Street immediately west of the San Antonio River, Benz declined to confirm nor deny that location.
Meanwhile, the identity of the investor group backing the new hotel remains a secret. Benz did reveal that the people involved are local.
“They are strong believers in San Antonio,” he said.
|
This is weird. They released a rendering that showed exactly where the hotel will be but they refuse to confirm it or say who's investing.
Quote:
That group is still recruiting more investors. Benz said multiple groups have shown a strong interest.
Stein said it’s not unusual that Dream Hotel Group would begin work on such a project before it’s fully funded.
“This is quite typical of a lot of the deals that we do,” he said.
|
Okay....
Quote:
|
“That whole area is definitely going to change and evolve as the project gets built,” Benz said. “The local developers looked at this holistically and want to have the Dream hotel as the starting piece.”
|
What whole area? This whole deal keeps setting off my bull**** detector. I hate it when developers start talking about the aftereffects of projects that they haven't even taken the first step toward building, that they won't even confirm the location or investors, that isn't fully funded, that hasn't even been cleared to build by any city agencies.
