[robk1982]

Finally some news (kind of) on the Riverfront Character Inn.


http://www.mlive.com/flintjournal/in..._studying.html

Crim officials still studying deal to buy Character Inn
by Ron Fonger | The Flint Journal
Monday December 01, 2008, 7:00 AM

FLINT, Michigan -- Seven months after signing a purchase agreement to buy the former Hyatt Regency Hotel, Crim Fitness Foundation officials still haven't sealed the deal and can't say for certain what will happen to the troubled property.

Gerald S. Myers, chief executive officer of the Crim Fitness Foundation, said the nonprofit group still has an option to purchase the 16-story building but has not reached a final decision based on its feasibility study.

"The economy is a scary thing for everyone. It's no different for what we're trying to do," Myers said of the deal. "We don't want to move in and not have it be sustainable."

The foundation hopes to make a final decision within the next 60 days -- far in advance of its year-long option to purchase, according to Myers.

It has promoted a multi-purpose use for the building, including convention space, hotel services, retail and a "center of excellence in the area of health and fitness."

Meanwhile, the president and founder of the Institute in Basic Life Principles, which owns the building, said he believes the sale will go through as planned.

"I hope and pray nothing goes wrong," said Bill Gothard, leader of the IBLP, which operated the building as the Character Inn before the sale.

The institute operated programs and hosted some events at the inn, which forbid smoking, alcohol and music with a rock beat.

Gothard said he's had to turn away at least two other offers for the building since signing the purchase agreement with the Crim, including one for more money.

Neither side in the potential sale has disclosed a purchase price or other details of the purchase agreement.

"I'd be surprised if they didn't pull it together. I'm counting on that," Gothard said.

Myers said "no one has said no" about completing the sale and said "all those options (for use of the building) are on the table."

The effort to create a center for health excellence --Â focused on prevention of childhood obesity --Â could make Flint a focal point for a movement that would attract interest and visitors from around the country, Myers said, comparing it to Flint's old community education program.

"You have to have the whole village coming together" to do that, Myers said.

The institute spent several years trying to sell the former hotel after buying and renaming it in 2000.

Jerry Preston, president of the Flint Area Convention & Visitors Bureau, said he believes the sale will be completed because the riverfront property remains a downtown centerpiece.

"I've always been told the decision will be made in January," said Preston, who favors using the building as a hotel in the long-term even if it has to be used for some other purpose --Â such as student housing --Â in the short term.