Here's the three proposals that were submitted to the Baltimore Development Corporation for review, this is a direct quote from this April 10th article.
The proposal would be paid for with tax-exempt bonds that require public ownership of the hotel.
The proposals include:
The group also proposed developoing the hotel along with a new 19,000-seat arena, offices and the headquarters for Catholic Relief Services, which has asked the city to use the parcel for its new offices.
The plan was presented by Atlanta-based Portman Holdings LP, one of the nation's largest developers of convention hotels. The team also includes Treyball Development Inc., a company based in Beverly Hills, Calif., that is owned by the actor Will Smith and his brother, Harry. No brand name was included in the proposal.
The project would be paid for with private financing, tax-increment financing -- which dedicates future tax receipts to the development -- or through sale of tax-exempt bonds, depending on the city's preference.
The Baltimore Sun published a news story on October 22nd, 2003 at 9:24 PM stating that Baltimore is within days of selecting a developer for the convention center hotel. The president of the Baltimore Development Corporation and the board are expected to make a selection out of the three on Thursday, October 23rd, 2003 and then send it to Baltimore Mayor, Martin O' Malley who is then expected to award an exclusive negotiating agreement with the winning development team to break ground for the convention center hotel but unfortunately, it's uncertain when O'Malley will make that announcement at the current time. There's an external link to the article in the "External Links" section.
The Baltimore Sun has published another news story on Friday, October 24th, 2003 at 4:41 PM, updated at 8:08 PM stating that the Baltimore Development Corporation has picked the 750 room Hilton Hotel RLJ proposal. The hotel will have 1,000 underground parking spaces and will have a 20,000 square foot grand ballroom and nearly 62,000 square feet of meeting space that can be utilized by the Baltimore Convention Center. The hotel is going to be about 24 stories high and cost approximately $200 million to build and will have shops and restaurants that will be designed to function with Camden Yards during the Baltimore Orioles home game. The hotel will be built on two vacant blocks that are north of Oriole Park at Camden Yards and west of the Baltimore Convention Center where currently a parking lot is located and the hotel will have an all-weather walkway connected to the Baltimore Convention Center. The next step is for the Mayor to approve the project, then it will take about a year before construction can begin then another two years for the hotel to be constructed. RLJ Development's president stated that he expects the hotel to be completed by 2007 at the latest. There's an external link to the article in the "External Links" section.
The Baltimore Sun has published another news story on Sunday, November 2nd, 2003 stating that Baltimore Mayor Martin O' Malley is expected to announce his final decision on the convention center headquarters hotel by the end of this week. O'Malley has many challenging issues regarding this hotel, a major issue is to possibly give up real estate that is specially suited to build an possible future expansion of the Baltimore Convention Center on. There's been debate on whether 750 rooms is enough to help the Baltimore Convention Center, a consultant report states that a suitable number of rooms should be 800. There's an external link to the article in the "External Links" section.
The Baltimore Sun has published another news story on Thursday, November 13th, 2003 stating that Baltimore Mayor Martin O' Malley has made his final decision and he officially approved the 750 room Hilton Hotel RLJ proposal. RLJ Development now has been granted by the mayor a six month exclusive negotiating priority to build the $200 million 750 room Hilton Hotel. The Baltimore Development Corporation hopes to break ground on the project next year (2004) in the two vacant blocks along Pratt Street that is across from the Baltimore Convention Center and have the hotel open by 2006 or 2007. Two major items still needs to be negotiated though, 1. Financing, the city wants the hotel to have little financial impact as possible towards the citizens of Baltimore, and 2. Room block agreement with the Baltimore Area Convention and Visitors Association (BACVA), Leslie R. Doggett, BACVA's president and C.E.O. hopes that 60% of the 750 rooms would be available to BACVA at any given time, the proposal offers to make 600 rooms available to BACVA. A final decision will be made between the Hilton and the city when the hotel nears opening. O'Malley is projecting the hotel to bring in $4.4 million a year with taxes and other revenue and provide 461 jobs by the fourth year of operation. As stated previously, the hotel is still expected to have a 20,000 square foot grand ballroom, nearly 62,000 square feet of meeting/convention space, 1,000 underground parking spaces, shops and restaruants on the street level of the hotel, and a all-weather walkway connecting the hotel to the Baltimore Convention Center. There's an external link to the article in the "External Links" section.
Update: Thursday, October 23rd, 2003
Update: Friday, October 24th, 2003
Update: Sunday, November 2nd, 2003
Update: Thursday, November 13th, 2003
External Links