EVANSVILLE, IN (WFIE) -
New dates have been announced for when we learn who will build Evansville's new downtown hotel at the site of the old Executive Inn parking garage.
City officials say the three interested developers must submit plans before the end of the month.
It's been almost a year and half since demolition took place on the Executive Inn lot to make way for a new hotel.
"Come on, it's time," said resident Constance Hart
"I mean, that hole has been they're a pretty long time," resident Ranisha Hickman said.
After a study on the size the hotel should be and several previous development changes, the city now sent out a final request for developers to submit proposals.
Three developers are in the running- Gatehouse Capital out of Dallas, HCW, LLC out of Branson, Missouri and Swerdling and Associates from Denver.
"This is one of the more important projects that we have working in the city," said Bob Warren.
Bob Warren is the Executive Director of Evansville's Convention and Visitor's Bureau and says the city is losing an estimated $8 million to $12 million a year by not having the hotel.
"We are basically out of the conventions and meetings business at this point. Other than booking small meetings, workshops, seminars, and board retreats without a convention hotel, we are very limited to what we can attract to our community," Warren said.
City officials says final proposals must be checked-in by October 30th. The administration is expected to book a developer in November.
"It's time to rebuild," Hart said.
"At least a convention hotel will get us back in the business," Warren said.
Once the developer is chosen, the city is expected to work out incentive packages.
City officials say construction on a project like this could take two years.
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It's been almost a year and half since demolition took place on the Executive Inn lot to make way for a new hotel.
