by Michael Lowrey
As the UPoR reports:
The city’s plan to create an amateur sports complex and hotel near Bojangles’ Coliseum are on hold as the private developer hasn’t yet been able to secure financing, according to e-mails sent to the city.
For nearly a year, Florida-based GoodSports Enterprises Global has been negotiating with the city to build a hotel and gymnasium in the parking lot by Bojangles’ Coliseum and Ovens Auditorium.
During that time, the public’s share of the project has increased and is now nearly half of all construction costs, according to a review of city documents. The latest proposal is for GoodSports to put in less money than it previously proposed to do, according to a city briefing from this summer.
Why am I getting a very National Whitewater Center feel from this project? As in oversold, financially unstable, and with a disappointing return on investment for the public.