GREEN BAY, WI (WTAQ) - A real estate development group who stalled a deal to sell the city owned Clarion Hotel in downtown Green Bay is proposing to tear down the structure and build a 16-story hotel.
Edgewater Resources LLC met with the city Tuesday where they proposed a $15 million hotel, with a restaurant and a marina.
Green Bay Mayor Jim Schmitt called it a positive meeting.
“They have an idea with the Clarion that’s worth exploring, it was an interesting meeting, it was the first time that I met them; we are going to take a look at it we are going to give them time to put pencil to paper,” Schmitt said.
Schmitt says they will be looking at their financing for the project.
Schmitt says he is interested in doing business with them, but still says there may be other opportunities.
With the Edgewater coming in at the 11th hour, construction needs to start by the end of the year under a deal with Brown County.
The county approved the use of funds from the hotel room tax to pay for the expansion of the KI Convention Center, which will connect to the old Clarion Hotel.
A couple weeks ago, the city council delayed a vote until July 30th on approving a purchase deal with the Clarion Hotel’s current hotel management company, American Hospitality Management.
They would purchase the $2.7 million from the city and agreed to invest a minimum of $4 million to completely renovate the hotel.