George Tanber of http://Newsmeister.com, is reporting of the hotel deal that fell through:
Potential Downtown Hotel Deal Quashed - For Now - Over Land Costs
TOLEDO, Ohio - A deal that potentially would bring a new hotel to downtown Toledo is on hold because the developer believes the asking price for the property is too high.
The developer, Ed Walsh of Alpine Reality in Ann Arbor, Mich., bid on a property at Jefferson Avenue and Water Street owned by the Reuben Co., a Toledo real estate and property management company, according to Lucas County Commissioner Pete Gerken.
Walsh intended to build a Courtyard by Marriott on the property, currently a 1.6-acre parking lot behind Fort Industry Square, according to Gerken. He said the deal is valued at $16 to $18 million.
Read the rest of the story at:
http://www.thenewsmeister.com/the_newsmeister/2008/09/potential-downt.html
This story also appears in the Toledo Free Press:
http://www.toledofreepress.com/2008/09/26/downtown-marriott-hotel-deal-d...
