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South Bend <br />Regular Me <br />5. OLD BUT <br />There <br />6. NEW BU <br />a. St <br />elopment Commission <br />- October 13, 1989 <br />no old business. <br />THERE WAS NO OLD BUSINESS <br />Mrs Kolata noted that a proposal has <br />been received for Parcels C4 -3 and C4 -30. <br />Those are the parcels located between <br />Michigan Street and St. Joseph Street <br />along Washington Street. They are <br />cun,ently being leased to Center City <br />Associates and used for surface parking. <br />The proposal is from a developer of hotel <br />buildings for the construction of a 136 <br />room all suites hotel. Mrs. Kolata <br />shared a preliminary site plan which <br />pro a hotel centrally located on the <br />is with surface parking along the <br />per ter. The developer is interested <br />in ing if the Commission would <br />consider selling that property for an all <br />suites hotel before they invest more <br />moriqy developing detailed plans. They <br />are willing to negotiate further on how <br />the building would be placed on the site. <br />The developer, Gulf Coast Development, <br />Inc., represents a high quality hotel, <br />conrected with a major U.S. motel chain. <br />The all suites hotel is a new name and <br />co pt for this hotel chain. They are <br />plarning to build 150 all suite hotels <br />around the country during the next three <br />yeaits. The motel chain has secured <br />$35C,000,000 in financing, so this <br />prorosal will have its financing once the <br />project is approved by the motel chain. <br />Mrs. Kolata noted that the Convention and <br />Visitors Bureau of the Chamber of <br />Commerce has indicated that South Bend is <br />in reed of additional hotel space in the <br />dowrtawn. The Bureau is unable to <br />schedule larger conventions because of <br />the limited number of hotel rooms <br />available in the downtown. <br />-3- <br />