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Soffers on Verge of $178 million Settlement in Fontainebleau Las Vegas Banktruptcy Case
November 14, 2013
Nov. 14--The Soffers are on the verge of settling with creditors over the debacle once known as the Fontainebleau Las Vegas, a still-skeletal $2 billion high rise in Sin City that ranks as one of the biggest busts of the U.S. real estate crisis. A federal bankruptcy judge in Miami said Wednesday he was "inclined" to approve a $178 million settlement that would pay contractors on the failed casino tower about 25 cents on the dollar. Contractors would divvy up about $85 million for a total claims pool of $600 million, but which a creditor lawyer said would probably end up closer to $350 million once negotiations are finished. The money wi
Sonoma, CA Group Fighting to Put the Skids on Future Hotel Development
November 14, 2013
Nov. 14--Larry Barnett likes the village Sonoma, the heart of the county's Wine Country, just the way it is. But the former mayor is concerned that if residents don't put the skids on hotel development, Sonoma will go from quaint and small to commercialized and congested. "As the economy turns around, Sonoma is in the crosshairs of development," he said. "So far we've retained our charm, authenticity and genuineness. But no one wants to become the next Yountville or Carmel." That's why he and the grassroots Preserving Sonoma Committee spearheaded Measure B. The legislation, if passed by a majority vote during a special election Tuesday,
Will Massachusetts End Up with Gaming at All? Foxwoods’ is the Latest Proposal to Stumble
November 14, 2013
Nov. 14--Official concerns about Foxwoods' proposal for a Milford casino yesterday -- on the heels of setbacks with other casino developers -- are adding new fuel to questions about whether Massachusetts will end up with any casino at all two years after the state passed an expanded gambling law. "I can foresee where all three (state casino license regions) end up without one," said Richard McGowan, a Boston College professor who has written extensively about gaming. He said it's "conceivable" that none of the casino applicants is able to meet all of the conditions set by the state. In a hearing for Foxwoods before the Gaming Commission
Farm-to-Table Relationships Blossom Among Chefs, Farmers and Consumers
November 14, 2013
Nov. 14--"Eat local" may be a buzz phrase seen on countless bumper stickers, restaurant menus and websites. But in recent years, it's been taken a step further to form relationships between Wisconsin farmers and restaurant owners in what has been called the farm-to-table movement. In farm-to-table, chefs seek Wisconsin farmers to serve as their restaurants' primary food supplier. This not only puts dollars back into Wisconsin's pocket, it also brings seasonal ingredients to consumers' dinner plates at reasonable prices. The only thing that changes is the menu. "Most chefs 10 years ago weren't adjusted to the seasons," said Jack Kaestner
Hawaii Wedding Industry Readies for Same-Sex Nuptials & the Hundreds of Millions in Tourism Dollars
November 14, 2013
Nov. 14--With same-sex marriage legal in Hawaii as of Wednesday, the local wedding industry is gearing up for hundreds of same-sex ceremonies on the islands during the next several years. It's also looking forward to hundreds of millions more tourism dollars that likely will accompany those weddings, as a local economic study shows. "We are ready to go," said Keane Akao, managing partner with Perfectly Planned Hawaii, a new local company marketing to lesbian, gay, bisexual and transgender couples looking to marry. Akao said he and his business partner started organizing the company about five months ago, even before Gov. Neil Abercrombi
Topban Ltd. Building Seafront Hotel in Bat Yam, South of Tel Aviv; 2 Adjacent Hotels Coming by 2017
November 14, 2013
Nov. 14--A group of foreign investors is building a seafront hotel in Bat Yam at an investment of NIS 550 million. Incorporated as Topban Ltd., the investors bought the land from a group of diamond merchants four years ago for $20 million (NIS 74 million at the shekel-dollar exchange rate at the end of 2009), after they were unable to move forward on the project. Two more hotels will be built adjacent to the Sea Hotel, which will be completed in 2017, for a total of 1,200 hotel rooms. The 26-floor 50,000-square meter hotel will have 436 rooms, 40 percent of which the developers plan to sell as holiday apartments. These apartments will b
Tampa, Florida to Seek Proposals for New Ybor City Hotel
November 14, 2013
Nov. 14--TAMPA -- City officials plan to put out a call in the coming weeks for proposals to build a hotel at the western entrance to Ybor City, Tampa's economic development chief said Thursday. The request for proposals would cover an L-shaped piece of city-owned land at Seventh Avenue and Nuccio Parkway. Developers could also purchase the former home of Volunteers of America, a nonprofit organization whose former headquarters lies on Eighth Avenue just north of the city property, Robert McDonaugh told Tampa City Council on Thursday. Together, the parcels was give a prospective developer three-quarters of a city block to work with, McD
Big Plans in Works for 630 Acres in Grand Texas; Proposed Theme Park, Hotels & Entertainment Complex
November 14, 2013
Nov. 14--Developers on Wednesday unveiled elaborate new details for a proposed theme park and entertainment complex on 630 acres of piney woods in eastern Montgomery County. The project, which they envision as a long-awaited replacement for AstroWorld, would include not just water slides and roller-coasters but also hotels, retail, baseball fields and other venues clustered together as the Grand Texas Sports and Entertainment District. Construction is set to begin early next year and the park could be open by the end of 2015. Monty Galland, who has been working on the park project for five years, and other leaders released a series of c