Riverfront hotel hinges on multi-million dollar loan - WALB.com, Albany News, Weather, Sports

Riverfront hotel hinges on multi-million dollar loan

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • East Albany duplex fire

    Wednesday, August 20 2014 7:28 AM EDT2014-08-20 11:28:59 GMT
    Firefighters are on the scene of a duplex fire in the 1100 block of Clark Avenue. Around 05:22 this morning crews arrived and saw heavy smoke coming from the home.More >>
    Firefighters are on the scene of a duplex fire in the 1100 block of Clark Avenue. Around 05:22 this morning crews arrived and saw heavy smoke coming from the home.More >>
  • Closing arguments in murder trial set for Wednesday morning

    Closing arguments in murder trial set for Wednesday morning

    Wednesday, August 20 2014 7:27 AM EDT2014-08-20 11:27:27 GMT
    (left to right) Ezekial James and Jordan Harris(left to right) Ezekial James and Jordan Harris
    Closing arguments in the trial accusing two men of robbing and killing former Lee County Commissioner and Albany businessman is set for Wednesday morning.More >>
    Closing arguments in the trial accusing two men of robbing and killing former Lee County Commissioner and Albany businessman is set for Wednesday morning.More >>
  • South Albany House Fire

    South Albany House Fire

    Wednesday, August 20 2014 7:06 AM EDT2014-08-20 11:06:43 GMT
    Albany firefighters are on the scene of a house fire in the 600 block of West Gordon Avenue.We have a crew on the scene.Stay with WALB for the latest on this story.Copyright 2014 WALB. All rights reserved.More >>
    Albany firefighters are on the scene of a house fire in the 600 block of West Gordon Avenue.We have a crew on the scene.Stay with WALB for the latest on this story.Copyright 2014 WALB. All rights reserved.More >>

May 15, 2003

Albany-- The proposed Hilton Garden Inn Hotel and Conference Center is key to the successful growth of downtown.

The decision on this $17 million hotel is in the hands of an Atlanta company, and some Albany banks.

The site for the 120 room hotel is on Front Street near the River Center. The Atlanta's Earl Patton Company, which wants to build the hotel, just got the terms on a $5.1 million loan.

Albany Tomorrow Chairman Emily Jean McAfee hopes the deal won't be crippled over number haggling, "This is sort of a silly term, but costs could nickel and dime it into not working. This takes a little faith, foresight, to make a loan of this type in this industry."

The Atlanta-based developer is reviewing the terms of the loan. The anticipated opening date of the Hilton is next summer.

Posted at 3:52 p.m. by melissa.kill@walb.com