Hotel System Falls By means of: Mr. Kay’s For Sale All over again
Mr. K’s Yard Middle on Higgins Highway went back on the market place at the beginning of September, and a proposal to make a hotel in Park Ridge on the internet site has disappeared.
The internet site had been for sale, but prior proposals for blended-use had not gotten considerably. The overcrowded school rooms at Washington College, the K-5 university which includes this southwest corner of the metropolis, stalled several before progress projects.
Reps of the Scarlett Resort team experienced approached Community Preservation and Growth Director Jim Brown past summer time and consulted with Metropolis Manager Joe Gilmore, wanting to construct a mid-sized hotel, catering to airport vacationers. They brought a lengthy record of requirements, which includes a large lodge tax that would be rebated for the initial several years, and an financial improvement study that the town would be expected to fund.
Park Ridge has not experienced a hotel due to the fact the Park Ridge Inn was turned into senior housing (what is now the Summit of Uptown). The closest resort assets is the Marriott O’Hare across the avenue, and numerous some others close to Cumberland and Higgins, all on the Chicago aspect of the border. Rosemont has bigger lodges together River Street and Mannheim as part of its far more produced conference business enterprise west of the Des Plaines River.
Aldermen questioned what neighbors on Peterson Avenue north of the website would get in trade simply because their one lane street (which cannot be widened because of a neighboring snow plow organization), is a major trouble for them every time any developer considers that conclusion of the Higgins corridor.
Late in 2019, the developers obtained their financial development examine, funded by the city. They bought their arrangement that the town would cost higher hotel taxes which they would not have to shell out to Park Ridge suitable away, and they refused to dedicate for which hotel chain they had been making. As they went off to operate offers, COVID-19 arrived and the lodge enterprise fell aside, together with most of the 2020 conventions and meetings in close by Rosemont.
When Ald. Marc Mazzuca (6th) questioned at City Council this month about the for sale signs at Mr. K’s, Brown claimed the deal had fallen by.
Guidance local news by subscribing to the Journal & Subject areas in print or online.