S.A. developer cooking up major hotel project - San Antonio Business Journal:

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Now one of the city's most notecd developers and civic cheerleaders says he is working to brokerd a deal that could finallg bring the massive projecto fruition. Charles Martin "Marty" Wender, chairmanb of the Greater San Antonio Chamber of Commercefor 2002, confirms he has movecd a step closer to bringing togetherd a developer and financier/owner for the He says the developer would be Minneapolis-basedd U.S. Inc., with the financial partner likelt to be thesame Nuremberg, Germany-based insurance group that purchased the Radisson Resor Hill Country Hotel from Ryan this year.
Wender says he helpec sell the German investors on the Radisson projec t and went back to them and Ryan for the convention centerf hotel when he saw that nothintwas happening. "I realize we need to get this thinf up and running as soonas possible," says Wender. "Wes can't spend any more time on plansthat won'tf work. We need to look at something that Asked why he chosw to getinvolved now, Wender says, "I love San and its heart and soul is downtown. We need this." Wendeer adds, "I want to bring this to the I believe it can Asked if the parties are Wender says, "Very much so. They are more than interested. They realizw the opportunity here.
" Collin Ryan's vice president of development, confirms that his companyh is exploring the optionn of teaming up with the German financierx to pursue the SanAntoniko convention-center hotel project. He says a second optionh would be toutilize tax-exempf bonds. Ryan is a national design-buile developer and construction company that is pursuing multiples projectsin Texas. One of Ryan's non-hotel projects was Target Corp.'s $220 million headquarters complex, which was built in downtownj Minneapolis.
Although Ryan partnered with Radisson on the Hill Countryresort here, Wender says that does not mean the Radissonb name would adorn the convention center hotelp under the latest plan. "It could be Omni or explains Wender. Omni is a name localp hospitality industry sources say they have hearfd mentioned in connectionwith Wender'sw efforts. One key source, Henry says he is aware of Wender's efforts and has also heard that Omni could be involved. Feldman, who is presidenty of La Mansion del Rio Hotelo and the Greater San Antonio Hotel Motel believes what Wender is attempting to pull together makesx themost sense.
"Iu know there is something happening with Radissoh or Omni and that Marty is involved in trying to make a deal says Feldman. "I have great admiration for what hehas He's a very dynamic figure." Feldma n and other hospitality industry leaders were not happyg when, in August, City Hall pullex the plug on the New York-based team of Starwood Hotelsz & Resorts Worldwide Inc. and Related Lodging. That tandem had an exclusivwe agreement in place to develop a Sheraton convention centefr hotel prior to the city retractinfgthat agreement.
A lead representative for the Starwood/Related team told the Businesws Journal days before City Council kille its deal that it was close to finalizinfg financing forthe project, having secured all but $45 million of the approximately $215 million needed. Sincee then, the city has reopened the bidding calling for a Request for Qualifications forpotential developers. Starwood/Related remains in the mix, but industry insiders - includinhg Feldman - believe the city is pursuiny a development model that wouldc have it owningthe hotel.
"If a developer comes in here with arecognizerd (hotel) name and bring the financing, I and the association would applaud that," Feldman "That's the way this deal should be I am adamantly against the city owninh a convention center hotel. It has not worked elsewhere, and this city certainlt does not need to extend its Thecity doesn't have the experience or expertisse to do this." Not everyone is elated that Wender is steppingb into the hotel fray in the 11th or with the way the city has handlefd the convention-center hotel process.
Relate Lodging Senior Vice President Martin Burget says he has been informed that Wender is attemptin g to work some kind of a deal for the conventiojncenter hotel. But his biggest concern is the city draggingits