I don't know if John Q. Hammons' proposal is the best option. But I do know I like the fact that Hammons' company is interested in Lincoln's arena / hotel / convention center project. Why? Because Hammons is a very successful businessman, and he is no dummy. He's not going to work hard to get involved with a doomed project. Indeed, it may be telling that Hammons backed out of the "Catalyst One" project early, focusing instead on the Haymarket project.
Also interesting to note is that Hammons' proposal includes a convention center up to 60,000 square feet -- the size desired by City officials, but double the size recommended by a consultant. It's comforting to know that the people with money on the line think a bigger convention center will succeed. Then again, a big chunk of the funding for the convention center could very well come from us, so it's easier for a developer to be willing to gamble.
Now to sit back and see if the Scott brothers reveal any details about their proposal.
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Do you remember back a few years ago, the reason John Q was going to build the hotel under his own name with his own money was because his company believed he’d been building too many projects for what the market could sustain?
When John Q builds something as John Q, it’s because the board of his company has said the project isn’t a moneymaker. In 2005, Lincoln’s occupancy rate was already low.
Now, in the arena / convention center race, other developers are proposing smaller projects knowing that will mean less profit for them and the potential that they’ll eliminate themselves from the running.
But when a city wants something the market can’t sustain, John Q comes to the rescue.
Spoke too soon—I forgot he took the company private again.
Either way, John Q has a reputation of pushing projects that are unsustainable, hence his own withdrawal from the project he initiated at 17th & Q.
Not knowing much about John Q. outside of Lincoln, I can’t really comment about his reputation beyond the city. In the context of Lincoln, he balked on the Catalyst One project early, so you can’t really say he “pushed” that one. He hardly put in any effort at all. And the 17th & Q fiasco was dirtied by the specter of eminent domain. Remember how spooked the City Council got once a few folks started some anti-ED buzz? Any right-minded developer would have paused or aborted a project in that atmosphere.
That’s not to say you’re wrong about John Q. I’m glad you offered up some counter arguments. I just don’t think either of the two Q Street projects are prima facie evidence of problems with JQH’s proposal.
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