The Chronicle‘s Bill Murphy reports that the group hoping to remake the Astrodome into a convention center hotel/destination contends it met a (relaxed) deadline to show it can obtain financing:
A company that aims to turn the Reliant Astrodome into an upscale convention hotel met a Friday deadline for showing that it is on track to obtain financing for the $450 million project, the company’s president said.
Astrodome Redevelopment Co. missed a deadline three months ago to show it had preliminary approval for financing, but the county extended the deadline to Friday.
“We felt like we complied” with the deadline, Astrodome Redevelopment president Scott Hanson said. “We submitted a package with our financing.”
That doesn’t sound terribly inspiring.
It’s difficult to imagine that any group will be able to secure 100% private financing for such a risky endeavor, but we’ll see.
