Sunday, July 8, 2012

Trouble at Augustine Tower property

Inlet Inn hotel
Well what do you know, just a week after posting about the Augustine Tower that never was, an article relating to the property that the tower was to be built on has been published. In particular, there is trouble at the Inlet Inn hotel on the corner of 6th and H. For those who have paid attention, trouble at the Inn is hardly a surprise. The numbers published in the article however do tell the story of just how bad it really is over there. The article provides some background information on the developers who own the property and how they had intended for the junky hotel to be non-existent by now and instead be replaced with the 21 story Augustine Energy Center. It looks like my suspicions were right about the economic downturn of 2008 being the reason for the Augustine project's death. The Augustine Energy Center was supposed to be completed in 2010.

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