I hope Paducah LOSES the quilt show... (condo, credit)

[kentuckydad95]

Originally Posted by JefferyT

Im glad I read this as I was planning on a vacation to Paducah over labor day weekend and was thinking of getting a room at the Executive Inn.

Are there any other hotels in downtown Paducah? I want a downtown location so I can be withing walking distance of things, like Lowertown and the quilt museum and such.

Try this:

Welcome to Fox Briar Inn at Riverplace

They range from $145 to $275 per night.

Here is a pic from the $145 room (950 sq/ft)



Here is the $275 room (1740 sq/ft):









This is THE way to go in downtown Paducah. The Executive Inn will not be ready until next spring.

[Davart]

Most are around exit 4, there is the Knights Inn, not sure how good it is. I know they are ACTUALLY remodeling the Executive Inn ... how ever there are some Bed and Breakfast down around the art district and downtown. Don't know what they cost or if they have any opening this close to Labor Day.

check these..

The Paducah Harbor Plaza Bed & Breakfast
Escape Bed and Breakfast
Welcome to Fox Briar Inn at Riverplace

[kygman]

Used to be a Ramada Suites down at exit 3. The hotel is still there but think it changed names. When we got married in '01, the suite was $49/night. Don't think it has gone up much. True, for the price, it's not like those downtown, but for a young couple watching the money it was a nice way for me to let her sleep late in the morning while I went in the other room and watched TV.

[Sundance]

I did say that $350K for a condo in Paducah is crazy.

It isn't just crazy, it's bat-s**t crazy! I don't know what most of your posts are like, but this particular statement I absolutely AGREE with....it makes no sense, none whatsoever.

For that $$$, you could buy a HUGE home - with land, elsewhere in this area. That kind of money would get you a large, wonderful house with some land....throwing it down a rat-hole makes no sense to me...and even if you don't want a home w/land, it STILL makes no sense. Real estate is supposed to be an investment - you would never come close to getting your money back on a lowertown condo.

[kentuckydad95]

Originally Posted by Sundance

It isn't just crazy, it's bat-s**t crazy! I don't know what most of your posts are like, but this particular statement I absolutely AGREE with....it makes no sense, none whatsoever.

For that $$$, you could buy a HUGE home - with land, elsewhere in this area. That kind of money would get you a large, wonderful house with some land....throwing it down a rat-hole makes no sense to me...and even if you don't want a home w/land, it STILL makes no sense. Real estate is supposed to be an investment - you would never come close to getting your money back on a lowertown condo.

I'm glad you agree. The people who think that paying $350K for a condo is resonable, argue that it is for people who don't want a huge piece of land to take care of (among other reasons). I say that for $175K, you could get a heck of a nice spread and have money left over to pay someone to take care of the landscaping full-time.

I will say the condo's are nice. Not $350K nice, but nice. Someone is going to make a massive killing selling those condo's. Like they say, "there's a sucker born every minute."

[sstruckguy]

I have held off as long as I can, to comment on a lot of mis-information in this thread.(I have been lurking and finally joined)

Since I have had personal business dealings with the previous owner of the "Big-E", and also have stayed in the hotel many times, I see very little to ANY changes over the past 20 years. In the rooms, hallways, restaurants, and most of the other public access areas, little to no changes have been made. Singh purchased the property with a pocket full of promises that haven't been kept. Part of those were updates and remodeling to the hotel. According to the media, all he has done is hire architect firms, management companies, and who knows what else, and NOT paid them. But who would expect that, since he can't/won't pay his electric or water bills either. Then there is the deposits on rooms, for next years Quilt Show, that have gone missing.(estimated $200,000)

Speculations can and have been made on the whole process. I have always equated it to the "Duke and Long" fiasco of a few years back. That situation crammed some business sence into the local government.(hopefully) It didn't do anything for the countless small business owners that went bankrupt, but maybe the "old money" that is still here, did learn from it. Speaking of which, Duke and Long was a long time petro-chemical distributer, that when it disolved, so did the downtown gas stations and convience stores. I better leave that one alone because it is a major rant in itself.

I moved to Paducah in 1978. Its appeal was a low cost of living and a small town feel. The sad thing is, the business/real estate owners do not want to keep up with the growth and basic cost of living. The person that was an employee in the 80's and 90's, should have the same income today, that they were paid when they were hired.That works, if everything else stayed the same. The business owners want ALL the good tidings. The employee gets a nickel raise while the boss buys his weekend home on Kentucky Lake and/or his $350,000 weekend condo downtown.

Singh is the perfect example of the local old money. It took him a year to finalize his purchase of $5.7 million. Now he has a chance for a potential 4 million dollar profit, and he wants to split hairs on the purchase agreement. Considering the original purchase was finaslly, finalized, in June of last year,(07) and he has been held in default of "non-payment of utilities", leases, insurance bindings and so many other contract defaults, where is his leg to stand on? It reeks of Duke and Long favoritism.

Paducah has been held back by old money for far to long. If it continues, Paducah will be a ghost town. Owensboro was once smaller than Paducah. Does the old money want to keep it that way and continue to keep a stranglehold on any and all growth?

I think so.

Disclaimer: I have stated many MANY facts with a couple of opinions. If you wish to dispute the facts, please don't. If you want to dispute my opinion, that is your choice. But, I will tell you now, you won't change it

[kentuckydad95]

If I were Singh, I would hold out for 20 million profit. The city of Paducah is run by idiots and the whole region knows it by now. This bogus "deadline" of today at 3pm is/was a joke. The city isn't going anywhere. Singh knows that if he doesn't sell the Big E, the quilt show is gone like the wind. He has the city by the balls and everyone knows it. The city DID have a chance to buy the Big E (as stated numerous times) and now the city is getting just what they deserve. MAYBE the citizens of Paducah can smarten-up and vote in new people to run the city.

[Sue Fox]

So, what amount do you all say would be a fair price for a newly constructed condo in downtown Paducah? How much a square foot is construction going far in the area? Thanks!

[BLS2753]

Originally Posted by Sue Fox

So, what amount do you all say would be a fair price for a newly constructed condo in downtown Paducah? How much a square foot is construction going far in the area? Thanks!

Don't know about the square foot cost, but:

None of these condos are new construction to my knowledge. They're former warehouses/office spaces, above what use to be retail stores. I wouldn't pay more than $75K for one of them. You can get virtually the same lifestyle by living in Section 8 housing in the old Irvin Cobb Hotel. There's a block between the Cobb and condos on Broadway.

$350K is at the top end of any residential property in this region. Most at that price are nice, new homes with acreage in the surrounding rural areas, not glorified hotel rooms in a questionable neighborhood.

[sstruckguy]

Originally Posted by Sue Fox

So, what amount do you all say would be a fair price for a newly constructed condo in downtown Paducah? How much a square foot is construction going far in the area? Thanks!

I'm not aware of any new construction downtown.. either. With most of the area designated as historical, the owners(old money) have elected to update them and charge metro area prices for them. Unless you have a hard reason to be downtown,(little to no parking) I would also suggest looking in the outlying areas. I live in one of the burbs of Paducah and it only takes 15-20 minutes to get anywhere in the city. It could conceivably take longer than that, to get to your car if you lived downtown.

Square footage pricing is wide and varied, depending on where you look. I built my home 3 years ago and have sold 4 others, in and around Paducah. In my experience, you can spend $60 or $160 a square foot. It just depends on what you want and where you want it to be.