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Old 07-04-2015, 08:22 AM
 
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The group, their name escapes me at the moment, should have had a binding agreement in place to purchase the parking are since it is necessary to their business plan, but the seller could have held out for the greater good, and the buyers just appear greedy at this point. I guess that's the moral of this story....
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Old 07-04-2015, 09:12 AM
 
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So are you saying this conference center/hotel can't happen now? I'm not sure I'm following.
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Old 07-04-2015, 11:15 AM
 
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I'm not saying it can't happen; I'm saying the group has hit a snag. I'm sure the new owners of the land would sell it to the group at an increased premium. What I am spinning is: if it doesn't happen, then there are actions against local economic advancement to be that are to blame.
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Old 09-14-2015, 04:11 PM
 
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According to today's H-C this conference center/hotel development is still moving forward and isn't affected by the high-rose condo development. This is a relief.

“We are moving forward with our project regardless of the proposed condo project and everything is moving along according to plan,” David Allen, Auxin CEO, said.

In late February, the Cookeville city council approved a memorandum of understanding with the group, supporting the group’s plans. The following month, Auxin officially closed on the property at 39 Depot St. (the old Wilson building) and shortly thereafter, unveiled plans for a 20,000-square-foot conference center and hotel to be built on that property. In May, Auxin also closed on property at 38 S. Oak Ave.

The condo development would be built on property consisting of a little more than an acre at the corner of Depot and Cedar, which is not owned by Auxin.


KNOW: Downtown hotel/convention center going forward?
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Old 09-14-2015, 08:16 PM
 
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If I looked at the maps and addresses correctly, I think I figured out what's going where. The blue box is the land bought by Auxin for the hotel and conference center, and the red box is the land owned by the condo tower developers. It looks like a 20,000 square foot conference center and 200-room hotel will probably need a parking garage which is probably something downtown Cookeville could use anyway. I'm very eager to see the plans for this project.
Attached Thumbnails
Conference center, hotel coming to downtown Cookeville-condos.png  
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Old 10-06-2015, 11:46 AM
 
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Auxin's Financial Advisor (Randy Pereira) terminated his agreement to work with Auxin due to circumstances that Auxin is apparently reluctant to explain but sound like they didn't have the money to pay him. He was the guy responsible for all of Auxin's project financing, so its unclear whether his departure from the picture will undermine Auxin's ability to pull this deal off.
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Old 10-06-2015, 11:50 AM
 
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Certainly not good news.
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Old 10-06-2015, 04:19 PM
 
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Definitely not good news, but certainly not cause for alarm. Yet. Since Auxin is a consortium of government entities such as the city, the hospital, and Tennessee Tech University, I'm still optimistic that this thing will happen. I'd like to know why Randy Pereira left, or why Auxin (supposedly) has no more money.
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Old 10-07-2015, 11:55 AM
 
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I'm alarmed. If finance is an issue, then governmental entities don't have the funds to get involved. I thought that Auxin was a privately held entity relying on support from local government, the university and hospital to help attract conventioneers and events?
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Old 10-07-2015, 03:01 PM
 
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Quote:
Originally Posted by tragenvol View Post
I'm alarmed. If finance is an issue, then governmental entities don't have the funds to get involved. I thought that Auxin was a privately held entity relying on support from local government, the university and hospital to help attract conventioneers and events?
The minutes for the July 27 city council meeting show that the Auxin CEO did a presentation to the city council to update them on the progress of the hotel/conference center. Unfortunately, the minutes don't say any more than that, and of course our local press does a lousy job following up on things like this.

http://www.cookeville-tn.gov/uploads...LY-27-2015.pdf
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