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Old 12-07-2009, 07:04 AM
 
19 posts, read 38,778 times
Reputation: 24

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Summit City Holding Corp

Take a look at this article and let me know what you guys think. Talks about a private developer using the old omni source property.
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Old 12-07-2009, 07:09 AM
 
19 posts, read 38,778 times
Reputation: 24
here's the article



Summit City Grand Resort and Casino Holdings Corporation is the publicly traded (OTC:EXTO) parent company of the Summit City Resort and Water Park.

Summit City Grand Resort and Casino Holdings Corporation Moves Ahead with Plans for Adding to the Revitalization of Downtown Fort Wayne.

After an extensive and thorough study into the industrial performance of the Fort Wayne area, our research has yielded detailed analysis into the current market and economic conditions impacting the entertainment and resort industry of this area. Due to these findings, we at Summit City Grand Resort and Casino Holdings Corporation have determined it is in the best interest of the community and the company to go ahead with our plans to build a Resort Destination in Fort Wayne, Indiana. This will include a Water Park, IMAX theater, Resort Hotel, National Performing Art Center and retail space in downtown Fort Wayne.

With careful consideration from an analytical approach, our core team along with national and international consultants has developed a business model that has come full circle and represents the very best in resort entertainment. A comprehensive marketing study and numerous planning sessions have led to the refinement of this business model.We have determined how to maximize the benefit to the Fort Wayne community and will reveal with this model by the end of this year.

Our Mission is to provide the very best in quality family entertainment to our community and the surrounding area. Utilizing 20 years of entertainment business success, we will continue that tradition and provide the very best in lasting entertainment in the ever changing industry of entertainment and hospitality.

We would like to take a moment to address the issue of casino gaming. We have been approached with the prospect of developing casino gaming along with the downtown Resort Destination and we have declined to pursue casino gaming at this time. We strongly believe that this Resort development will be extremely successful without the casino gaming component.

It is up to our community to speak out if they want a casino in our city. There are many in our community that would like to see a casino, yet there others that oppose casino gaming in our city. If there is a public referendum, we will await the voting results and take appropriate actions at that time. If our community decides they would like to see a casino in our city, we will meet to determine if such is possible on our site, or if it should be looked at by another group.

Subsequently, we have issued a directive to stop all planning and development of a river boat casino and will revisit the issue should that need arise. We at Summit City Grand Resort and Casino Holdings Corporation do not see that a casino river boat is paramount to the success of the development. We are devoted to delivering quality and excellence in entertainment to our community and surrounding areas.

As a corporation we are committed and unified to our community and, as such, have decided to go public. This allows those in our community, along with us, to take ownership of the project by buying stock in Summit City Grand Resort and Casino Holdings Corporation. We do not rely on any tax dollars to support the development effort. However, we have been working with the City of Fort Wayne and including them in all development plans since its inception. We are working to achieve a mutually beneficial relationship with the City and strongly believe this to be the best way of conducting business for our community.
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Old 12-07-2009, 02:48 PM
 
Location: Fort Wayne
625 posts, read 1,810,994 times
Reputation: 382
I actually look at this to be an extremely positive step for the city of Fort Wayne. This has not been one of those developments that people come up with in a couple of months and then present it to the board. This has been thoroughly thought out, I think since 2005??, and I think it will be able to clear the hurdles necessary for landing without the casino. Downtown Fort Wayne needs this badly as this property is a huge eyesore for commuters driving into downtown Fort Wayne from the north. I think ultimately this will have a huge impact on the economy (not only for the construction jobs and retail jobs) but also for the businesses that are existing and new businesses that come to downtown Fort Wayne. Believe it or not, businesses look for these types of things in cities because they want to be part of a thriving and aesthetic city.

However, it is such a large project that it will take years to start and complete construction. I wouldn't expect an opening date until around 2013 or 14.
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Old 12-07-2009, 03:24 PM
 
19 posts, read 38,778 times
Reputation: 24
In another article they stated that they wanted to break ground in 2009, but that hasn't happened. I wonder if they are waiting to see if there will be a referendum on gambling in Fort Wayne before they start.
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Old 12-07-2009, 03:49 PM
 
Location: San Diego
1,766 posts, read 3,606,274 times
Reputation: 1235
This is great for Fort Wayne. It will attract families from out of town to the city because now the have the zoo, science central, and this. Plus people that live in the city would go to see movies and eat out downtown.
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Old 12-07-2009, 11:57 PM
 
Location: Fort Wayne
625 posts, read 1,810,994 times
Reputation: 382
Very true. You need to have family activities in and around the downtown, which will ultimately increase the business in downtown and add more eateries and stores.
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