The Pine Bluff Civic Auditorium Commission voted Tuesday in a special called meeting to purchase and renovate the Plaza Hotel, which is attached to the Pine Bluff Convention Center, with the help of the Pine Bluff Urban Renewal Agency.
The vote was unanimous, with Commissioners Lisa Kosmitis, Monique Benford, Zach Taylor, Will Jenkins, and Debbie Hollingsworth voting. Pine Bluff Convention Center Director Joseph McCorvey, Go Forward Pine Bluff CEO Ryan Watley, Pine Bluff Urban Renewal Agency Executive Director Maurice Taggart, and Mayor Shirley Washington were also in attendance.
The resolution to pass says that the Pine Bluff Urban Renewal Agency has expended significant funds to renovate the Pine Bluff Convention Center in order to attract conventions and entertainment that will have a significant economic impact on the City of Pine Bluff, and the condition of the Plaza Hotel and Suits – which is attached to the Convention Center – harms the recruitment of conventions and entertainment that will have a significant economical impact on the City of Pine Bluff.
Go Forward Pine Bluff in conjunction with the Pine Bluff Urban Renewal Agency hired Hotel Valuation Services to complete a feasibility study that concludes the hotel can be profitable following a complete renovation, and the Pine Bluff Urban Renewal Agency desires to partner with the Pine Bluff Civic Auditorium Commission to purchase the Plaza Hotel and Suites.
The Pine Bluff Urban Renewal Agency has resolved to purchase the Plaza Hotel and Suites contingent upon the Pine Bluff Civic Auditorium Complex Commission will take ownership and therefore responsibility for the acquired property to establish a Hotel and Convention Center Complex.
The Pine Bluff Civic Auditorium Commission is slated to accept transfer of the property up to 60 days past the Pine Bluff Urban Renewal Agency’s closing date and will enter a contract to purchase the property.
The Pine Bluff Civic Auditorium Commission will consult with the Pine Bluff Advertising and Promotion Commission on the issuance of a bond to renovate the hotel. If the Advertising and Promotions Commission fails to engage in supporting the renovation of the hotel, the Pine Bluff Civic Auditorium Commission will not accept transfer from the Pine Bluff Renewal Agency.
Pine Bluff Convention Center Director Joseph McCorvey is looking forward to working to revitalize the hotel in hopes of attracting new conventions and entertainment to Pine Bluff.
“This move is a tribute to those people who had the vision to create the first convention center complex in the State of Arkansas 43 years ago,” said McCorvey. “This takes it to the next phase. That hotel it crucial to the success of this convention center, and for the city of Pine Bluff in terms of recruiting conventions, sporting events, and other events that can have an economic impact on the city of Pine Bluff.”
Pine Bluff Urban Renewal Agency Executive Director Maurice Taggart this is a major step to help quality of life in Pine Bluff.
“This is a great opportunity for us here in Pine Bluff,” said Taggart. “One of the biggest issues we have had as of late relates to the hotel. It is hard to bring those conventions in when you have a hotel that is not in such a great shape and in a dilapidated state. This is a major step towards renovating the hotel and making the urban renewal area more livable for the constituents here in Pine Bluff.”
Taggart said that having a quality hotel in operation will help with tax revenue in Pine Bluff.
“This has been one of the biggest issues that my board has always talked about in terms of revitalizing the urban renewal area. It is a big piece that relates to it,” Taggart said. “We did some research and when I felt the time was right to bring it before the board, they made the decision. I think the decision to purchase it is going to go a long way towards increasing the tax revenue here in the city of Pine Bluff, and we are excited about it.”
Pine Bluff Mayor Shirley Washington said the ‘wheels are in motion’ to improve on tourism in Pine Bluff.
“The wheels are in motion and we are very excited about this,” Washington said. “I think this is an opportunity for Pine Bluff to expand on its tourism. One of the things that has held Mr. McCorvey at the Convention Center hostage is that we do not have a Convention Center hotel in good operating condition. We think this is going to turn that around.”
McCorvey expect a 20-month process to complete both the purchase and renovation of the hotel.
“This finalizes in six months, so by March or April we expect to close this deal and have ownership of the hotel,” McCorvey said. “Hopefully by then we have things in place in terms of financing for the project for renovations to be starting and to get the other owners out of the picture on this. We are hoping to begin renovations as soon as we take ownership of the hotel. One we have ownership and financing in place we intend to go straight away with the project. It is going to take roughly 14 months to completely renovate the hotel from what the consultants told us because of the excessive work needed. We have 200 rooms that need renovated.”
