Kunkel to go in with other development group on downtown Evansville hotel proposal

The Kunkel Group has decided to withdraw its proposal to build a replacement of the Executive Inn in Downtown Evansville and join forces with another local developer that submitted a proposal for the same project.

Martin Woodruff, the principal owner of Woodruff Hospitality, said today that The Kunkel Group has decided to take "a significant equity position" in Woodruff Hospitality rather than pursue its own plan to build a new convention hotel Downtown. The Kunkel Group plans to make an announcement to that effect at a news conference held at 4 p.m. today at the company's offices at 510 Main St.

Both The Kunkel Group and Woodruff Hospitality were among the four development groups that submitted proposals Friday detailing plans to replace the old Executive Inn, which has stood in a half-demolished state since the back part of it was knocked down to make room for the Downtown arena. Browning Hotel Associates of Indianapolis and White Lodging of Merrillville, Ind., also submitted plans.

Woodruff said Friday that Woodruff Hospitality has the financing needed to build a new hotel without assistance from the city. He said today that Woodruff was still likely to need public help in building parking spaces for the property. The contributions from The Kunkel Group will lessen even further the need for taxpayer assistance, he said.

Members of the Evansville Redevelopment Commission will hear details of the hotel proposals when they meet at 8:30 a.m. Tuesday in Room 301 of the Civic Center.