Hotel funding past half-way mark

FORT WAYNE, Ind. (WANE) - NewsChannel 15 has learned that the developer of the Harrison Square hotel has secured more than half of the funding necessary to build the $20 million dollar facility.
 
Matt Frankiewicz, Director of Development for White Lodging, said Centier Bank has committed to more than half of the funding for the project.

Centier Bank is now working to bring in other lenders for the remainder of the funding.

The future of the hotel had been in question because a ground breaking for the facility had not yet taken place.

White Lodging has already extended its building permit at the site because of the delay in funding.

Frankewicz said they hope to have the rest of the money secure within 3 to 4 weeks and that the slump in the economy coupled with the credit crunch has just come at a very bad time.