McCurdy loan should wrap up "this week"

Aug 25, 2015

There’s yet another delay in the long-delayed effort to renovate the McCurdy Hotel, but a city official says it should be a minor setback.

Kunkel Group told Evansville officials last month that it had a multimillion dollar loan commitment to begin the renovation project.

Metro Development Director Kelly Coures tells WNIN that Kunkel hoped to have the loan by the end of last week, but instead heard from Kunkel's attorney who said the loan hadn't cleared yet. 

But Coures says the attorney said it was "more than likely" that the loan would be approved by the end of this week. 

Kunkel is planning 113 apartments in the historic riverfront hotel, and commercial rental space in the building’s first floor.

The McCurdy has been vacant and deteriorating for years, with code violations and unpaid taxes. The city considers those issues settled.

The project is believed to cost about $10 million.