Saxony, a company well-known throughout the Coachella Valley for its not-at-all-successful plans for a convention center, shopping outlets, and Coachella Valley Wind-Up concert will not build a luxury hotel in Cathedral City, reports KESQ. I know. It’s stunning news.
The hotel plans were unveiled in 2015 for Date Palm and Highway 111, a prime spot in Cathedral City, with Saxony CEO Martin Delemo proclaiming, “It will be the catalyst that basically starts the [downtown] revitalization,.”
But that won’t be happening as Saxony missed the deadline to purchase the land on New Year’s Eve of 2016.
“We envision this to be an entertainment area, we have the theater, we have the festival lawns, We want it to be a destination stop for our community and for tourists,” Mayor Stan Henry said of the project in 2015. That vision will now have to come about from a new developer.
Cathedral City’s Communication’s Director, Chris Parman told the tv station, “The City has been informed by the City Urban Revitalization Corporation (CURC) that the developer [Saxony] missed its latest deadline with them requiring the developer to purchase the land, obtain building permits, and demonstrate its financial strength towards building the hotel project. CURC continues to own the land entitled for a hotel project, maintains all non-refundable deposits worth $200,000 from Saxony Start Hospitality, LLC, and is actively marketing the property to other developers.”