Scheduled to be published in the Lancaster Post on October 24, 2008, but was not due to lack of space.
...in their own words...
"Redevelop the Watt and Shand Building as a major mixed-use attraction with retail, visitor attractions, office space and other uses – a lively, vibrant, successful place."- 1998 LDR study of downtown Lancaster
"The investors' plans for the store are still up in the air, but it seems likely the building will have offices - possibly for the county - on the upper floors, and retail/tourism space on the first floor."- Lancaster Sunday News, Jan. 18, 1998
"What we're trying to create here is a mixed-use project that can house a variety of uses that will bring people into Lancaster to work, to play and to visit."- Tom Smithgall of High Real Estate, quoted in the Central Penn Business Journal, Oct 30, 1998
"Private investment would fund much of the estimated $45 million it would take to convert and expand the former Watt & Shand Building into a 281-room luxury hotel and new retail shops. The 61,000-square-foot convention center - and an accompanying expansion of the King Street Parking Garage - would be built solely with public dollars, at a combined cost estimated at $30 million."- Lancaster New Era, Aug. 19, 1999
"The convention center would combine a $35 million publicly owned conference and convention center with a $45 million privately developed 294-room Marriott Hotel on Penn Square. The convention center would likely be 160,000 to 200,000 square feet -- just under the size of a Wal-Mart supercenter."- Lancaster New Era, July 10, 2002
"Once officials envisioned a 61,000-square-foot center costing about $30 million. Now they are planning a multi-purpose center of nearly 200,000 square feet, costing $55 million. That's triple the size and nearly double in cost."- Lancaster New Era, Dec. 5, 2002
"The current estimated cost is $124 million, which includes $70 million for the convention center and $54 million for the hotel."- Lancaster New Era, Sept. 15, 2004
"The price tag, from groundbreaking to the last light bulb, is now estimated at $129 million. The hotel will rise 17 stories, making it the tallest building in the county. The Griest Building, across Penn Square, is 13 stories tall."- Lancaster New Era., Nov. 11, 2004
"City Council moved the $129 million convention center/hotel project from stall to full speed ahead as it agreed to back two new bonds — adding up to $36 million — to complete the financing of the hotel portion of the project. And council gave its blessing to the Lancaster City Redevelopment Authority to buy the former Watt & Shand building and work with Penn Square Partners to develop the $60 million luxury hotel in the building."- Lancaster New Era, April 13, 2005
"Keeping costs at or below that figure is critical for developers of the 300-room Marriott Hotel and adjoining convention center proposed for Penn Square. Project officials have said $129 million is the maximum available from public and private sources."- Intelligencer Journal, April 19, 2005
"With about half of the construction designs completed, the cost for construction has gone from $129 million to $134 million."- Lancaster New Era, July 9, 2005
"The total estimate is now $137.8 million, or $8.8 million above what developers have said they can raise for construction."- Intelligencer Journal, Oct. 22, 2005
"City Council voted 4-1 to buy the vacant Watt & Shand building from private developer Penn Square Partners for $7.06 million. The price includes reimbursement for costs incurred by the partnership during the seven years it owned the building and the cost of design documents for the proposed hotel."- Intelligencer Journal, Oct. 26, 2005 "Skyrocketing construction costs and determined opposition to a hotel and convention center proposed for downtown Lancaster likely have killed the project after nearly eight years of planning, developer Penn Square Partners announced Wednesday. Bids for construction contracts were $20 million over the project's $138.9 million budget as of Wednesday afternoon, a hurdle Penn Square Partners said was 'likely too great to fill.'" - Intelligencer Journal, July 27, 2006
"The Watt & Shand building is coming down, and the cost of its replacement on Penn Square — a hotel and convention center — has gone up. The project is now expected to cost $165.5 million, an increase of $10.1 million, new figures released by the Lancaster County Convention Center Authority show."- Lancaster New Era, Nov. 16, 2006
"Convention Center and Hotel Project Total Area: 412,079 square feet Hotel Facilities: 161,417 square feet; 13 floors Convention Center Facilities: 183,917 square feet Shared Space: 66,745 square feet Approximate Cost: $174.4 million, including hard construction costs (associated with the building), the costs of furniture and fixtures, and soft costs (such as financing)"- http://www.LCCCA.com/facts-figures.htm, October 2008
