Indy developer slice of River Park site to build hotels

Indy developer slice of River Park site to build hotels
Hampton Inn promised for site
Steve Zabroski - Times Correspondent | Posted: Wednesday, August 5, 2009 12:00 am

HAMMOND | An Indianapolis-based development group plans to build a pair of hotels and other facilities at a corner of the former River Park Apartments site on the city's far southeast side.

An agreement to sell 4 acres of the property to Yagnesh Patel and John Tampa is expected to be signed today, said Phil Taillon, Hammond's executive director of planning and development.

The Hammond Redevelopment Commission, which acquired the 22-acre site along the Borman Expressway just east of Kennedy Avenue in 2006, approved the sale Tuesday night.

One of the hotels will be a Hampton Inn, Taillon said, and the second will be of similar quality.

In a subsequent phase of development, the new owners hope to buy more of the available land for a new banquet and convention facility, he said.

The developer did not seek financial incentives from the city during three months of negotiations leading to the sale, Tallion said. And the contract is just a purchase offer for the property.
http://nwitimes.com/news/local/lake/article_8a2279d7-e819-5599-9bb8-b97a0a0ca925.html

great news. heres hoping those other things include a couple of decent restaurants

I hope they intend to put some professional buildings in there...doctors or lawyers something in that line

I know the Patels...they are a host of doctors that invest in the hotel/motel businesses. They don't build unless "they come". Saudie Arabians, close-knit family, mainly doctors that are related to each other that invest in the hotel business.

Very professional businessmen who invest in hotels. Once based in Michigan City. I handled the billings for them, through independent outside contractors. They usually build, then sell to others. But, very hard-working people...they built and ran the ones in Homewood, north of the Halsted exit. Built in Iowa, and was originally based in Michigan City, IN. I know many of the hotels they built.

A team of doctors, that invest in the business, but eventually sell them off. All in the family. The head of the empire arrives in a white cloth, gold crown veil, they bow to him. He arrives by an envoy of body guards...approves the place prior to opening, and eventually, usually within two years, they redirect ownership within the family.

It's just their business, but the point is, it is family business, and tax write offs - they consistently use other names on checks within their family, to pay off private contractors. Again, very nice people. Oh, the rest is up to you. I can give you their numbers if needed. One resides off Ridge Road in a mansion, cul-de-sac, a doctor, his wife, servants...but what they do is...they bring in new family members, get a tax write off after the seven years...hand the business over to the next kin in the family. Thus, they avoid paying taxes for seven years as each new foreign relative is brought in to "invest" and by federal law, are not required to pay federal taxes.

I think I wrote about that on the long ago, Times Board...that explains why they open hotels and a new Patel takes over after seven years....avoiding taxes. When taxes are ready to be do, they bring in another family memember. Before you call me full of crap, pm me, I'll give you their full names and numbers.