Building a skyscraper

Though Newcrest Hotels Ltd., an Irving developer, will turn the historic Fisk Building in downtown Amarillo into a high-rise Courtyard by Marriott, the feat isn't what a Newcrest representative referred to when he spoke of building a skyscraper in an interview Thursday.

Newcrest Real Estate Director Robert DeShay used the analogy of skyscraper building to talk about the work done before Newcrest arrived to the downtown revitlization scene in Amarillo: the formation of the Center City Tax Increment Reinvestment Zone, the support from taxing entities involved in the TIRZ, and the support of businesses and individuals who contribute through Downtown Amarillo Inc. and Center City of Amarillo.

That preliminary work is vital, but it isn't as visible and thus can encourage skeptics, DeShay said.

Here's his comment:

"When you're building a skyscraper, the first thing you have to do is go down deep and make sure the foundations are solid. But no one sees anything except a fence (around the property). And this work might go on for months, months, months. And then all of a sudden, a structure begins to rise. And the higher the structure, the more solid the foundation has to be."

Newcrest found the prep work "very impressive," DeShay said. "We said to ourselves, 'You know what? These people are going to make something happen in this downtown.'"

Newcrest's role now is to complete a $12.7 million renovation of the Fisk, on Polk Street at Southwest Eighth Avenue, in about a year's time. Upon completion, the developer will be eligible to begin receiving about $1.6 million in property tax rebates from the TIRZ over a 20-year period.

A barbecue and jazz event today at the Fisk's parking garage celebrated the kickoff of demolition and construction of the Courtyard by Marriott.

Downtown group appears ready to hire

Downtown Amarillo Inc. could soon hire a full-time chief executive officer.

Board officials for the nonprofit organization created to push downtown revitalization said three finalists have been interviewed and a hire could soon be announced.

“We’re not going to have to wait much longer,” board member Gary Pitner said.

Jorgenson Consulting helped DAI identify 120 to 130 candidates to court, and about 30 submitted applications as a result, Pitner said.

"We have had some excellent prospects," board member Bill Gilliland said.

All three are from Texas, with at least one being from Amarillo, he said.

The Amarillo City Commission created DAI in July so that the organization could continue the work of a city-appointed committee that guided development of a strategic action plan for reviving downtown.

The commission budgeted $230,500 for the group in the 2008-2009 fiscal year and gave it several goals. Those benchmarks included establishing the organization as a nonprofit, hiring a full-time CEO to market downtown to potential project developers, and making several presentations about what tools the city and the Center City Tax Increment Reinvestment Zone have available as incentives for downtown development.