What's going on with Hotel Seagate?

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TOLEDO, Ohio (13abc, Action News) - The issue really hit home last Friday when thousands of people spent a fun night at Promenade Park.

The shell of the former Hotel Seagate loomed over the site.

In May 2016, demolition stopped. During that time, Promedica built a garage and park and renovated a headquarters and the Tower on the Maumee began it's apartment renovations.

But nothing seems to be happening at the Hotel Seagate.

"i owe it to the taxpayers to do it right, not quick."

Commissioner Pete Gerken says he owes it to taxpayers to negotiate a good deal, no negotiate a quick deal.

Price tag: $ 2.9 million dollars.

A developer stepped up in October and announced an intent to buy.

But 9-months later, the county and Key Hotel and Property Management have not inked a deal even as other projects on the same corner move along.

Gerken says, "We started out on a punch list of 20 things we had to work out with each other. We're down to maybe two or three. We're getting there."

Gerken insists it took Promedica three years to go from concept to completion.

But Toledo City councilman Rob Ludeman is getting frustrated.

The county may own the land on the corner of Jefferson and Summit, but it is land but it sits on a city street corner.

Ludeman believes this process is taking too long.

"That's a very slow partner. In this economy, when lending rates are low, I think it's a pretty slow partner," he says.

Reporter Bill Hormann contacted Key Hotel and Property Management for a comment and was told the company was not interested in talking about the project right now.

Gerken promises a first rate development on this corner and an announcement soon, he just can't say when yet.