FORT PIERCE – The developer of a proposed up-scale Marriott hotel, considered a linchpin of the downtown waterfront King’s Landing project, says it needs $15 million from the City of Fort Pierce to fill a financing gap it can’t meet.
Records show Mainsail Lodging and Development, the primary force behind the proposed downtown hotel, has already missed at least three deadlines in contracts with the city, including a requirement to have the hotel’s financing “fully and finally closed” by July 15.
Several city commissioners have already indicated they are a “hard no” on the city contributing $15 million to keep the hotel project alive in exchange for a proposed 60 percent ownership in the hotel…