10/05/15  Fate Of Pine Bluff Convention Center Hotel Still In Limbo

According to a Democrat-Gazette report, the fate of the hotel at the Pine Bluff Convention Center remains in limbo. Mayor Debe Hollingsworth says the city has no plans to raise its orginal offer of $500,000.00 for the property after Plaza Hotel owner Bruce Rahmani rejected the offer last month. Hollingsworth said she and other city leaders are taking a “wait and see” attitude. She said it was her understanding that Rahmani had purchased the property in foreclosure.  She said perhaps if it was forced into foreclosure again someone could pick it up at a reasonable price.

Rahmaini scoffed at the city's offer of $500,000.00 and said he wouldn't take less than two million for the 5 story 200 room property. According to the Jefferson County Assessor's office, the property appraised for $612,000.00.  Hollingsworth has said the city wouldn't pay more than the appraised value. Rahmani has said the hotel needs a million  dollars in upgrades before it can be reopened.