Posted 12/5/2011 12:00 am
Updated 11 months ago
You probably know that Sam Alley, CEO of Little Rock's VCC general contracting firm, is an investor in the Chancellor Hotel redevelopment in Fayetteville (Nov. 21, 2011).
But did you know that Alley is no stranger to the 15-story project, known briefly as the Cosmopolitan?
More than 30 years ago, he helped put together a construction bid on the original 235-room Hilton Inn.
Back then, Alley was with Little Rock's Pickens-Bond Construction Co.
By his recollection, the company's proposal finished second in the competitive bidding process.
Coincidentally, financial troubles in 1987 hit the hotel's ownership and Pickens-Bond.
Foreclosure action ultimately sent the hotel to Bank of New York, and bankruptcy later sent the assets of Pickens-Bond to Hensel Phelps Construction Co. of Greeley, Colo.