The top bid reached $5 million Wednesday morning as the end neared for a three-day auction in which participants that include Topeka’s city government are seeking to buy The Hotel Topeka at City Center, 1717 S.W. Topeka Blvd. The auction’s reserve, which is the minimum price a seller will accept as the winning bid, had not yet been reached. Meanwhile, City Councilman Spencer Duncan said the city doesn’t plan to own the hotel long-term. … Topeka city manager Stephen Wade said in a news release last week that the city, if it acquires the hotel, will look to experts and team up with private-sector partners while developing a holistic approach to redeveloping it.
Source: CJonline
