In the past several months, the citizens of the West Valley have been enjoying a bounty of promising economic growth projects. The new Cardinals stadium and Westgate plaza in Glendale, and the new Indians spring training facility in Goodyear to name a couple. Despite the unfortunate housing market, we were still feeling pretty good about ourselves. So imagine my dismay at finding out that Litchfield Park's beloved Wigwam Resort is currently in foreclosure and will be up for public auction on July 9.
The management company, Starwood Hotels and Resorts Worldwide Inc., which has been managing the Wigwam since 2001, let employees know that they would not be renewing upcoming contracts and that layoffs would begin in May. The problem came about when the property owner, Kabuto Arizona Properties LLC, began defaulting on a $65 million dollar loan it had received from Citigroup Global Markets Realty in June 2007.
I can't imagine anyone who has spent any time at the Wigwam isn't shocked by this unfortunate turn of events. The Wigwam Resort is one of Arizona's original luxury resorts. The grounds are immaculate, the rooms are beyond comfortable and the staff exudes the kind of extraordinary hospitality that can only be found in the West Valley. The Wigwam rivals anything that one could find in Scottsdale or Paradise Valley.
So what does this mean for the city of Litchfield Park? Darryl Crossman, Litchfield Park’s city manager said, “It’s a surprise. I knew there were financial problems, but when I heard that Starwood had a meeting yesterday with their employees, I knew it was something big." Litchfield Park is home to about 4,500 residents and at the center of their economic heart is the Wigwam Resort.
The West Valley is more than jails, swap marts, farm-land and Air Force bases. We have a stake in Arizona's luxury industry and the rest of the Valley knows it. The Cardinals stadium and the new spring training facility could have gone anywhere else but they came here. We should all be watching these events regarding the Wigwam as they unfold. Litchfield Park is one of our own and they need our support. Until any decisions can be made about this five-star resort, know that our thoughts are with you Litchfield Park!
The management company, Starwood Hotels and Resorts Worldwide Inc., which has been managing the Wigwam since 2001, let employees know that they would not be renewing upcoming contracts and that layoffs would begin in May. The problem came about when the property owner, Kabuto Arizona Properties LLC, began defaulting on a $65 million dollar loan it had received from Citigroup Global Markets Realty in June 2007.
I can't imagine anyone who has spent any time at the Wigwam isn't shocked by this unfortunate turn of events. The Wigwam Resort is one of Arizona's original luxury resorts. The grounds are immaculate, the rooms are beyond comfortable and the staff exudes the kind of extraordinary hospitality that can only be found in the West Valley. The Wigwam rivals anything that one could find in Scottsdale or Paradise Valley.
So what does this mean for the city of Litchfield Park? Darryl Crossman, Litchfield Park’s city manager said, “It’s a surprise. I knew there were financial problems, but when I heard that Starwood had a meeting yesterday with their employees, I knew it was something big." Litchfield Park is home to about 4,500 residents and at the center of their economic heart is the Wigwam Resort.
The West Valley is more than jails, swap marts, farm-land and Air Force bases. We have a stake in Arizona's luxury industry and the rest of the Valley knows it. The Cardinals stadium and the new spring training facility could have gone anywhere else but they came here. We should all be watching these events regarding the Wigwam as they unfold. Litchfield Park is one of our own and they need our support. Until any decisions can be made about this five-star resort, know that our thoughts are with you Litchfield Park!
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