Akcess group faces delays in waterfront development

We read in this morning’s Oshkosh Northwestern that Akcess Acquisition Group and its partners have run into some rough water in their Waterfront office building development along the Fox River. Akcess vice president Tim Rikkers had previously said they hoped to break ground on the office complex and adjacent hotel project by October. Now we are told that he doesn’t have enough spaces leased to do so.

This is disappointing news, especially since Rikkers previously told the Oshkosh Common Council that he had tenants ready to sign: They were just waiting for the council’s approval on the project. Perhaps some signed after that approval was given, but clearly not enough have done so or we’d see ground being broken at the site. Rikkers was quoted by the newspaper as saying "It's very, very typical that this happens. Tenants do not have the same timeline as developers have. We're playing a waiting game because these are big companies we're talking to and they have protracted processes for leasing space." This is Rikkers’ business. Should he not have anticipated things like this happening? And if any others have already signed, why are their identities still being shielded from the public eye?

The other part of this project is the hotel/restaurant, scheduled to be operated by the Supple Restaurant Group. Because the developers want the office building and hotel to break ground within a week of each other, that groundbreaking has also been pushed back. Good thing, too, apparently, as, according to the Northwestern’s article, the group still has not chosen a hotel brand or restaurant to build on the site. Country Inn & Suites, Cambria Suites and another, unidentified brand have all expressed interest in the development.

So what would have happened to the groundbreaking for the hotel if there were enough tenants already in place for the office building? If no one yet knows what brand is going in there, it certainly doesn’t seem plausible that the groundbreaking would have occurred within a week of each other, does it?

As I’ve said before, I have confidence in the Supple group to successfully manage their end of this project once it gets going and I was, and still remain, a cheerleader for the entire concept. I also have appreciated the openness with which Rikkers has approached the project, sharing things with the media and citizens of this community – unlike the would-be developer of the defunct Five Rivers concept. Others have been much more doubting in their attitude and confidence toward the project has been lacking. We need to have a mixed use development along the riverfront and this still may be a worthwhile project. I only hope those who have been reluctant to wholeheartedly embrace it don’t get to say “We told you so.” I’m sure they’re already thinking it this morning.