Flintco, the contractor that performed much of the work at the Renaissance Hotel project, could receive the property through default after an October foreclosure auction.
The massive project at Interstate 25 and Interquest Parkway was foreclosed upon in a civil proceeding last month, after construction of the project stalled for months.
Flintco, based in Oklahoma, stands to receive the $29 million plus interest and other fees its owed, even if the property does sell to another bidder.
The company issued a mechanics’ lien on the property and final judgement was given to Flintco June 16.
The suit was originally filed by RK Mechanical, Inc. in March of 2010, and Flintco was listed as a defendant.
The final judgment and decree of foreclosure issued by El Paso County District Court Judge Gregory Werner on June 16 states that Flintco is the only remaining lien-holder in the case.
Work stopped on the 11-story, 300-suite hotel in October of 2009. Hotelier John Hammons had put up the money to build the structure himself, and had to put the project on hold while he secured other funding.
While Hammons was said to have secured funding, the 92-year-old ended up going into a nursing home and construction on the property never resumed.
Fred Veitch, a vice president with Nor’wood Development Group said the property is about 70 percent finished.
Neither Flintco nor John Q. Hammons could be reached for comment Friday.