City officials said discussions are underway to build a 1,000-room facility on an as-yet undetermined site to supplement the 2,500 hotel rooms currently in downtown. The proposal is estimated to cost $300 million, much of which would be paid for with city loans. The deal would be structured so that hotel revenues, not taxpayer dollars, would pay off the debt, city officials say.
Among the sites presently under consideration is a parcel at the Collier Center on the northwest corner of Third and Jefferson streets, assistant city manager Sheryl Sculley tells GlobeSt.com. She says the city will consider several funding options for the construction, including a public-private partnership and tax subsidies, along with city ownership.
If the city decides on public ownership, it will join a handful of cities in the hotel business, among them Overland Park, KS and Sacramento, CA. Cities now building hotels are Myrtle Beach, SC, Chicago, Houston, Austin and Denver.
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