NYO Property Group has received a $5 million tax credit for the Stambaugh Building to be turned into a hotel.
http://www.vindy.com/news/2014/jun/25/stambaugh-project-gets-m-boost/ (http://www.vindy.com/news/2014/jun/25/stambaugh-project-gets-m-boost/)
This is great news! This badly needed hotel will spur further economic growth. Goodbye Warehouse 50, hello nice restaurant, lounge, etc. However, a new place for Party on the Plaza will be needed, as I doubt a brand name hotel will want this right outside their doors.
Quote from: penguinnick on June 25, 2014, 11:04:42 AM
This is great news! This badly needed hotel will spur further economic growth. Goodbye Warehouse 50, hello nice restaurant, lounge, etc. However, a new place for Party on the Plaza will be needed, as I doubt a brand name hotel will want this right outside their doors.
Warehouse 50 is a nice restaurant/bar....
Quote from: penguinnick on June 25, 2014, 11:04:42 AM
This is great news! This badly needed hotel will spur further economic growth. Goodbye Warehouse 50, hello nice restaurant, lounge, etc. However, a new place for Party on the Plaza will be needed, as I doubt a brand name hotel will want this right outside their doors.
lol Warehouse 50 isn't going anywhere. ;)
This isn't going to be a chain hotel. It will be locally owned and operated by the developer who owns it.
It's supposed to contain a hotel, extended-stay rooms, office space, and some other amenities.
Mixed-use for the Stambaugh building is a good idea - diversified list of businesses
in the building makes full occupancy more likely and more sustainable over the long
term.