|
Marriott Hotel Could Be Coming To WaterWalk
A Marriott hotel could be coming to the downtown WaterWalk development.
Reporter: Wichita Business Journal Email Address: news@kake.com |
|
January 8, 2010
A Marriott hotel could be coming to the downtown WaterWalk development.
WaterWalk has entered into a tentative agreement with Wichita hotel developer Jim Korroch and his Four-G LLC for a 130-room Marriott Fairfield Inn and Suites Hotel that would be built next to the WaterWalk Place building.
The deal would include up to a $2.5 million cash contribution to Four-G by the city for construction costs of the hotel. The city also would issue up to $12 million in industrial revenue bonds, which would provide a sales tax exemption on construction costs, furnishings and equipment. The exemption would be worth an estimated $328,945.
The city’s involvement would be pending a market study to determine the impact of a new hotel on the neighboring Hyatt Regency, which is owned by the city. The city could rescind its involvement if the study shows the new hotel adversely impacting the Hyatt.
PKF Consulting, which has offices in Atlanta, will conduct the study.
The Wichita City Council will vote Tuesday on a letter of intent regarding its involvement in the project.
The hotel would be a boon to the public-private WaterWalk development, which was started in 2002 to create a retail, office and residential district in downtown Wichita. Wichita businessman Jack DeBoer recently took over the project from his partners and has revamped its marketing effort.
- Missing Kingman Man Found Dead
- "The Cold Spotter"--Thursday at 10 p.m.
- Wichita Businesses Cited After Alcohol Compliance Check
- Snow Falling In SC Kansas
- Male Belle Plaine High School Faculty Shave Heads
- Horse Abuse Allegation Prompts Investigation
- Mississippi Inmate Put To Death
- What's Going Around
- Kansas Receives Settlement In Mortgage-Abuse Deal
- Kansas Grocer Faces Sentencing In Food Stamp Scam
- Mother Arrested, Charged With Child Abuse
37 Comments - Missing Kingman Man Found Dead
33 Comments - North Wichita Dog Park Under Construction
22 Comments - Daniel Perez: AKA Lou Castro Investigation
19 Comments - Intrust Bank Arena Nets Profit In 2011
18 Comments - Kansas House Endorses Kobach Citizenship Bill
18 Comments
| 30 Days
Click here to go to KAKEland’s "30 Prizes In 30 Days" page. |
|
| Winter Guide
Cool ideas to keep you warm this winter! |
|
| Health Connect
Click here for health resources from local medical providers. |
|
| KAKE DVD Collection
Click here to order KAKE DVD's including "Honor Flight", "Santa's Workshop" and more. |
|
| First United Methodist Church
Click here to watch live Sunday services. |
|
| Papa John's Pro Football Pick'em
CLICK HERE to play KAKEland's Pro Football Online game. |
