The hotel will be a Hilton and have an indoor pool, restaurant and 500-space parking garage. Construction costs are estimated to be about $17 million. It will be owned by a partnership that includes the Unified Government of Kansas City, KS and KCK Hotel Group. That group is comprised of Raphael Hotel Group, Landmark Hotel Company II, Broadway Square Partners and J.E. Dunn Construction Co. Both partners will have a 49.95% share with the remaining 0.10% going to Landmark, the hotel operator.
"Won't it be great to have a restaurant and hotel in our downtown where we can proudly entertain guests and visitors," Marinovich said. The last hotel to be located in Downtown Kansas City, KS was the Civic Centre Hotel, which closed in 1995.
Special financing was approved for the hotel nearly a year-and-a-half ago. It includes a 10-year tax abatement passed by the Unified Board of Commissioners of Wyandotte County and Kansas City, KS. Other initiatives, including a property tax roll back, have also been approved.
Also part of the building project is the renovation of the Reardon Center, which will attach to the hotel. The hotel group will be allowed to lease the convention center for $1 per year. A new office building, next to the hotel, is being considered by the Kansas City, KS. Board of Public Utilities.
Funding for the project will come largely from Federal funds, including a $5-million grant from the US Department of Housing and Urban Development, a $6-million HUD loan to the developers by way of the Unified Government, a $1.5-million grant from the US Department of Commerce that will be used for the parking structure, a $2.3 million development bond and $2 million from the developers.
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