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Normal Council OK's Hotel Plan

Tue, 08 Apr 2014 06:48:05 CDT
By: Jim Browne

The Normal town council has cleared the way for additional construction at the Uptown traffic circle. Aldermen voted in favor of an amended deal with developers over the space on the west of the round-a-bout. The foundation poured by former developers One Main of Champaign will be taken out to provide for enough foundational support for an eight story building. Construction on the $25-Million project could begin after final financing is lined up, probably this spring. The town will provide a $5.1-Million grant, and Tartan Realty would kick in $7.1-Million for the hotel, to be called "Hyatt Place." The town of Normal would cover the grant through a 25 year bond sale, which would in turn be paid off through future taxes on food, beverage, and lodging.

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