Board Bill Number 197 In Session 2023-2024

Redevelopment Plan for the 2601 Market St. Redevelopment Area

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 2601 Market St. Redevelopment Area. The prospective redeveloper plans on constructing two multi-story buildings with 304 hotel rooms, at the cost of $126 million. Kimpton Hotel will be in the eastern building. Staybridge Suites will be in the western building. 116 full time employees will be employed by the hotels. The redeveloper plans to use utilize private funds for this project. This Board Bill allows up to ten (10) years of tax abatement based on 75 percent of the assessed value of the incremental improvements.

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Overview

Session: 2023-2024

Introduced: 01/12/2024

Primary Sponsors: Laura Keys

Latest Activity: Committee Hearing

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

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