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Developer Proposes Renovation of Downtown Hotel

The buyer of the Sioux City Hotel is proposing significant renovations to the downtown property, with a total investment projected of more than $10 million. Fort Myers, FL based developer and real estate investment firm, Conor Acquisitions, is planning a complete renovation of the property lead by National Hospitality Consulting Group, including both interior and exterior, implementing a nationally-known hospitality franchise.

Under the terms of a proposed development agreement the developer will purchase the hotel property for $4 million, invest $6.5 million towards renovations, and enter into an agreement with a nationally-known hospitality franchise to rebrand the hotel to one acceptable to the City. In exchange, the City would provide a $1 million grant for renovations, sell the city-owned atrium space, provide a property tax rebate and establish a parking agreement.

“We are excited to be partnering with Sioux City on this development opportunity,” said Jonathan Chang, Managing Partner. We plan to make this hotel a landmark for Sioux City while providing an upscale lodging option to the downtown area that will play a key role in its revitalization. We will create a distinct destination where locals and travelers alike can come and enjoy the ambiance and unique culture of Sioux City. We look forward to being a part of the local community with this exceptional hotel development and would like to thank this great community for your support and participation.”

The City Council will take action on Monday, December 2, to approve an amendment to the downtown urban renewal plan, begin the notice period and set dates for a consultation and public hearing. Representatives from Conor Acquisitions are anticipated to attend the December 9 City Council meeting to present renderings of the proposed property.

The 193-room downtown property is connected to the Sioux City Convention Center via skywalk. Built in 1974 as part of a downtown urban renewal project, the property began as a Hilton Hotel and has seen several ownership and name changes in recent years. The City anticipates an increase in hotel/motel tax revenue and additional business at the Convention Center as a result of the proposed renovation.

Contact

City Hall
405 Sixth Street
P.O. Box 447
Sioux City, Iowa 51102

Marty Dougherty
Economic Development Director
712-279-6345

Jonathan Chang
Chief Design Consultant
National Hospitality Consulting Group
888-879-9056 ext 104