Downtown hotel to be restored
KOB Web Staff
August 15, 2019 06:57 PM
ALBUQUERQUE, N.M. - A former hotel in downtown Albuquerque is one step closer to getting a new start.
Thursday afternoon the city's development commission unanimously voted to use $22 million in Industrial Revenue Bonds to help developers renovate The Hotel Blue, which has been vacant since early last year.
ARRIVE Albuquerque will take over the building at 8th and Central, which was formerly as the Downtowner Motor Inn.
The new boutique hotel will include 135 rooms, meeting spaces, a coffee shop and bar. It will also feature a food truck park, according to a press release from the City of Albuquerque.
“This project will help us meet a need for hotel rooms to boost the use of the Convention Center. We continue to see investments in the community pay off in the form of new jobs and revitalized neighborhoods," said Albuquerque Mayor Tim Keller.
ARRIVE Albuquerque plans on investing $22 million dollars in the project with the support of the city's Industrial Revenue Bonds.
The hotel is expected to create 75 full-time jobs.
The full city council still needs to vote on approving the bond money. Construction is expected to start by the end of the year and if all goes as planned, the hotel will open sometime in 2021.
KOB Web Staff
Updated: August 15, 2019 06:57 PM
Created: August 15, 2019 11:58 AM
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