Yet another hotel development is being planned for downtown Racine.
Racine Mayor Cory Mason’s office, along with representatives of Milwaukee-based Dominion Properties, are to announce a new $27 million hotel project Wednesday morning, according to a media advisory.
Other than to mention the project would be somewhere downtown, the media advisory did not disclose its exact location. It also did not give additional details such as the proposed number of rooms or a development timeline.
According to the advisory, the announcement will be made in Mason’s office at 11 a.m. Wednesday. The city didn’t immediately return calls seeking additional information. Dominion could also not be reached.
This project marks the third major hotel development announced for the downtown area over the last several months.
Earlier this year, the city announced a $40 million redevelopment of a vacant city-owned site at 233 Lake Ave. that consisted of 190 residential units and a 100-room hotel. That project is being developed by Madison-based Hovde Properties.
The city later announced a $48 million project, which included a hotel with at least 173 rooms and 10,000-square-foot expansion of the Festival Hall convention center. The hotel would go up on a city-owned parking lot at the corner of Festival Park Drive and Sam Johnson Parkway. The project developer is Dallas-based Gatehouse Capital.
The developments were the subject of a July BizTimes Milwaukee magazine feature.
Although the location of this latest hotel development was not disclosed, Dominion just over a year ago purchased a vacant downtown office building. According to state real-estate transaction records, an affiliate of Dominion purchased the former Zahn’s department store at 500 S. Main St. in late September for $1.1 million.
Racine is seeing major development beyond hotel projects. In mid-November, officials revealed details of a $30 million development that will add 141 residential units in Racine’s Uptown neighborhood. The Ajax project is being led by West Allis-based Cardinal Capital Management Inc., and includes the demolition of obsolete industrial buildings at 1520 and 1536 Clark St. In their place, two four-story apartment buildings consisting of 87 market-rate apartments and 54 affordable units will be constructed.
