A proposed hotel development for the corner of College and Howell avenues is alive once again, with a new incentive package that alleviated the concerns of top Oak Creek officials.
The agreement between the city Creek and the hotel developer, Syner G, reduces the city’s financing from $4.5 million to $2.75 million. The money will come through a tax incremental financing (TIF) district and be repaid over nine years.
Plans call for a 107-room Four Points by Sheraton Hotel that will feature a full-service restaurant, bar, fitness center, swimming pool, business center and meeting facilities. Additionally, developers are planning a 1,515-stall parking lot for airport travelers. The city will receive 5 percent of the revenue generated by the parking lot.
Read more in Oak Creek Patch, a media partner of BizTimes Milwaukee.