Council approves $10 million guarantee for convention center hotel

Council approves $10 million guarantee for convention center hotel

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BPC Staff | Feb 23, 2016 | 4:20 pm |

<1 min read time

The Des Moines City Council approved a $10 million guarantee on Monday to help build a convention hotel connected to the Iowa Events Center downtown,the Des Moines Register reported.

The Des Moines City Council approved a $10 million guarantee on Monday to help build a convention hotel connected to the Iowa Events Center downtown,the Des Moines Register reported. Construction should begin next month on the 330-room hotel at Fifth Avenue and Park Streets, supported by financing that has undergone significant shifts in the last month, primarily due to a decision to end efforts to secure $20 million in second-tier construction financing from a controversial federal program that provides permanent visas to wealthy foreign nationals who invest in economic development projects. Learn more about the project >>>