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Developers present 129-room downtown hotel plan; legal deadline prompts council to seek options
Summary
Developers outlined a five-story, 129-room hotel with 96 below-grade parking spaces for the old Jafar Hotel site in downtown Monroe and asked council for more time to complete design and financing. City attorneys said a purchase option in the existing agreement gives the developer until Dec. 18, prompting staff to return with options before that date.
Developers and the city laid out a concept for a new downtown hotel on the former Jafar Hotel site at Maine and Franklin and outlined next steps for design, parking and procurement.
Ingram Walters, the lead developer, told council he and partners are seeking an extension or amendment to the current economic-development agreement so the team can finish engineering and secure financing. "As soon as we get that signed, I'm hoping that that gets signed by the end of this week," Walters said, and he asked the city to let staff and the developer work toward a timeline he later said targets a ribbon-cutting on Dec. 31, 2028.
Architect Steven Overcash of ODA Architects presented conceptual drawings showing…
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