The Rio Nuevo Board advanced a $38 million plan by Opwest Partners to revitalize the 23-story tower at 1 S. Church Ave. into a Marriott Tribute hotel.
Opwest Partners’ project would convert eight lower floors into a hotel with about 150 rooms, 1,500 square feet of meeting space, a 4,000-square-foot restaurant, and a fitness center. Floors 11 through 23 would remain office space.
Tyler Kent with Opwest said the development is expected to bring in $1.6 million in annual tax revenue in years 4 through 9 and reach $1.9 million in year 10. After year 10, that revenue is projected to reach $2 million per year.
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